The Challenge of Integrating Impact and Financial Accounting

There is increasing interest in impact and sustainability from mainstream financial markets - eg EC EFRAG on non financial reporting, on intangibles and on risks - as well as International Financial Reporting Standards (IFRS) consultation on a sustainability board. There are initiatives exploring the options for increasing recognition of social and environmental impact in financial accounting - Capitals Coalition work (VBA, SVI campaign, IWAI). These two areas of activity are not that integrated at the moment. What are the risks and opportunities for those of us who think resource allocation decisions should take social and environmental impact into account?