Multi-Stakeholder Impact Environmental Indexes: The Case of NeXt

Abstract

The design of proper environmental and social indicators is one of the most critical challenges when monitoring and implementing corporate and government policy measures toward ecological transitions and sustainable development. In our paper we outline and discuss the characteristics of a new vintage of “living” multi-stakeholder community-based indicators based on the principles of self-evaluation, dialogue and simplification with a specific focus on the NeXt index. We explain the main differences between them and the opposite extreme of static expert-based indicators, how they integrate firm-level scores with compliance with macro multidimensional wellbeing indicators (such as the UN Sustainable Development Goals) and how they complement with ongoing regulatory standards currently under development. As well, we discuss caveats, policy implications and impact in terms of subjective wellbeing.