Transforming Business: Valuing social and human capital

‘Transforming Business: Valuing Social & Human Capital’ introduces practical steps that individuals and businesses can take to integrate social and human capital into their decision-making.

Today, our world is facing major challenges including climate change, biodiversity loss, public health crises, threats to human rights, and rising inequality across the world. 

Businesses are starting to become aware of the impact they have on natural, social and human capital. They are increasingly asked to take an active role in being part of the solution in tackling inequality, protecting nature, and safeguarding human rights. Now, more than ever, businesses are beginning to recognize their role and responsibility to making positive changes for people and society as a whole.

The Capitals CoalitionNature^SquaredWBCSD-BCTI and Social Value International have developed a free, online training course with a focus on business’ transformation through valuing social and human capital

The aim of this course is to introduce business employees to social and human capital within the context of the Capitals Approach and human rights. It will provide guidance on how to get started in making positive impacts for people, planet, and society within the business decision-making context.

This course is an introductory course; no prior knowledge is needed. It is of particular relevance to those working in the domains of strategy, risk, finance, procurement, accountancy, auditing, human resources, and sustainability.

Drawing from the internationally recognized Social and Human Capital Protocol, the course provides a comprehensive introduction to social and human capital issues and their relationship with human rights and sustainability. Over four modules, the course will guide you through the process of understanding and integrating social and human capital issues into business DNA to improve people well-being and tackle inequalities.

In modules 1 and 2, you will be introduced to the concepts of social and human capital and human rights thinking, the Social and Human Capital Protocol, as well as the Capitals Approach. Here, you will be guided through the first stages and steps of conducting a capitals assessment.

In module 3, you will learn about impact and dependency pathways and how to measure and value those connected to your business activities. Finally, in module 4, using the Asses-Commit-Transform-Disclose framework you will learn about how to apply the findings of a social and human capital assessment to make commitments and transform business practices, and how to communicate and report on these elements.

The course features many real-world business examples, such as Natura, Novartis, Kering, Tony’s Chocolonely, Jacobs, OFI, to demonstrate why and how other businesses have measured and valued social and capital, and the benefits this has brought to their strategy and management processes. These examples also show how companies make commitments to enact change and transform business practices, providing insight into different actions and commitments you can take.

By the end of the course, participants are expected to have learned about why it is essential to embed social and human capital into business decision-making, and how to get started with a capitals assessment.

About the Capitals Coalition:

The Capitals Coalition is a global collaboration redefining value to transform decisión making. It sits at the heart of an extensive global network which has united to advance the capitals approach to decision-making.

The ambition of the Coalition is that by 2030 the majority of businesses, financial institutions and governments will include the value of natural capital, social capital and human capital in their decision making and that this will deliver a fairer, just and more sustainable world.

The Coalition has published two international protocols – the Natural Capital Protocol and the Social & Human Capital Protocols – that provide a standardized framework for businesses to identify, measure and value direct and indirect impacts and dependencies on stocks of natural, social and human capital.