myEcoCost delivers the economics of sustainability into the collective intelligence of society with the values to make simplified sustainability choices. If someone can understand the idea of 100% of daily allowance, used in nutrition for decades, we apply the same concept for sustainability.
This is the promise of myEcoCost.
This is a market enabling technology to self-regulate our way to an assured future.
Every good or service we consume has an environmental impact, through the raw material we extract from the earth to energy consumed in manufacture and transport. We know the financial cost of these products and services but not their environmental cost.
The ecoAccounting system is installed into a business’s network and interacts with the financial accounting system via an Application Programming Interface (API). The three fundamental steps, currently signalled in existing business systems, of “buy goods, make goods and sell goods” has an ecoAccounting equivalent: “receive ecoCost, calculate ecoCost, send ecoCost”. This means that once the ecoAccounting software has been configured and the API link between ecoAccounting and other relevant systems within the business, the ecoAccounting function runs automatically. The only maintenance is keeping ecoCost calculations up to date as business processes change, and the validation of ecoCost calculations from an independent third party each year.
This method and its unit of measure allows the delivery of an ecoCost to consumers.
The innovations in this method include:
It is important to note that the ecoCost is a comprehensive measurement of environmental impact. It is designed to capture all chemical compounds, not just greenhouse gases and water so that other issues such as the nitrogen cycle and loss of biodiversity can be actively measured as well.