Tomas Casas Klett
Title
Dr.
Last Name
Casas Klett
First name
Tomas
Email
tomas.casasiklett@unisg.ch
Phone
+41 71 224 2485
5 results
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Item type:Publication, Assessing the Sustainability of the Business Model: Firm Governance Using the Sustainable Value Creation Framework and Its MeasurementsThe generally accepted definition of sustainability's has a future orientation where "the needs of the present" are satisfied "without compromising the ability of future generations to meet their own needs” (Brundtland, 1987). That sustainability is at the firm level (as in von Carlowitz, 1712) is an increasingly self-evident proposition. Yet leaders aspiring to make their organizations sustainable face a multitude of challenges, and not exactly because of a lack of choice in the CSR and ESG options available to them. Bafflement can easily turn into frustration when inconsistency, the lack of connection to the firm’s business model or poor-quality data become apparent. On the other hand, progress towards applying sustainability has been considerable over the last decade as exemplified by the ‘big’ global ESG framework and standard-setting organizations. Yet despite the progress made by the copious number of frameworks and measurements, serious issues and blind spots persist. For instance, monopoly positions, subsidies or regulatory privileges are clearly unsustainable and yet rarely captured by existing sustainable frameworks and measurements. This is but one issue—a review of all those identified in the academic and practitioner literature is the paper's first step. In a second step, this paper proposes requirements for sustainability frameworks and measurements. These include: (i) comprehensive capture of sustainable activities; (ii) comprehensive capture of unsustainable activities; (iii) pricing all the value creation and appropriation of the firm; (iv) measuring business model sustainability in relation to the financial statement; (v) measuring the balance of the business model’s sustainable and unsustainable activities. In the third and final step, the paper discusses two sustainable value creation measurements (VCr/VCp) anchored in a multi-disciplinary body theory while developing specific metrics for their calculation. Once empirically validated, the VCp/VCr measurements might inform managers and investors in their choices, inform public policy and could even be employed to adjust equity valuations and credit ratings.Type:journal article - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Introduction: Value Creation Ratings Report on The Sustainable Value Creation of Firms (VCr2025 proof-of-concept)This introductory chapter establishes the theoretical foundations and practical applications of the Value Creation Rating (VCr) as a comprehensive measurement framework for firm-level sustainable value creation. The chapter opens by positioning risk origination as a critical precondition for value creation, arguing that long-term business success requires integrating financial performance with sustainability through the origination—not merely management—of risk. The Sustainable Value Creation (SVC) Initiative operates on a foundational ontological premise: all value is either created (through first-order productive activities) or transferred (through second-order extractive activities). This dichotomy enables the Value Creation-Appropriation (VCA) framework to decompose firm revenue into three categories: value created and appropriated (Net Value Creation), value appropriated but not created (transfer-IN), and value created but not appropriated (transfer-OUT). The VCr2025 proof-of-concept employs 102 Metrics to assess 1,000 listed firms, expanding from the previous year's 54 Metrics applied to 122 companies. The chapter systematically contrasts the SVC approach with traditional ESG frameworks, addressing their fundamental limitations: inconsistent measurements, reporting focus divorced from business models, limited data quality, partial stakeholder coverage, and performance decoupling. The VCr distinguishes itself through standardization anchored in business model logic, comprehensive stakeholder coverage, direct linkage to profit-and-loss statements, and integration of sustainability with actual revenue generation mechanisms. The framework organizes Metrics across four Rating Areas (Non-market Power, Market Power, Non-market Value, Market Value) structured within Power and Value Sub-Ratings. To enhance practical utility, the chapter introduces 17 VCr Themes organized across seven domains—Finance, Management, Operations, Governance, Environment, Society, and Technology—providing actionable categorization for strategic decision-making and capital allocation. The VCr's applications span corporate finance, valuations (debt, equity, firms), financial product innovation, and risk management, while complementing the macro-level Elite Quality Index (EQx) that measures national elite systems, thereby connecting micro-level business models to economic development outcomes through elite theory.Type:book section - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Value Creation Rating (VCr): A PrimerChapter 2 of the VCr2025 report introduces the Value Creation Rating (VCr) as a comprehensive firm-level sustainability measurement designed to distinguish sustainable value creation from extractive value transfers in business models. Developed within the Sustainable Value Creation (SVC) framework, the VCr aligns financial performance and risk origination with long-term societal sustainability by assessing how firms create, appropriate, or transfer value across a wide range of stakeholders. Unlike conventional ESG, CSR, or sustainability ratings, the VCr explicitly incorporates political-economy relationships, power dynamics, and institutional contexts. The VCr measures the proportion of value creation relative to value appropriation (revenue) by aggregating both inclusive value transfers (“transfer-OUT,” value created but not appropriated) and extractive value transfers (“transfer-IN,” value appropriated but not created). It is operationalized through a four-level architecture comprising 102 firm-level SVC Metrics, 12 Pillars, 4 Rating Areas (Non-market Power, Market Power, Non-market Value, Market Value), and two Sub-Ratings (Power and Value), which together yield a single VCr score. A complementary measure, the Value Creation Position (VCp), focuses more narrowly on the proportion of extractive value transfers relative to revenue. The chapter details the conceptual foundations, data sources, calibration methods, weighting schemes, and sector-specific baselines underpinning the VCr methodology. It also introduces applied tools such as the Sustainable Value Matrix, which positions firms according to profitability and value creation. Overall, the VCr is presented as a practical analytical and decision-making instrument for managers, investors, policymakers, and society to evaluate and transform business models toward long-term sustainable value creation.Type:book section - Some of the metrics are blocked by yourconsent settings
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Item type:Publication, VALUE CREATION RATINGS PILOT REPORT 2024 The Sustainable Value Creation of Firms(2024); The Value Creation Ratings Pilot Report 2024: The Sustainable Value Creation of Firms (or VCr2024) is an exploratory prototype that assesses 122 listed firms from the world’s leading economies on the basis of the value and risk creation and transfer exhibited by their business models. The Value Creation Rating (VCr) establishes the proportion of value creation in relation to revenue, while a second measurement, the Value Creation Position (VCp), establishes the percentage of value transfers in relation to revenue. It is the sister project of the already established Elite Quality Index (EQx2024) that measures The Sustainable Value Creation of Nations. Together, these two projects redefine sustainability in terms of how value is created and transferred in order to foster economic growth and human development. Sustainability is reconceptualized as the VCr2024 emphasizes that it must be considered in a more comprehensive manner, with high-impact phenomena like firm power, creative destruction, and innovation spillovers taken into account. Sustainability occurs when there is a greater proportion of inclusive value creation in relation to value transfers. The focus of analysis for sustainability in the VCRr2024 is the business model and on how revenue is generated by the firm. The VCr, like the EQx, operationalizes the dichotomous relationship between value creation and value transfer by looking at the total revenue of a firm and contrasting this with the respective proportions of value transfer-IN and transfer-OUT. Value transfer-IN is ‘value appropriated but not created’; value transfer-OUT is ‘value created but not appropriated’. Ascertaining value transfer-IN and transfer-OUT relies on sustainable value creation (SVC) Metrics to convert the activities of a firm business model into monetary terms. Each of the 54 Metrics used in the VCr2024 has a theoretically grounded rationale and draws on a unique data source. What are the main insights of the VCr2024? The VCr2024 pilot implements the incipient conceptual and technical apparatus to supply the VCr scores (and VCp percentages) for 122 of the largest companies in the world and presents these on VCr scorecards.Type:work report