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40%
of your value the books don't show.

Green value, made visible.

Most companies are sitting on roughly 40% more value than their financial statements reveal, hidden inside their sustainability performance.

Verdalor finds it, puts a number on it, and turns it into board-ready financial metrics, so the value you have already built finally shows up where it counts. The live model below runs on one anonymised company. Drag the carbon price and watch the number move.

Your balance sheet is understating the business by around 40%. We quantify the value your sustainability work is already creating and report it in financial terms you can defend, so you stop leaving real worth off the books.

  • Environmental cost exposure, priced in euros
  • A True EBITDA you can take into the room
  • Conservative, sourced numbers, gaps flagged
  • A number built to survive due diligence

You know your sustainability work creates real value. We prove it in the one language the board cannot argue with: money. Your impact, finally counted as value created, not cost incurred.

  • People, innovation and societal value, priced
  • Transition risk mapped to real cost
  • A seat in the valuation conversation
  • Budget defensibility, line by line
The Verdalor engine · live worked example · IIAF methodology Illustrative · anonymised operator

Two views of the same company. One asks did this year pay for itself once you price the environmental cost. The other asks is the whole company worth more or less once you bring that value onto the books. This sits beside your accounts, priced in euros, built to survive due diligence. Drag the price and watch.

Carbon price · drives both ledgers
$236
SCC $236 · policy Net-zero $130 EU ETS $80 Internal $50

This is the price regulators and investors will assign to every tonne of CO2 your business emits. Higher price, bigger liability. Your market is catching up fast.

Discount rate · stock only
Stern 1.4% conservation
House 2.2% IIAF locked
WACC 8.0% financial

The rate used to convert future carbon costs into today's money. A lower rate takes long-term stewardship seriously. A higher rate mirrors standard finance. The difference changes your complete value by more than you expect.

EV anchor · stock only
Proper EV mktcap + net debt
7× proxy draft spec
Market cap raw

The enterprise value baseline the integrated calculation benchmarks against. Toggle between market cap only, or market cap plus net debt. The gap between them can shift your complete value significantly.

The Complete P&L Flow · one year
Did this year pay for itself? 106.2%

The value on the books Stock · capitalised
Is the whole company worth more? 58%

The balance sheet view is available on a wider screen. The number above already tells you whether this year paid for itself.

Net value margin
+0.54%
Value-cost ratio
7.45×
Transition risk gap
13.4%
Carbon leverage
2.1×
Environmental exposure
35%

Illustrative only. Built from one company's public report, anonymised and rerun under the IIAF methodology. Conservative, sourced inputs, with gaps flagged rather than estimated. Not GAAP or IFRS. The point is simple: your finance team should own this number before the market does.

See the method →
Book a call → See a worked example → Fixed scope · priced on the call · public data only · board-ready
Judging panel Reuters Global Sustainability Awards Judging panel MEIRA ESG Awards Guest lectureship Erasmus University Grounded in long-term value finance
Where we sit

Ratings score you. Consultants advise you.
Verdalor puts a number on the value.

Every strong brand stands against something. We stand against lazy capitalism: the habit of measuring only what the old templates make easy, and dismissing the rest as immeasurable. We are not against profit. We are against an incomplete view of it.

Lazy capitalism

An incomplete view of profit

  • A beautifully designed disclosure your finance team cannot use
  • Millions in compliance spend with no line on the books
  • Environmental, people and societal value left off the statements
  • A score and a rank, not a number in your own currency
  • Sustainability defended as cost, not led as value
Verdalor

The complete picture, in money

  • A Complete P&L your CFO can take into any boardroom
  • The Unaccounted Value priced and brought onto the books
  • Transition risk surfaced before a regulator or the market does it
  • A defensible True EBITDA, in your own currency
  • The worth proven, so the C-suite leads with it instead of apologising

If your sustainability work cannot be read by your finance team, it is not a strategy. It is a report that the people holding the budget never read in financial terms.

What that costs a business

Real value goes uncounted.
The market underprices you.

Sustainability has a translation problem, not a data problem. You collect more environmental and social data than ever, yet most of it dies in a separate report the people holding the budget never read in financial terms. Here is what that quietly costs.

One

Value recorded only as cost

Work that genuinely strengthens the company shows up as expense, never as worth created.

The result lands in a disclosure your finance team cannot use, and the value you built stays off the books and out of the conversation that decides what you are worth.

Two

The market prices what it can see

Investors price what reaches the statements. They cannot price what never does.

Environmental cost exposure is real. People value is real. Societal value is real. None of it sits on your statements, so the market values part of the company, not the whole.

Three

Decisions on a partial view

Capital gets allocated against a picture of the business missing a meaningful slice of reality.

The CFO speaks in money, the CSO speaks in impact, and the two numbers never meet. We exist to prove the rest is not immeasurable at all.

The path, end to end

Public data in.
A number you can act on by Monday.

It starts where the CFO and the CSO are stuck, on opposite sides of the same translation gap, and ends with one number they share. The whole path runs on public information only. Click a tier in the dial to see how deep each level goes.

Choose your cadence · same engine
Three recurring levels you run every year, plus one deep dive for a single transaction. Tap any tier.
Optional · your data

Customization

The main path needs nothing sensitive. When you are ready, add ERM data, confidential business cases and investment files to sharpen the number further. You choose if and when. It never touches the public spine.

What changes when the number lands

The CSO and the CFO finally read from the same page.

CSO: work priced as value, not cost CFO: the complete, defensible number One language across the table Priced before the market does it
Start with a Discovery → See the method → Starts on public data. Nothing confidential to begin.
The result · what you walk away holding

You don't get a report.
You get a number you can sign.

At the end, the CFO holds three things, and not one of them is a sustainability document. One number stated like a financial result, the bridge that proves it, and a clear view of where you stand. Built to sit beside your audited accounts and survive the same questions.

The board-ready pack · three artifacts
Artifact 01

The True EBITDA statement

One number, stated like a P&L line
Illustrative ยท €M
Financial EBITDA600
+ Value created, now priced+318
− Cost & risk, now priced−78
True EBITDA840
Artifact 02

The value bridge

Every euro defensible, line by line

The same waterfall you already present, now reconciling impact to earnings.

Artifact 03

Your position

Where you stand, before the market says
Value created
+€318M priced
Unpriced risk
€78M exposure
Value-accretive today. You know the gap before a regulator, the market, or a buyer prices it for you.
Two companies. The same output.
Whichever side you're on, the result tells you where you truly stand. See both.
What the number does for you

A premium you can prove

The value the market hasn't priced becomes a number you can put in front of investors and rating agencies.

For shareholders

Risk seen early

Unpriced carbon, water and supply-chain exposure surfaces now, while you still have time to act on it cheaply.

For continuity

Capital aimed better

Every major decision can be value-priced first, so spend flows to what actually builds complete value.

For growth

One language, one room

Finance and sustainability finally argue from the same page, so decisions get made instead of deferred.

For the board
Before

Your sustainability work was recorded as cost, in a report your finance team could not use.

→
After

It is counted as value created, on a Complete P&L your finance team owns. Same data, in a language you can defend.

See your number → How we get there → Starts on public data. Nothing confidential to begin.

Figures illustrative and anonymised. The True EBITDA statement, value bridge and position view are produced under the IIAF methodology and are illustrative only, built to sit beside audited accounts but not a replacement for them. Non-GAAP / Non-IFRS.

The IIAF EBITDA Bridge and the CFO/CSO perspective are genuinely distinctive. The framing around the gap between financial and integrated performance is one of the most operationally useful I have seen.
Willem Schramade · Professor, Nyenrode Business University · Head of Sustainability Client Advisory, Schroders
Marcel Jacobs, founder of Verdalor and creator of the IIAF methodology
Marcel Jacobs Founder of Verdalor
Creator of the IIAF methodology
Author, True (False) Profit
Dubai
The method behind the number

Grounded in long-term value finance, not invented from scratch.

The IIAF method is conservative by design. It uses sourced numbers, flags gaps rather than filling them with guesses, and is built to survive a sceptical CFO, not to flatter a sustainability report.

Verdalor is the brand. The IIAF, the Integrated Impact Accounting Framework, is the engine beneath it. The brand is what you buy and remember. The engine is what makes the number defensible. It was built by Marcel Jacobs across twenty years inside Royal Philips, Philip Morris International and Office Depot Europe, watching where value goes uncounted, then learning to price it. The credibility markers below are the proof behind the promise.

  • Judging panel · Reuters Global Sustainability Awards
  • Judging panel · MEIRA ESG Awards
  • Guest lectureship · Erasmus University Rotterdam
  • The engine · Integrated Impact Accounting Framework
  • The thinking · author of True (False) Profit
Book a call → See How It Works →
The Verdalor product ladder

Find the number.
Defend it. Then own it.

Four products, one engine. Start light with a First Read, go deep with a Discovery, keep it live with Always On, and prove it cold when you raise. Each rung earns the next.

DiagnosticValuationContinuityTransaction
Rung 1 · days
Fixed scope · entry read

First Read

A fast public-data pass that sizes the gap between your reported number and your real one. The cheapest way to find out if the deeper work is worth it.

  • A first read on the Unaccounted Value
  • Public-data only, nothing confidential
  • A go or no-go on the full Discovery
Book a call →
Most start here
Rung 2 · weeks 4 to 6
Fixed scope · priced on the call

Discovery

We run the Complete P&L beside your accounts and show the Unaccounted Value the official statements miss. You leave with the number and a clear view of what to do with it.

  • A Complete P&L across your material value drivers
  • The bridge from your reported number to your real one
  • An anonymised board-ready artifact
  • One executive briefing, your team in the room
Book a call →
Rung 3 · ongoing
Retained · scoped per year

Always On

We sit with your Investment Committee each quarter. Every major spend gets value-priced before sign-off, so capital stops getting stranded in plain sight.

  • A Complete P&L kept current each quarter
  • Every major spend reviewed before approval
  • Six live value drivers for the C-suite dashboard
  • Early warning on future write-downs
How it works →
Rung 4 · 8 to 32 weeks
Project · scoped per deal

Raise Prep

Listing, raising or selling? We prove the worth is real and build every document an investor needs to believe it, with the bridge that holds up in the room.

  • Three-gate audit, data, legal and financial
  • Investor narrative built on the real number
  • Investor Day pack and Q&A playbook
  • Positioning strategy for the worth you carry
How it works →
Worked examples · anonymised

What we found when we ran
the Complete P&L

Wherever we make a claim, we show the working. Each figure below comes from a real analysis, recomputed under the IIAF and stripped of identifying detail. Conservative by design, with gaps flagged rather than estimated.

European Talent-Services Group
+21%
Complete value above book value

A business carrying almost no environmental cost exposure, yet whose real worth rests entirely on the durability of the people value it creates. We made that asset visible and defensible, and showed exactly which assumption the result hangs on.

Listed talent-services group · under confidentiality
GCC Telecom Operator
~6 to 8%
Worth the market had not priced, found pre-raise

The year paid for itself on the Complete P&L, yet the company was worth less on the books until the environmental cost exposure was repaired. Two views, one board that could finally act on both. Found before the raise, not after.

Listed GCC telecom operator · under confidentiality
Global Lighting Manufacturer
90%
Of product-use emissions offset by the efficiency benefit

Close to break-even on its own operations, yet a gross product-use exposure many times earnings sat outside the headline. We isolated the efficiency benefit that offsets most of it, leaving the real transition liability the board needed to see, never netted away.

Listed lighting manufacturer · under confidentiality

Illustrative only · Non-GAAP / Non-IFRS · All value drivers are IIAF estimates derived from public report data and are not for external disclosure. Environmental cost priced at the policy reference. Method foundation: Schoenmaker & Schramade (2023), Corporate Finance for Long-Term Value.

True (False) Profit by Marcel Jacobs, book cover
The methodology, in print

Why your bottom line is incomplete, and how to fix it.

"Stop reporting on impact. Start accounting for value."

The full thinking behind the method, written for CFOs who are done flying blind. Not a sustainability book. A finance book that happens to take impact seriously enough to put a number on it.

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Green value, made visible

The 40% your books
don't show.
Counted.

Book a call and we will look at your business through the IIAF lens. Then we tell you, plainly, what your sustainability work is worth in financial terms and whether the deeper work makes sense for you.

Book a call →