Impact case study database

Professor Ferry has undertaken a range of activities in recent years to ensure that his research findings reach policymakers, including extensive work with government and accounting / accountability organisations, informing policy debates around resilience, VfM and fairness in communities, regions and society. His appointment as a Parliamentary Academic Fellow, working with the House of Commons Housing, Communities and Local Government Select Committee from March 2018, was the culmination of his earlier activities, which include giving extensive written and oral evidence to the UK Parliament, and working closely with organisations such as the NAO, the Ministry of Housing, Communities and Local Government (MHCLG), the Chartered Institute of Public Finance and Accountancy (CIPFA) and the Centre for Public Scrutiny (CfPS), where he disseminates, discusses, and advises on his research (including R1-R6), feeding into their activities and practices [E1, E4, E5, E9, E10].

Ferry’s written submissions to HoC HCLG enquiries have included those to: 1) The “Brexit and Local Government” enquiry, which led to his giving oral evidence to the committee [E9] in December 2017, focussing on what this may mean for the role of local government and place-based accountability especially given the increased commercialisation of local public services; and 2) the “Government interventions: the use of Commissioners in Rotherham Metropolitan Borough Council and the London Borough of Tower Hamlets” enquiry. The latter’s report quotes Ferry’s submission, in which he refers to his research findings, that austerity-localism causes problems in ensuring that local authorities provide value for money: “The framework is geared to prevent financial failure, which means financial pressure will more likely lead to service rather than financial impacts” [E10]. The HoC Public Administration and Constitutional Affairs Committee's 2017 report on "Accounting for democracy: making sure Parliament, the people and ministers know how and why public money is spent" cites a written submission by Ferry and Dr Chow (a former Durham colleague), that “under accrual accounting the revenue and expenditure statement will include items previously hidden from view”. This feeds into one of the report's recommendations, that "Accruals accounting has allowed Parliament and the public to gain a better understanding of how the Government uses its resources and manages its assets and liabilities. Accruals accounting is therefore a good basis for the further work" [E10].

The greatest impacts on policy of Ferry’s research, however, arise from his work as a Parliamentary Academic Fellow with the HoC HCLG from March 2018 to December 2019 (the appointment was extended beyond the usual 12 months) [E7], and his subsequent appointment in 2020 as an Adviser to the Committee. In both roles, Ferry worked with Select Committee MPs and officers in a research/advisory capacity concerning accountability and procedure arrangements. Ferry’s work with the Committee coincided with the need for scrutiny of the LAA Act 2014. As the HoC HCLG committee clerk (until July 2019) Ed Beale states: “Laurence’s original work proposals (sic) was to conduct research on local government accountability, particularly in a post-Brexit landscape. This was particularly attractive to the Committee… due to the fact the Committee was conducting an inquiry on the impact of Brexit on Local Government, and secondly because I knew the Committee would be required to conduct post-legislative scrutiny of the Local Audit and Accountability Act 2014 at some point in 2020.” Ferry’s scoping report led to the Committee, chaired by Clive Betts MP, requesting a full Parliamentary report (R1). As Ed Beale attests : “Clive agreed with the proposal and approach and felt it would be a valuable contribution to inform the Committee’s future work” [E7].

Ferry produced a full report for Parliament (R1), “Audit and Inspection of Local Authorities in England: Five years after the Local Audit and Accountability Act 2014”, underpinned by his research (R2 – R6), and extended via new research benefiting from his fellowship that supported HoC access to documents, and interviews with key stakeholders. The report’s executive summary was presented to, and approved by, the Chair and Clerk of the Select Committee. The full report was presented to the full HoC HCLG committee in July 2019 [E7] and formally published by the Committee, with the endorsement of the Committee Clerk that it was “considered … outstanding and high quality” [E7]. It is now available on the UK Parliament website.

The Select Committee chair, Clive Betts MP, formally sent Ferry’s published report to the Secretary of State “to help inform the post-legislative scrutiny evaluation of the Act” [E6]. “It is extremely unusual for the Committee to share with the Ministry any publication except its own reports”, attests Betts, who also stated that once the Government published their evaluation of the Act, Ferry’s report would be “the basis of the Committee’s consideration” (of the evaluation findings) [E8].

As a result of the work of Ferry and the select committee, drawing attention to the fact that a higher level of scrutiny of the LAA Act 2014 than legally required was necessary, the Secretary of State announced in July 2019 [E3, E6] that Sir Tony Redmond would carry out an independent review of the local authority audit framework and of the transparency of local authority financial reporting in England. Upon receiving Ferry’s report from the Committee, the Secretary of State commented that he was “ confident it will help to inform Sir Tony’s findings” and that he expected “Sir Tony will want to meet separately with … Professor Ferry” [E6]. This review is the first to be fully focused in recent years on public sector audit, after four recent reports focussing on issues in the private sector (Brydon, Competition and Markets Authority, Kingman and Business, Energy and Industrial Strategy Committee). Ferry was subsequently invited by Redmond to sit on the Review’s seven-member Advisory Panel as the only academic expert, alongside high-ranking members of Government departments and auditing organisations [E1, E3]. The Panel endorsed using the HCLG Select Committee (Ferry’s) report [R1] as “it contains useful evidence which could be utilised by the Review” [E3] and Ferry was also interviewed as part of the review. Redmond attested that Ferry’s “knowledge and expertise have been invaluable” and that his “report - Audit and Inspection of Local Authorities in England: Five years after the Local Audit and Accountability Act 2014, will play a part in informing the final Report and recommendations” [E3].

Alongside the Redmond Review, 2020 saw the publication of the NAO’s latest Audit Code of Practice, for auditors of local authorities, health bodies, police and fire. Ferry’s findings led to changes to the Code, which now enables local auditors to feed information to the NAO, and around consideration of financial resilience and VfM matters; the NAO’s Director Aileen Murphie attested (prior to the Code’s publication) that “a loss of available information for the public on value for money locally is well proven by your [Ferry’s] work and has been picked up by the NAO as an issue in the renewal of Code of Audit Practice”, and that Ferry’s recent work led to “much discussion and helped to move the revised Code towards a proposed narrative value for money conclusion … The new conclusion should be much more tailored to the issues of individual places, their financial resilience and be a great deal more informative.” The Audit Guidance Notes, used by auditors to interpret the Code, have also been informed by Ferry’s work [E4].

The Redmond Review report was published in September 2020, recommending significant changes to public audit [E1], including tackling many issues highlighted by Ferry in his Parliamentary report [R1]; “I have been guided by the need to see more accountability and transparency in the local audit system and my proposed recommendations reflect these principles” said Redmond [E1]. These include the recommendation that an Office of Local Audit Regulation is created to oversee, procure, manage and regulate the external audits of local authorities in England. The creation of such a body requires primary legislation, and such discussions of a law change will bring this issue into the wider Parliamentary consciousness. This new body would overcome the serious concerns highlighted by Ferry around fragmentation of the current bodies involved in the audit process, and auditor independence and sustainability of the market, around audit competition. The implications around audit scope concerning VfM arising in particular from Ferry’s report were also considered by Redmond; Redmond endorsed the changes to the latest NAO Audit Code of Practice from earlier in 2020 that Ferry’s research had also informed. In addition, inspection concerns relating to service and financial viability are recommended by Redmond to be shared between local auditors and inspectorates, further reflecting points highlighted by Ferry. Finally, a simplified statement of service information and costs is also recommended to be prepared by each local authority to assist comparison with what was promised and to enable a judgment on performance, addressing some of Ferry’s concerns around performance information. Overall, these recommendations to the government by Redmond strengthen public accountability for democracy in line with Ferry’s research.

Upon the publication of the Redmond report, the Secretary of State for Local Government, the Rt Hon Robert Jenrick MP, stated that he “will consider the findings and recommendations carefully”; the press release also confirmed that the MHCLG would “carefully consider the recommendations proposed, which will play an important strategic role in strengthening the overall framework for local accountability” [E1]. On 17 December 2020, the UK Government’s MHCLG published their response to the Redmond Review. Of the 23 recommendations made by the review, the Ministry agreed to 14 of the recommendations, partly agreed to a further 2, and are considering the other 7 recommendations further, offering a full response to these in Spring 2021 [E2].

Through the KTPs, the two companies have used the Durham findings to develop different marketing toolkits (d360° for DECIDE; Real Time Tracking apps and Clarity Insight Tools for KHWS) which are actively supporting their business growth and development, embedding Xiao and Nicholson’s research into their working practices and daily operations. Upon starting their collaborations with Durham, these agencies were each generating annual sales revenues of approximately [redacted], and with less than 100 employees, one based in the North East of England and the other located in central London. Both have expanded their geographical footprints: DECIDE into central London, as a base for international expansion, and KHWS from a European footprint to one now encompassing large areas of the Middle East.

Between 2014 and 2019, 2 knowledge transfer partnerships (KTPs) [E1-E4] with 2 marketing agencies, DECIDE and KHWS, applied the findings and results of Xiao and Nicholson’s research (R1 & R2) to develop toolkits for use by the companies. Based on the behavioural situations and behavioural types identified in R1, further research carried out within the first KTP led to the development, for DECIDE, of an industry-leading tool – the d360° strategic marketing planning toolkit. This is a consumer journey mapping tool that provides nine perspectives (‘lenses’) through which to simultaneously tackle clients’ (business customers’) marketing planning and activation issues (around questions of who? what? how? when? where? and why?). The toolkit includes a shopper archetypes tool, journey mapping facilities, touch-points identification and control methods, and real-time tracking performance measures. The novelty of DECIDE’s final marketing toolkit is the combination of their original product design evaluation tool (d3eclipse) with d360°, so that it can provide packaging and brand designers with both creation and consumer-relevant personalised information. The findings from R1, on understanding consumer situations, also provided a foundation to develop detailed shopper archetypes for the d360° toolkit. By integrating findings from R1, R2 and R3, a novel real-time tracking method was developed to measure consumer behaviour changes in response to specific sales triggers during the purchase journey. These were some of the first field experiments in the marketing sector using mobile phones for real time tracking, which enhanced the accuracy of prediction about when particular marketing tactics would be most/least effective during a commercial behavioural intervention. In a second KTP, the Durham team and company KHWS developed real-time mobile apps and the proprietary Clarity Insights Toolkit (CIT). The CIT is a four-stage methodology that integrates real-time consumer tracking (using context-depending situations, R1), sales trigger identification (using the findings of R2 and R3), creative development and laboratory-testing of marketing stimuli (R1, R2, R3), with the research of Xiao and Nicholson underpinning each stage with more robust methods and a strong behavioural science evidence base.

The d360° toolkit (developed from the underpinning research that encompasses shopper archetypes and insights from knowledge about consumer journeys) has had a significant impact on DECIDE, for its staff, clients, and financially. DECIDE described the KTP’s influence on daily work practices [E1] as “… impacting internal briefing sessions by encouraging creative teams to think more holistically about the target audience for their design work.” A full-time post in strategic planning was created for the DECIDE KTP associate, once the KTP had ended, in order to continue making the changes advocated by the research.

d360° has provided direct financial gain for the company during and following the KTP (E1 and 5):

Specifically, KTP-derived knowledge, based on the underpinning research, has enabled enhanced strategic consultancy fees (i.e. for insight & research-led work or high-level design direction) to be levied on a greater number of projects [E1, E5]. The associate CEO of DECIDE commented that: “ Collaboration with DUBS and Dr. Sarah Xiao has helped cultivate and embed a more ‘research-first’ mindset within the entire organization of c40 employees. It enabled us to confidently pitch for, and take on consumer research projects with organizations including [redacted] . To date, these such research projects have commanded fees in excess of **[redacted]” During the KTP (2015-2017), DECIDE’s use of the developed d360° toolkits enabled direct additional revenues of approximately [redacted] from their clients, including leading FMCG brands [redacted] [E1, E5]. Since the time of the project, the KTP outputs have continued to enable DECIDE to gain further financial wins, ensuring greater business stability. DECIDE’s CEO states: “ Since then however we have also been invited to present to [redacted] . This resulted in a further [redacted]* *brief on a new global brand for DECIDE. [redacted] and an introduction to [redacted] wider brand teams for health and personal care. This has provided a platform to collaborate and a forum to support on brand activations for 2019. We are in the process of leveraging this and are prospecting within the wider OTC health care arena with clients including **[redacted]**” [E5]. In addition to this (greater than) [redacted] confirmed revenue, DECIDE have continued to obtain new clients of global brands with much greater revenues on the horizon: “ We have to date been invited to share the d360 approach to shopper journey planning and key insights from the KTP research with senior shopper/brand teams within large scale organisations including; [redacted] ” attests the CEO [E5].

“Furthermore, in 2018 after a lengthy pitch process, we were appointed as one of only three Shopper Marketing agencies to serve [redacted] s entire UK brand portfolio, [redacted] . Our knowledge of shopper, depth of understanding on shopper behaviour, and our commitment to continuous learning via academic collaboration formed a key part of our proposal. These were all considered important ‘added value’ factors in our successful appointment to the roster. [redacted] [CEO, E5]

The tools developed in the KHWS KTP have improved the company’s working practices and added new knowledge and capacities: “ The KTP has exceeded all expectations and KHWS now have a distinct Value Proposition and a behavioural science based model and proprietary tools” [E4]. The Durham tools are being used to increase the effectiveness of marketing campaigns by KHWS for their clients: “ Our Clarity Insight tool provides a proprietary research methodology that tells clients something they did not know about their audience’s purchase behaviour. These insights then inform our creative development to deliver marketing campaigns that resonate with the dominant purchase behaviours. KHWS are now in a position to introduce our offering to any consumer sector with the confidence it is robust and validated with academic rigor.” [E4]

In the final KTP report [E4, section 3], the CEO of KHWS stated: “ Over the 2 year KTP project, we have refined our model into a very robust insight and creative execution model and tools that has provided a strong and differentiated value proposition and market position for KHWS. As a result we are attracting new clients, raising our industry profile and refining the way we deliver marketing campaigns for our existing clients. In short it has been a complete success.”

The KTP has significantly changed the way KHWS staff approach campaigns:

“Prior to the KTP, the staff in KHWS were not aware of how behavioural science could be used to enhance our offering to clients. The training we have undertaken to the staff has put our Insight model and Tools at the heart of the agency” [E4]. KHWS have trained approximately 50% of their 100 staff on the behavioural science model underpinning the Sales Trigger Compass tools, and other tools developed with Durham, through their inclusion in the staff handbook, a 2-hour course for senior staff on the tools and model which is updated every 6 months, and monthly meetings for the whole company where new examples of the tools’ use are presented. The company have a copy of the model on every desk, a 90-page guide produced by the KTP associate, and have invested in EEG (electroencephalogram) headsets and analysis software, in order to study triggers in laboratory testing.

The KTP’s new models and marketing tools enabled KHWS to make an additional [redacted] in sales turnover through consultancy revenues [E4, E10] during the KTP: “…The new model and tools are the key focus of our new business strategy and outbound marketing campaign. They are driving appointments with prospective new clients and enabling KHWS to work with senior stakeholders. The KTP has informed the starting point for the majority of projects for new clients i.e. Clarity Insight Tools.” Through this [redacted] contract, multinational corporations, comprising many household names, were indirectly influenced by the KTP research: “The [redacted] is made up of: [i] [redacted] - our insight model informed a new proposition and creative development - [redacted] … [ii] [redacted]* - developing category leadership activity in grocery, ecommerce and on trade for Whiskey, Rum and Gin categories - [redacted] …[iii] [redacted] - developed ecommerce playbook to drive sales across major grocery ecommerce platforms - [redacted] ” [E4]. KHWS also reported outstanding proposals worth over [redacted] with [redacted] at the time of KTP final reporting [E4], and reported the expected sales turnover post-KTP from Durham research-enabled development as [redacted] (for 3 years from March 2019), from clients such as [redacted] [E4, E9].

External to KHWS, the tools developed in the project have been disseminated across the FMCG sector, through a series of industry reports [E6, E7, E8, E10] supported by quarterly breakfast briefings to FMCG brands in London, hosted by Andrew Watts (KHWS) and Prof. Mike Nicholson (Durham). Four commercial reports have now been published and disseminated to industry: Proceed to Checkout [E6], Proceed to Checkout 2.0 [E7], Winning at Shelf [E8], and Why would I buy that? [E10]. The average dissemination is to around 2,000 brands in the FMCG sector. Seven related events were staged over the two years of the KTP, with an average attendance of approximately 90 Brand Managers at each briefing. Professor Nicholson has also conducted bespoke workshops for key KHWS client brands including [redacted]. The Durham partnership is prominent on KHWS’s website: the homepage alone contains a link to Winning at Shelf at the top of the page, has the ‘Clarity Tools’ as one of 6 direct links in its header and 2 of the page’s segments include the Durham collaboration (it is described in an ‘Our Approach’ segment, and there is a further segment dedicated to ‘Winning at Shelf’). The website also has a page dedicated to the Durham collaboration [E10]. Finally, some 10 internships and 4 permanent full-time posts within KHWS have been secured for Durham students and graduates, while the toolkit developed is embedded within undergraduate and postgraduate curricula to enhance graduate employability skills.

Overall, the CEO of KHWS [E4 (p12)] described the project as “one of the most inspiring and commercially beneficial projects I have worked on in over 30 years in the marketing industry. Not only has it delivered proprietary tools but it has led to a long term relationship with academia.”

Developing on R1 and R2, a World Bank Policy Research Working Paper (E1a) co-authored by Ahmed played an important role in framing the strategy for Islamic finance and SDGs at the World Bank and Islamic Development Bank (IDB) Group. IDB is a multilateral development bank for Organisation of Islamic Cooperation (OIC) consisting of 57 member countries. Dr. Mahmoud Mohieldin (Senior Vice President for the 2030 Development Agenda, UN Relations, and Partnerships), World Bank, acknowledges that the paper “helped shift the discourse and the link between Islamic Finance and the SDGs” and “helped identify and articulate more clearly the role of Islamic Finance in contributing to the implementation of the 2030 Agenda and the SDGs” (E1b). He further adds that “It was very encouraging to find out that the paper also led to an internal discussion at the Islamic Development Bank on how to best align its work with the implementation of the 2030 agenda and the attainment of the SDGs” (E1b).

Furthermore, Ahmed’s research paper for the UN (E2a), “Contribution of Islamic Finance to the 2030 Agenda for Sustainable Development”, served as the background paper for a session (and interactive discussions) on ‘The Role of Development Finance Institutions in Achieving the SDGs’ at the ministerial level High-Level Conference on Financing for Development and the Means of Implementation of the 2030 Agenda For Sustainable Development held in Doha on 18-19 November 2017 (E2b). A referral letter from the Director of Financing for Development, United Nations, appreciated the presentation in highlighting the progress and challenges related to the financing of the SDGs (E2c).

The outcome of the conference resulted in ten “Doha Messages” (E3a) that were fed into the 2018 UN Economic and Social Council (ECOSOC) Forum on Financing for Development follow-up (23-26 April 2018) and the High-level Political Forum on Sustainable Development (9-18 July 2018). A significant part of the ninth Doha message was based on the deliberations of Ahmed’s research presented in the session on Islamic finance which highlights that “ Islamic finance plays important role in promoting the social inclusion [sic], channelling resources for social investments through solidarity-based Islamic finance products; and contributes to fill the large financing gap for investment in sustainable infrastructure. It has the potential to contribute to the achievement of the SDGs” (E3a).

The event and the Doha messages drew the attention of other development-related institutions, such as the International Institute for Sustainable Development, which also acknowledged the role that Islamic finance can play in achieving the SDGs (E3b). Aamir Rehman, Senior Advisor, United Nations Development Programme (UNDP), confirmed the contribution of Ahmed’s research to UN activities by stating that “ In addition to acting as a key reference for our November 2017 event, the paper remains highly relevant as the UN deepens its involvement with Islamic finance stakeholders. It has been cited internally both by a core team working on Islamic finance and senior leadership within the UN as we develop our approach to Islamic finance” (E3c).

Ahmed’s research (E4a) was presented and discussed by government representatives of different member countries and international multilateral organisations at the Seventh Meeting of the COMCEC Cooperation Working Group meeting in Ankara on 20 October 2016 (E4b). After the deliberations at the meeting, five policy recommendations from E4a were selected for presentation at the ministerial level Thirty-Second Session of the COMCEC in Istanbul, 21-24 November 2016 for members to consider for adoption (E4c). The ministerial level session finally adopted all five policy recommendations “as reference guidelines for the Member Countries to develop Islamic Financial Architecture” (E4d, Agenda item 11). These recommendations relate to developing legal and regulatory frameworks, sound governance and Shariah governance regimes, consumer protection and financial education and liquidity infrastructure for Islamic financial sector. While some of these recommendations appear in Ahmed’s underpinning academic research (R3-R6), they are directly based on the research study (E4a) that outlined policy recommendations on seven infrastructure elements.

A referral letter from the Director General of COMCEC indicates that the member countries can “extensively benefit from [Ahmed’s] study in strengthening the financial architecture institutions necessary for the sound development of the Islamic financial sector” (E5). Furthermore, the Secretary General of Accounting and Auditing Organisation for Islamic Financial Organisations (AAOIFI), which is the International Financial Reporting Standards (IFRS) equivalent for the Islamic financial industry, who attended the COMCEC events, also acknowledged that the report E4a identified various problems and proposed practical solutions, some of which AAOIFI has addressed in its standards related to the National Shariah Board (E6). Being international guidelines, AAOIFI Shariah standards have been adopted in 21 jurisdictions, which includes national regulatory bodies (such as Afghanistan, Bahrain, Iraq, Jordan, Lebanon, Libya, etc.), international financial centres (such as Astana Financial Services Authority, Dubai International Financial Centre, Qatar International Financial Centre) and a multilateral development bank (Islamic Development Bank).

The policy recommendations resulting from E4a and adopted at the 7^th meeting of the Financial Cooperation Working Group (E4b) and 32^nd Ministerial Session of COMCEC served as reference guidelines for the interested governments of 57 OIC Member Countries to develop their Islamic financial architecture (E4d). In addition to translating the research into Turkish, COMCEC has followed up on the recommendations from the research as stated by its Secretary General: “ under the COMCEC Project Funding, some member countries, such as Gambia, have implemented projects aiming to develop Islamic Finance industry in their respective countries. Turkey will also implement a Project on Enhancing Consumer Protection in Islamic Finance” (E7).

The Participation Banks Association of Turkey (TKBB), an umbrella organisation of Islamic (participation) banks in the country, acknowledges the role the report played in the establishment of a central Shariah body and in strengthening the liquidity infrastructure in the country, as stated by Mr. Osman Akyuz, Secretary General of TKBB:

“While the report has useful recommendations covering various aspects of the financial architectural institutions, we have particularly benefitted from the Shariah governance regime section of the report. The report rightly identifies the importance of a central Shariah advisory board standardize contracts [sic] to mitigate various legal and Shariah risks and build consumer confidence. As an umbrella organisation of the Islamic banks in the country, we have accordingly taken initiative to create a central Shariah body that would oversee the Shariah issues related to the participatory (Islamic) banking sector in Turkey.”

He further adds: “ We hope to examine other recommendations identified in the report (such as strengthening the liquidity infrastructure) to further enhance the development of Islamic finance industry in Turkey” (E8a)

The report also contributed to developing the liquidity related instruments in AlBaraka Bank in Turkey, as affirmed by Mr. Melissah Utku, Board Member & General Manager of the bank:

“Our bank has used the recommendations of the report and taken initiates to develop short-term Shariah compliant liquidity instruments and establish Islamic money markets in coordination with other banks.” Furthermore, he adds: “ We have used recommendations of the report in our planning and discussions with other stakeholders to identify the key issues that are necessary for a [sic] have a robust liquidity infrastructure for participatory (Islamic) banks in Turkey” (E8b).

The Republic of Cyprus has faced a deep banking crisis since 2013, with currently almost half of the bank loans in Cyprus non-performing (i.e. in default) and major banks being bailed out by the government by charging a one-time levy on citizens’ bank deposits over a certain limit. Alongside this, the country faced unprecedented debt defaults and legal court cases from national and international investors who had been mis-sold mortgage agreements by property companies. These events were symptomatic of the widespread lack of financial literacy in the country, which led to excessive risk taking and the crisis. However, the problem of financial illiteracy had never been openly recognised or discussed in the policy arena, prior to the research studies (R5 and R6) of Durham University academics. Durham’s research provided the much-needed scientific evidence base to kick-start a policy agenda and to create a national strategy for financial literacy in the country, which as shown below, is now being implemented.

R5 provided the main focus of the high-level Policy Forum on 4 November 2016, R3 and R5 were presented and debated in the Policy Forum on 2 November 2018, both events were hosted at the Central Bank of Cyprus (CBC), and additionally R5 was the main focus of one public event on 13 February 2018. The events were widely covered by the national media (e.g., Sigma TV, Capital Media, RIKnews) and led to significant interest from various Ministries (Education, Culture, Commerce) and commercial banks (E1). Distinguished speakers included the Governor of Cyprus, the MEP (Member of European Parliament) for Cyprus, an OECD high-level representative, CEOs of the various commercial banks, and representatives from the various Ministries, along with the Durham University research team. R5 and R6 were discussed and heavily cited in the presentation at the European Commission and CBC joint policy conference on “Indebtedness and NPLs: Achievements and challenges” on 5 February 2020. DU researchers provided oral evidence to the European Parliament on 8 November 2019 on digital financial education provision and at the Parliament of Cyprus on 25 November 2020 discussing Cyprus’ Financial Literacy National Strategy.

These events have resulted in specific impact, which is evidenced at two levels.

First, as a direct response to the evidence documented by the research study (R5), several grassroots public organisations, commercial banks, economic associations and educational institutions responded with new initiatives:

• The Cyprus Economists Association started new financial awareness programmes: to date 3 training programmes have taken place, with approximately 400 people attending them. The Association President’s letter quotes the research: “…we had taken the documented results seriously and in our governance meetings, we have discussed extensively the problems we face in the country. We believe that the first step to making the citizens of the country more financially literate is to raise awareness… during the years 2017 and 2018, we dedicated our efforts to offer financial awareness to our members and the public. Up until today, we have run three such financial awareness programmes inspired by your research…All above events were open to the public and have been attended by more than 400 people so far…Our aim is to carry forward an agenda which will includes similar programmes offered to our members and the public.” (E2)

• The Municipality of Larnaca (via its Open University) started providing, for the first time, financial literacy skills training to the public, as part of its plans for regional development. The Mayor’s letter attributes their interventions directly to DU research by quoting R5. Mayor of Larnaca writes (translated from Greek): “Taking into consideration the problem of financial illiteracy highlighted above, the Open University of the municipality has already offered informative and educative lectures/courses about financial knowledge to the people”, “in every course there are around 100 individuals. Until today, 2 educative seminars have been completed, the first in March of 2018 and the other one in November of the same year. In addition, we will provide a series of 3-week courses about financial literacy, one 90-minutes class every week. It is expected that the fundamental issues of financial literacy will be covered.” (E3).

• A new financial literacy programme was offered by the largest commercial bank in Cyprus, Hellenic Bank, with Ministry of Education. E4 is the media article which discussed the recent research findings conducted by DU academics and the bank’s decision to offer training to the public as part of their Corporate Social Responsibility (CSR) actions. E4 explicitly states that the programme includes “the provision of high school students' training in topics of personal budget management, responsible consumer behavior, savings behaviors and the time value of money. The workshops will be held in cooperation with the Ministry of Education.” Further, the article states “Hellenic plans, in cooperation with REACTION, to train people living in about 150 villages for e-services, such as completing an online income tax statement, web banking and more on e-payments” (E4).

• The Cooperative Bank of Cyprus offered PhD studentship funding to Cyprus University of Technology to undertake research into financial literacy in Cyprus. An InBusiness news media article on the public event announcing this decision is evidenced in E5, quoting the DU researchers and the findings in R5 explicitly: “ According to today's announcement, the study commented on the results of a survey among 880 Cypriot students who recorded their level of knowledge in basic financial concepts…Research shows that only 6% of respondents are able to answer these questions with complete success” (E5). Note that R5 is the only research paper documenting financial illiteracy among students in Cyprus.

• The ‘Cyprus Consumer Union and Quality of Life’ President’s letter cites the papers R5 and R6 as the scientific evidence on the basis of which they are developing their first guidebook in financial literacy on topics of budgeting, managing and eliminating debt, retirement planning and savings. It secured funding from the Ministry of Education for printing 5,000 copies and distributing them to all their members and consumers across the country. They are organising training seminars and educational workshops across the country to build awareness about the problem, teach and educate Cypriot consumers on financial literacy, aiming to reach more than 2,000 consumers in 2020 and 2021 (E6).

• The Youth Board of Cyprus introduced personal finance courses aimed to reach 200 young people in their first year. The General Director quotes R5 “the seriousness of the problem became apparent when we first read the scientific evidence in your research published in the Cyprus Economic Policy Review that 6 in 10 young people can be classed as financially illiterate”, “and feels challenged by the fact that the problem is heightened among young people”, “we are delivering a training course on the subject of “Personal Finance”, “the organization’s Board of Director has approved a budget amount of 10.000 euro for conducting a field survey…to examine various aspects that can explain the problem of financial illiteracy among 15-year old students”. (E7)

• The Centre for the Advancement of Research and Development in Educational Technology (CARDET), with EU partners, has developed the Euroinvestment game, funded by the European Commission Erasmus+ programme ( www.euroinvestment-project.eu). In their Strategic Plan for financial education of low-skilled adults in Europe online, using the game, they explicitly quote detailed findings in R5 as their scientific evidence for low financial literacy levels in Cyprus.

Second, as a direct response to the DU research, the Cyprus government decided to embark on a national strategy for financial education (E8). This was a policy recommendation stemming from the research paper, R5, which acted as a pilot study for the government. As cited in two government press releases on 4 November 2017 and 2 November 2018 (E1), Durham’s research study (R5) results provided the vital evidence base for the Cyprus government to embark for the first time on the new policy agenda to develop a national strategy for financial literacy for Cyprus. As a direct consequence of the research paper (R5), the Central Bank of Cyprus was given the mandate by the Governor of Cyprus to carry out the first-ever national benchmark household survey on ‘Financial Literacy and Inclusion’ for Cyprus. To quote from E8, the Director of the Economics Analysis and Research Department of the Central Bank of Cyprus said , “The financial literacy pilot study on college students in Cyprus [R5]…was a timely attempt to understand the growing concern of financial illiteracy in the country. The pilot study results highlighted the need for a nationally representative benchmark survey as an important step towards measuring financial literacy levels among the various population segments in the country. Hence, recently the CBC Board has approved the budget of approx. EUR50,000 [09/2017] for undertaking this benchmark survey” (E8). The Durham research team partnered with CBC to design the national survey questionnaire, with the expertise bolstered from designing Indian benchmark surveys, and building on the Cyprus survey questionnaire used in the empirical design of R5 and the OECD guidelines. To quote from E8 “(Durham University researchers were) instrumental in jointly developing the financial literacy survey questionnaire for Cyprus.” The national survey was fielded between August and November 2018.

Durham researchers were also involved in preparing the White Paper that analyses the primary benchmark data and proposes recommendations to the government of Cyprus. E9, the Central Bank Official Presentation released to the public, mentions “The first results of surveys on financial literacy in Cyprus were conducted among students (Andreou and Philip 2018) and raised awareness about the problems. It also highlighted the need to conduct a survey on the whole population.…The preparation of the questionnaire and the analysis of the results were conducted in collaboration with expert academics from Durham University (Professor Dennis Philip) and Cyprus University of Technology (Dr. Panayiotis Andreou)” (E9). The White Paper feeds directly into the policy interventions on implementing financial literacy materials in the educational system of the country.

A noteworthy policy intervention happened at the European Parliament's Office in Nicosia on 8 November 2019, where Professor Andreou provided oral evidence, based on the two research papers R5 and R6, for the “ Motion for a European Parliament Resolution on the European Central Bank Annual Report for 2018”. Mr Costas Mavrides, who is the MEP for Cyprus and the appointed rapporteur for the preparation of the motion, was to draft and present the motion in front of the European Parliament and its members to cast a vote so to become an official policy guidance to the ECB. The letter from Mr Costas Mavrides refers to the papers R5 and R6 explicitly and mentions that they “contribute significantly to the enrichment of the proposal for a European Parliament’s motion for resolution on the [2018] Annual Report of the European Central Bank”. (E10). The letter also mentions “On the basis of the above-mentioned and your suggestions as shown in your studies, in my capacity as rapporteur for the preparation of the motion for resolution for the European Parliament, I intend to include in my work specific reference to the need of digital and financial education of citizens aiming to resolve the problem of digital financial illiteracy.” (E10).

The underpinning research has been utilised and made relevant through each of the forces participating in repeated large-scale surveys that have been conducted for all police officers and staff, on average every 18 months. Using quantitative analytical techniques, factors having the largest impact on focal measures have been identified and priorities for action recommended. Working with executive teams, senior leaders and staff representatives to discuss the research evidence and implications of the findings, effective interventions and changes to working practices and policies have been developed (E1 p.13, 45 and 74).

The findings in R1 and R2 increased understanding within policing of the risks that high PSM can have for individuals under conditions of high workload, as they attempt to meet the needs of the communities they serve despite incurring costs to their own wellbeing (E1 p.10 and 15). The research [R1] demonstrated that these negative effects on employees can be ameliorated by the adoption of supportive HRM practices. Furthermore, the findings of R3 demonstrated the importance of workforce perceptions of HRM practices and, in particular, of organisational support for police officer and staff wellbeing, discretionary effort and performance (E1 p.15, 21 and 41). The findings [R1, R2 and R3] have directly influenced the development and delivery of HRM policy within police forces (E1 p.1 and 54) and employee wellbeing strategies (E1 p.7, 10 and 49). Examples of policy changes introduced in forces as a result of this research to improve HRM practices and workforce perceptions of organisational fairness and support, and hence their wellbeing, include changes to promotion processes, (E1 p.6, 41, 46, 51, 54, 56, 62 and 65); improvements to how sickness is managed (E1 p.6), improved bereavement policies (E1 p.15), improvements to personal development processes (E1 p.11, 56, 62 and 67); the introduction of wellbeing champions, who speak up on issues of concern for their colleagues, (E1 p.7, 17, 46, 51 and 68); physical fitness campaigns (E1 p.7 and 17); rebalancing and addressing workload concerns (E1 p.65 and 73); reduction in cancellation of rest days (E1 p.62) and a more supportive approach to handling how complaints and misconduct allegations are investigated and dealt with (E1 p.15 and 56).

The research [R4] on challenge and hindrance stressors was “a new concept” in policing (E2) and has been received with particular interest (see for example, E1 p.10, 16, 46, 60 and 64). Working with Durham Constabulary, Professor Les Graham developed the “ 100 little things” intervention which demonstrated that the force valued the workforce and their contributions and cared about their wellbeing. Through asking the workforce to suggest ideas on how their wellbeing could be increased small changes were then made to improve processes, equipment and conditions to remove hindrance stressors or as they are known in policing ‘barriers’ to people doing their job well. As the Chief Constable of Durham Constabulary commented “ The evidence and finding that it is not so much how hard a person works, but that it is the difficulties, frustrations and barriers that individuals face in their work that have a larger impact on an individual’s wellbeing has had a very large impact on our thinking and has allowed the force to develop effective interventions and policy changes” (E1 p.16). The effectiveness of this programme was identified and evidenced by the HMICFRS (2017) (E3 p.28, p.54, 55 and 64, and E1 p.16) and interventions to reduce hindrance stressors have been implemented in forces across the UK (see for example, E1 p.1, 7, 10, 17, 38, 40-41, 46, 51, 54, 60, 62, 64, 67, 70 and 75).

The research [R5, R6] demonstrated the benefit of adopting a supportive leadershipFootnote:

Servant leadership has been renamed and is known as supportive leadership in policing. style in place of an authoritarian style for police officer and staff wellbeing, discretionary effort and service behaviour. Consequently, there has been recognition across policing of the need to move from the traditional authoritarian style to a more supportive leadership style (E1 p.8, 10 and 70). As commented by the Chief Constable of Hertfordshire Constabulary “…importantly the work with Durham University has fundamentally changed the leadership debate within the Constabulary” (E1 p.50). Based on the research, Durham Constabulary adopted supportive leadership as the preferred style (E1 p.27) and established a leadership academy (E1 p.17) to provide training to all supervisors within the force. The impact and importance of adopting this leadership approach was recognised by the HMICFRS “The new, supportive leadership approach has been developed in conjunction with the university and has been widely publicised. This approach has evolved in Durham Constabulary over the last four years. It rests on a combination of academic theory, staff surveys, and previous learning and analysis of what has worked. The approach to leadership underpins the strategic direction of the constabulary through organisational attitudes and behaviours, valuing people and talent development” (E3 p.109). Other forces that have made significant investments based on this research and completed extensive leadership training include Devon and Cornwall Police (E1 p.10); Essex Police (E1 p.38), Gloucestershire Constabulary (E1 p.42, 44); Greater Manchester Police (E1 p.45-47); Merseyside Police (E1 p.55) and South Yorkshire Police (E1 p.62).

The research findings have been presented on the Strategic Command Course (SCC)Footnote:

The SCC is a statutory requirement for officers seeking promotion to Assistant Chief Constable and above. for the past three years (E1 p.14) and there is clear recognition that this has supported the development of future chief officers and other senior police practitioners (E4 p.1 and 2). Wider dissemination of the findings has also occurred through five annual practitioner conferences held at Durham University (2015, 2016, 2017, 2018 and 2019). These have proven useful in facilitating the exchange of ideas and establishment of a network of interested experts from different forces to develop the impact of the research further (E1 p.40, 53, 59 and 62).

Longitudinal studies using matched employee responses have demonstrated the achievement of improvement in focal measures in a growing number of forces (see for example, E1 p.16, 43, 45, 57, 63, 64, 68, 70, 73 and E3 p.28). Furthermore, there is recognition of the direct contribution of the research to the improvement of HMICFRS ratings of forces (see for example, E1 p.39, 43, 55, 68-69, 72-73 and 75). Of particular note are the performances of Durham Constabulary and South Yorkshire Police. The Chief Constable of Durham Constabulary acknowledges that “…Durham Constabulary has been assessed as the only force to be outstanding by Her Majesty’s Inspectorate of Constabulary and Fire & Rescue Services (HMICFRS) for four consecutive years. The research has been a significant enabler of this achievement” (E1 p.14). The Chief Constable of South Yorkshire Police observed “…in 2016, at the start of our work with Dr Graham and the University, South Yorkshire Police was rated as ‘Requires Improvement’ in most areas of inspection with some areas identified as ‘Inadequate’. This left the force ranked bottom of the 43 forces in the country. Since this time performance improvement has been driven across the organisation to the extent we are now graded as ‘Good’ in all areas and ‘Outstanding’ around ethical conduct, moving us in to the top five forces nationally. In summary, the excellent quality, detailed and meaningful research conducted by Dr Graham and the University, has provided us with a strong evidence base to assess the many organisational changes that have been undertaken since 2016” (E1 p.63).

On 23 May 2018, the then Home Secretary announced the need for police reform and that a review of policing would be conducted to improve wellbeing, efficiency and productivity of policing on a national scale. In acknowledgement of the impact of the findings [R1- R6] on forces, the Rt. Hon Nick Hurd MP, then Minister of State for Policing and the Fire Service, appointed Professor Les Graham to the Front Line Review Steering Group (E5 p.1). The research findings (summarised in E6) informed the direction for the review (E5 p.2), were presented to Home Office officials out of committee and to the Policing Minister bilaterally (E5 p.3), and made a direct influence on the recommendations in the Home Office Front Line Review (FLR) of Policing Policy Report (E7 p.4, E1 p.78). The then Policing Minister stated (E5 p.4): ‘I am so grateful to you for the hugely constructive way that you worked with us and helped bring greater depth, rigor and understanding to the evidence base.” The FLR Review report (E7) set national policy regarding: the need for forces to achieve the right balance between meeting demand and supporting individuals (directly influenced by R1, R2, R3, R5 and R6), the reduction of internal demand (influenced by R4) and a commitment to change how the wellbeing of the policing workforce is evaluated through both the establishment of a national mechanism for wellbeing provision and changes to how HMICFRS inspect wellbeing within forces (influenced by R1- R6). Furthermore, the FLR Review report confirmed that police funding would be increased by more than GBP1billion for 2020 (E7). As observed by the Thames Valley Police Director of People, there is no doubt that the research findings have “directly informed the Front Line Review, shaped policy and influenced funding decisions” (E1 p.78).

As stated by the College of Policing Lead for Wellbeing: “The key aspects researched by Durham University have undoubtedly deepened our understanding of the challenges policing has faced regarding maintaining the wellbeing of the policing workforce in a period of deep austerity” (E8 p.1). From their work with the Durham team, the College have changed their Senior Leadership Development Programme (aimed at chief inspectors, superintendents and staff managers at similar levels). “Trainers have since incorporated the principles of supportive leadership into the SDLP and it occupies a full day of training”, and the “key supportive leadership principles have been mapped with the College of Policing’s Beyond 360⁰ assessment tool”, so that police leaders on the course will now “not only be able to understand the concepts of supportive leadership and the state of leadership in policing nationally, but also receive bespoke feedback on how they are performing individually”, with this forming part of their development plan, attests the College’s CEO (E8 p.3-4). In recognition of the importance and impact of the research on wellbeing, on 29 October 2019, Professor Les Graham was appointed by the HMICFRS to the PEEL Legitimacy External Reference Group (E9) to advise on the content of future inspections of forces and hence contribute further to policy at a national level within policing. He has also been appointed to lead the National Policing Wellbeing Research Project, a three-year research project to assess the wellbeing of all officers and staff nationally within the UK to guide future policy (E1).

Of further note is the comment by the Chief Constable of British Transport Police that: “. ..the research studies completed by Durham are contributing to changing the face of policing” (E1 p.70) . This impact was formally recognised by Chief Constable Jo Farrell (Durham Constabulary) who awarded Professor Les Graham a Chief Constable’s Commendation in July 2019, for the excellence of the policing research program in terms of both its depth and reach, and the impact it has made at both a local and national level (E1 p.14 and E10).

Given that the long-run stagnation in the United Kingdom’s productivity is of key concern to monetary policymakers, in September 2018, R2 was presented to members of the Bank’s Monetary Policy Committee (MPC) at a One Bank Research Awayday. Considering the model’s ability to analyse the impact of changes in barriers to trade on productivity and the wider economy, it was identified at the Bank as clearly suited for an analysis of the impact of the United Kingdom’s withdrawal from the EU. The theoretical model in R3 has also been calibrated and applied to examine the effects of changes in tariff and non-tariff barriers to trade associated to the United Kingdom’s withdrawal from the EU across a range of possible post-Brexit trade scenarios of interest to the Bank or the purpose of understanding monetary policy. Chris Young, the Head of the Structural Economics Division at the Bank of England said : “the results of this work were presented to the Monetary Policy Committee directly, providing them with helpful guidance in understanding the consequences of the United Kingdom’s withdrawal from the European Union.” [E1]

On 27 June 2018, the House of Commons Treasury Committee requested that the Bank of England publish their analysis of how leaving the EU would affect its ability to deliver its objectives for monetary and financial stability “in good time before Parliament comes to make its key decisions” [E2]. In response to this request, on 28 November 2018, the Bank published their analysis of the EU withdrawal scenarios and monetary and financial stability [E3]. The Bank’s analysis report drew heavily on the model in R3, as one of a suite of macroeconomic models used to analyse and inform the Bank on the effects of various No-Deal scenarios on the United Kingdom’s GDP, in their modelling of EU withdrawal scenarios. Up to this point, internal models and other non-Bank research were only able to offer a view on the long-run impact of various scenarios for the United Kingdom’s withdrawal from the EU on the United Kingdom’s economy, but not on the short-run. Because Nicolae and Nower’s model could analyse the short-run effects, it gave policymakers a better view as to the likely path of the economy in the months following Brexit, specifically predicting the potential for decrease of 7.75% in GDP in the event of a Disorderly exit, seen in Chart A: GDP in EU withdrawal scenarios on page 7 of the Bank’s report (Chart A was also included in the Bank’s two-page report summary, under the heading ‘Modelled scenarios based on different assumptions about Brexit’, reproduced above) [E3].

Young, said : R3 “[...] suggested the key insight that withdrawing from the European Union with no deal would result in an immediate, sharp drop in GDP relative to its previous trend. Further, their research suggested that the initial sizable fall in the level of GDP would be larger than the long-run fall, such that GDP would remain below its new equilibrium for several years. Both these predictions were incorporated into the Bank’s analysis” [E1] . Chart A was subsequently reproduced widely in the national (and international) press. The publication of the Bank’s analysis and especially that part based on the underpinning research in R3 changed the tone of the debate in Britain.

The Bank’s report received a substantial amount of public and media interest at the time, with coverage including the BBC, ITV, The Guardian, Sky News and The Telegraph [E4]. Many media organisations made particular reference to the potential short-run impact of the worst case, No-Deal Brexit. Sky News wrote on 28 November: “ The Bank of England says that a disorderly Brexit could push the UK towards the biggest slump in modern memory. *It says that a disorderly Brexit, involving no new trade deals, severe disruption at borders and uncertain economic conditions, could lead to the British economy shrinking by nearly 8% - more than the effect of the financial crisis.*” [E4] As Young said: “ the research undertaken at Durham has allowed us to gain new insights into the impact of changes in international trade on productivity, especially in relation to the dynamics, and has benefitted monetary policymakers by offering a view as to the likely path of the UK economy in the months following EU withdrawal”. [E1]

The ongoing collaboration of Nicolae and Nower with Millard at the Bank of England on evaluating the effects of various possible trade scenarios/agreements following the United Kingdom’s exit from the EU on key areas of the United Kingdom’s economy (such as labour productivity and GDP) based on R3, led to work which contributed to the ' Trade and Productivity' internal Bank project, as it “ provides unique insights into the dynamic short-run path of the UK economy after withdrawal”, “the results of which were presented to the Monetary Policy Committee”, and which, as Dr Longoni who led the project stated: “ has benefitted monetary policymakers by offering a view as to the likely path of the UK economy in the months following Brexit.” [E1]

In addition to its impact on monetary policymaking, the Bank’s report, and its unique insight into the short run behaviour of GDP, was also used by MPs as part of their deliberations over the United Kingdom’s leaving the EU with No Deal, which they subsequently voted against when voting in the House of Commons. The House of Commons Hansard shows that of the 24 MPs who made direct reference to the Bank’s analysis in their speeches during various parliamentary debates taking place between the date of the publication of the Bank’s report (28 November 2018) and the 27 March 2019 indicative vote on No Deal, 20 of them (83.3%) voted against No Deal, 2 voted for, and 2 abstained [E9(a)]. Furthermore, of the 29 MPs who made reference to the Bank’s analysis between its publication and the “Benn Bill” vote on 4 September 2019, 25 of them (86.2%) voted against a No Deal exit. Additionally, all 13 MPs who made direct reference to the dramatic short-run drop in GDP following a No-Deal Brexit then went on to vote against a No-Deal Brexit, in favour of the “Benn Bill”. Among them, John McDonnell, Shadow Chancellor of the Exchequer, said in his speech: "The Bank of England said that it [No-Deal Brexit] could cause more economic damage than the financial crisis of 10 years ago [...]", while Mr Philip Hammond, former Chancellor of the Exchequer, stated, referring to the analysis of the short-term GDP, that No-Deal Brexit “could cause a recession, with GDP reduced by up to 7.75% and unemployment rising to 7.5%.” [E9(b)]

In addition to this, in response to the 2017 International Trade Select Committee inquiry into UK Trade options post 2019, the model developed in R2 was calibrated with the three countries in the model being the United Kingdom, the EU and the Rest of the World and applied to study various trade scenarios. The results presented by the Durham team in a written evidence submission [E5(a)] showed that the decision as to which future trade scenario is preferred for the United Kingdom would depend on the relative weightings of the Government’s priorities: higher prioritisation of increasing employment would make trading under WTO rules preferable, while greater priority for increasing productivity would make EEA membership preferable. This advice was picked up directly within the committee’s final report to government, which stated: “ Dr Anamaria Nicolae and Michael Nower, of Durham University, noted that the value of the unilateral free trade model depended on what one valued in the economy: [I]t would be desirable for the UK to adopt a unilateral free-trade, low tariff or uniform-tariff approach if […] [the Government] are prioritizing maximising UK productivity growth, consumption, or wages, and minimising UK price growth. However, if the UK government is prioritizing maximizing the number of firms (and hence employment), then adopting such an approach would not be desirable.’ [E6, pg.45]. Subsequently, the same advice was incorporated verbatim by the Scottish Parliament Information Centre (SPICe) in its ‘UK trade policy and Brexit’ briefing (March 2018) [E7, pg.44].

Nicolae and Nower submitted further evidence to the 2018 International Trade Committee’s inquiry into Continuing application of EU trade agreements after Brexit [E5(b)]. While almost all contributions to this inquiry suggested that the Government’s policy objective should be that of seeking continuity on EU’s FTAs and any of the other trade related treaties to which the EU is a party, Nicolae and Nower’s submission was the only one able to quantify the short and long term effect on GDP from not grandfathering any of the EU’s FTAs and any of the other trade related treaties to which the EU is a party. Applying the model from R3, they calculated and showed how much grandfathering would contribute to minimizing reduction in the United Kingdom’s GDP post Brexit. Again, the advice was incorporated into the committee’s final report to government. “ Dr Anamaria Nicolae and Michael Nower, of Durham University Business School, calculated that “[n]ot grandfathering any of the EU’s FTAs and any of the other trade related treaties to which the EU is a party, will reduce GDP long term by 1.1% and short term by 2.7%”. [E6, pg.89]

Following written evidence submitted to the International Trade Select Committee Trade and the Commonwealth: Australia and New Zealand inquiry [E5(c)], Nicolae and Nower were invited to give oral evidence, presented by Nower on 9 January 2019. Drawing on calculations based on the model in R3, Nower advised the committee about the potential impact of future free trade agreements between the United Kingdom and Australia and New Zealand on the United Kingdom’s economy, as well as the impact of future trade arrangements between the United Kingdom and EU on the ability of the United Kingdom to strike free trade agreements with non-EU countries, and the desirability of the United Kingdom seeking membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. [E8]

Through ongoing engagement with former local MEP Jude Kirton-Darling, Durham’s research further contributed to the debate on the consequences of No-Deal on the economy and to informing the general public. Following a meeting with Kirton-Darling on 14 June 2019, in which a study based on R3, on the consequences of No-Deal Brexit, was presented, the online publication northeastlabour.eu wrote: “The outcome of the study has prompted North East Labour MEP Jude Kirton-Darling to warn Conservative Party leadership contenders against the damage a No-Deal Brexit can cause: “ This is further proof that a no-deal Brexit should not be on the negotiating table as an option, or anywhere near it. With damning evidence against it piling on, I find it shocking that no-deal is still featuring so prominently in the Brexit discourse.” [E10(a)]

In July 2017, Nicolae began discussions with regional strategic bodies and business groups, to support them in their campaigns with local businesses, to both inform, and ensure necessary changes needed are made in preparation for Brexit. A Policy Note [E10(b)] written by applying R3 to five possible post-Brexit trade scenarios, brought awareness on the effects of possible future trade scenarios on key macroeconomics variables to North East business, as it was circulated to the North East England Chamber of Commerce (NEECC) International Trade Committee. The Policy Note is also hosted on the NEECC online ‘ Brexit Knowledge Hub’ in ‘ Preparing for Brexit’, with accompanying Potential Brexit Impact on the UK Economy: FAQs answered by the Durham team, offering regional business accessible information regarding the implications of different trade scenarios to help them prepare for Brexit [E10(c)]. Nicolae and Nower also took part in NEECC’s ‘Preparing for Brexit’ series of events for regional stakeholders, covering the economic implications of No-Deal Brexit [E10(d)]. Jack Simpson, Policy Adviser at NEECC said: “These activities, while providing us with a better understanding of the effect of Brexit on the economy, have been useful in informing our members and make them aware of the business implications of various Brexit scenarios, No-Deal especially, in order to encourage them to carry out the necessary planning and preparation to place their businesses in the best position to succeed after UK’s exit from the EU.” [E10(e)]

The impact described is strongly economic, with DUBS research having a direct effect on productivity and performance improvements in NG Bailey and its supply chain [E1]. It has also influenced regional economic strategy development in the North East of England [E2].

The main impact of this research derives from the development of the BMA toolkit and the associated methodology which was adopted by NG Bailey as part of a supply chain re-engineering initiative, ‘Customer of Choice’. This toolkit was adopted by more than 300 of NG Bailey’s suppliers. The entire ‘Customer of Choice’ project team at NG Bailey has been trained in the developed BMA toolkit and associated methodology. Professor Fernandes was invited by NG Bailey’s Group Head of Supply Chains & Strategic Projects to join a Foresight Group tasked with the role of overseeing the use of this toolkit.

NG Bailey collected data from the 300-plus participating companies in March 2017 and December 2018 to measure the direct impact of the initiative. The companies reported a cumulative increase in profitability of GBP800million [E1] and a reduction in product development lead times of more than 40%.

Wider dissemination of this research has taken place via the Confederation of British Industry (CBI) global flagship Business Voice programme through its The innovation game podcast, the North East LEP (NELEP) [E2], TIGA – the Independent Game Developers’ (trade) Association [E3] and a Durham University Massive Open Online Course (MOOC) on Open Innovation [E6].

This toolkit and the BMA methodology formed the basis of re-engineering NG Bailey’s supply chain, which has over 2,000 suppliers. A key benefit for NG Bailey has been the ability to benchmark, re-engineer and improve its supply chain network. As a result of this research, NG Bailey undertook a comprehensive overhaul of its supply chain (called Customer of Choice). Professor Fernandes, via several workshops, trained the entire Customer of Choice project team (approximately 10 within the United Kingdom, including the Group Head of Supply Chain & Strategic Projects) at NG Bailey to use the BMA framework and the toolkit. The re-engineering initiative has resulted in NG Bailey making a step change in several of its core supply chain and procurement activities (supplier engagement, vendor management, procurement, outsourcing and tendering), as a result of this research.

A quote from the Group Head of Supply Chain states that this research “allowed us to re-engineer the entire supply chain of the company [NG Bailey]. The impact of this activity has been extensive. The company was able to make several changes to our core value activities through the use of the developed toolkit… This research from Durham has helped NG Bailey become a more innovative and customer-focused company”. The Group Head of Supply Chain further states that “this research has helped us win several industry awards including: Specialist Contractor of the Year and BIM Initiative of the Year at the Building Industry Awards” [E1].

Implementation of this research, as part of the Customer of Choice project, allowed NG Bailey to benchmark core processes like tendering, product development, supplier engagement, vendor management and partnership in more than 300 participating engineering supplier companies in the United Kingdom. The supplier companies were provided with their individual benchmarked details as well as support via the trained NG Bailey Customer of Choice project team (CCPT). The CCPT helped participating companies understand and optimise critical project decision points in order to avoid costly core supply chain delays.

For example, inappropriate component selection in early-stage product development may only become apparent as scaled trials are undertaken. The CCPT had regular contact with the 300-plus participating companies over 20 months (starting from early 2017). An end of project survey, conducted and administered by the CCPT, has reported a reduction in product lead times of 40% and new income generation over GBP800million within the participating companies. According to the company’s Group Supply Chain Head, he “ *was able to use this toolkit to benchmark over 300 companies…provide them with strategies to bring about a step change in their decision-making activities – by influencing their business models.*” [E1]

Engagement with umbrella organisations to maximise the reach of this research forms part of DUBS’ impact strategy and the research team has worked with CBI, NELEP and TIGA to reach a wider range of businesses. Professor Fernandes leads the NELEP’s Innovation Observatory [E7], which is tasked with assisting the NELEP Innovation Board to develop innovative strategies to support ‘more and better jobs’ through the development and commercialisation of new products, processes, applications and business models. This research has informed the Strategic Economic Plan (SEP 2017- 2021) for the North East [E7]. In the letter from Alan Welby, the Innovation Director for the NELEP, he states that this research (Fernandes’) “shows the opportunities and threats to the region’s companies from a rapidly developing, increasingly tech-focused dynamic world marketplace” [E2]. Lessons and best practice from this research were adopted by CBI and widely disseminated to its members via their global flagship Business Voice programme, The innovation game (a podcast available to over 190,000 CBI members) [E5]. This research was also featured in Durham’s MOOC on Open Innovation, which has over 7000 global participants enrolled [E6]. The toolkit and the methodology were also presented at several industrial workshops to leading biologics manufacturing companies and were adopted by companies like **[REDACTED]**to benchmark and analyse their business models [E4]. TIGA, which has also adopted this research, has widely disseminated the toolkit to help its members optimise their value chains, with a number of events and symposiums, including at TEDx York on 16 November 2018. Dr Richard Wilson OBE, CEO of the Games Industry Association TIGA, in his testimony states that “this research, via a series of practical toolkit (sic), introduces the notion that technical teams and organisations can derive competitive advantage not only through superior technologies but also through the ability to navigate the complex business and technological terrain using unique combinations of BMA” [E3].

Overall, the impact consists of improvements in the performance of several UK manufacturers through more effective management of supply chain relationships for understanding customer needs, developing new products and improving decision making. Reach and significance of the impact was achieved by engaging with two groups of companies. The first (project 1), includes a high number of manufacturers that received detailed research-led guidance on improving their supply chain integration practices. It includes the manufacturers that participated in the Institute of Mechanical Engineers’ (IMechE) Manufacturing Excellence (‘MX’) awards (project 1). The second (projects 2 and 3) includes two organisations with whom the research team engaged closely to significantly improve the processes used to manage their supply chain relationships (PWS Distributors (2018 GBP63million turnover) – see E3 & E9; and PSP Architectural (2018 GBP9million turnover & 100 staff)) (E8).

The ‘MX’ award scheme has served as the basis for increasing the reach of the impact by guiding the change of processes and thus improving the business performance of about twenty UK manufacturers per year (E1). MX’s aims have been to: i) recognise the best manufacturing practices in the UK; and, ii) improve participants’ business performance by providing detailed world leading and research-led recommendations for process improvement. Prof. Tsinopoulos has been a key member of the award design team (2000-11) and then member of the executive committee (2011-16) of the awards. He was in charge for the provision of feedback (benchmarking) to the participating organisations up to 2016.

This has been an iterative engagement during which: i) Tsinopoulos has used the data submitted by organisations to generate research (R6); and ii) the participating organisations used the feedback to improve how they manage their processes. It is here that we have seen ‘ the positive impact which this programme has had on the UK manufacturing companies who have participated’ (E1).

The feedback (benchmarking) reports, that all manufacturers received, built on the Durham team’s research and explained what they each needed to do to improve their supply chain relationships so as to enhance their business performance (i.e. R3 & R6). For instance, when a manufacturer reported weak integration practices, the report would provide detailed guidance on how to improve them, e.g. by classifying suppliers so as to streamline information sharing and improve decision making (R6). Such guidance was based on the second stream of work. Similarly, when a manufacturer reported weaknesses in the generation of ideas, for NPD, the report would provide detailed guidance on how to engage with suppliers and/or lead users to develop product solutions which are technically feasible and marketable. Such guidance was based on the first stream of work.

Manufacturers have used this research-led guidance to improve the integration with their suppliers on the most appropriate dimensions (E1). For example, ZF Lemforder Ltd (2018 turnover: USD296million (12-2018, E2)), who improved their competitiveness by achieving ‘standardisation between our assembly lines, departments and processes’, both internally and externally (E4). These improved practices have had ‘a direct influence on our quality, cost and delivery’ (E4). Since 2017, ZF have worked with a key customer organisation to ‘design the assembly for ease of manufacturer and reduce the risk of mis-builds’ (E4). Similarly, AGFA Graphics, who participated multiple times, (2018 turnover: USD89million (12-2018, E2)) have provided clear indications of where the feedback has been used to reduce ‘ cost and quality risks’ from holding ‘ excess material’ between sites (E5). This includes the development of process improvements across the supply chain which led to the survival of a plant: ‘ without MX participation, the Leeds factory would probably have been closed down’ (E5).

During this Knowledge Transfer Partnership (KTP), PSP, a Shildon-based manufacturer of rain-screen systems and metal fabrications, was provided with ‘ the knowledge and expertise that PSP lacks’ (E6) to integrate its marketing and supply chain and improve how managers make decisions.

The company worked with Profs Ellis and Tsinopoulos to significantly change its processes to better configure its supply chain partnerships (R4). This entailed better appreciating where and how value is created across the supply chain (E6 & E7). This understanding was based on findings reported in R2, R4, R5 & R6. As a result, the company has been able to identify better product opportunities in its trading relationships and added-value services (R5). This has promoted a more partnership-based approach to the management of its supply chain, thereby managing its integration efforts more effectively. Resulting strategies acknowledged the significance of customers, competitors and other stakeholders. Indeed, PSP states that ‘ the biggest impact was on the structure within the company and how we communicate internally and externally’ (E8).

Prof Ellis and the KTP Associate conducted extensive qualitative research (underpinned by the methods in R4 & 5) into managerial perceptions within the construction industry network (E7). Based on these studies, PSP set up and implemented processes and systems for customer acquisition and the subsequent management of relationships with the key network actors that contribute to value creation within the sector. This enhanced approach to managing its B2B relationship portfolio included the appointment of new senior personnel with ‘significant experience with project work and a greater understanding of site construction’. The company states that this has ‘improved both the communication and project control within the business resulting in orders being received regularly from much larger clients’ (E8). PSP has also set up a design operation to add value to customers, thus ensuring that the external identity of ‘solutions’ supplier that it was projecting to the marketplace was mirrored by internal practices. By thereby offering a service that many competitors do not, ‘ this assists significantly in securing projects’ (E8).

As a result of using improved knowledge of changing customer needs, the transformation in the company’s network positioning, marketing orientation and supporting operations has manifested itself in an increased level of enquiries from potential clients. This has enabled PSP to select higher margin opportunities from a more comprehensive relationship portfolio; opportunities it was better able to serve thanks to closer relations with suppliers. The impact on the company was extensive: sales have increased such that turnover in the year 2017-18 was GBP9million, from GBP7million in 2014-15, and staff headcount increased from 66 to over 100 (E7 & E8).

PWS in Newton Aycliffe is a supplier of kitchen components and work surfaces. Contrary to PSP above, PWS’s products are relatively high volume and standardised, a configuration which dictates a different way of integrating with customers and suppliers. Facilitated by matched funding from the ESRC’s IAA, Prof Tsinopoulos was able to guide the firm in significantly changing its integration practices and in developing and implementing a strategy for business growth. The project applied the findings of his research on supply chain configurations and customer identification (R1 & R6) to develop and implement a methodology of proactive information provision and data analysis for the firm. It encouraged the development of a culture of data-driven decision making which considered modes of supply chain integration on one hand and the way marketing decisions were made on the other, thereby maximising customer value. As the firm puts it, ‘ This was achieved by implementing product and customer segmentation within a business intelligence (BI) system, as identified by a program of engagement with stakeholders’ (E9).

They add, ‘ The project achieved success in allowing individuals to validate their intuitions as a data-driven assessment via the BI system’ (E9), for example in comparing the cost/benefit of a new carrier’s better delivery rate in relation to warehouse work rate and different packing methods. Service improvements were also noted, for instance ‘by adopting a rigorous customer segmentation approach within the warehousing section, customers can receive a service offering which is appropriate for their customer type and position within the supply chain’ (E9). This included alternative delivery methods and the need for goods to be labelled and consigned individually, ‘ including their end consumers’ preferences’ (E9). Moreover, the effects of service changes are more apparent with the improved processes and systems, so that ‘ when moving a customer onto a premium service method, the effects upon credits can be seen sharply from that point onwards’ (E9). PWS believe that the impacts of implementing research findings were seen amongst stakeholders throughout the supply chain (as suggested by R2, R4 & R5), for instance in: ‘helping suppliers to optimise their production’; ‘helping increase customer value by enabling carriers to achieve a reduced damages rate’; ‘helping warehousing to function more efficiently’ by examining failure data; and ‘helping customers to increase the value of their business by reducing their failure rates’ (E9).

This research has impacted on businesses, asset owners, an asset manager and policymakers, and been disseminated through pro bono work with standard/framework setting bodies. For example, Adams has served as Chair of the Stakeholder Council of the Global Reporting Initiative, is on the Technical Working Group of the Climate Disclosure Standards Board (CDSB), the Sustainability Panel of ICAS, the ACCA’s Global Sustainability Forum (198,000 members and 486,000 students in 180 countries), has collaborated with the IIRC and is now part of the UNDP’s SDG Impact Team.

The FRC is the UK’s regulator for the accounting profession and sets the corporate governance and stewardship codes. In recent years the FRC has broadened its consultation to consider the need for companies to take explicit account of sustainable development issues. Thus, R1 and R3 underpin submissions to FRC consultations on draft amendments to Guidance on the Strategic Report: non-financial reporting, and Draft Revised Corporate Governance Code and on the current Stewardship Code, and on the Draft Revised Stewardship Code; subsequently, the FRC’s Feedback Statement (July 2018) on responses to the UK Corporate Governance Code [E2] specifically recognised the importance of considering risks and opportunities arising from climate change and other sustainable development issues, and the need to recognise the importance of stakeholders in creating value for shareholders. Paul Druckman, a former member of the FRC Board, testifies: “Your submission to the FRC on the revision to the corporate governance code last year was significant. Your narrative explained in very simple and yet insightful terms exactly why a broader understanding of the role of corporate governance and the responsibility of Boards was essential. I personally used some of your arguments within my direct contributions within the FRC at the Codes & Standards Committee and then at the FRC Board. The outcome of the revised code especially in principle 1A is pretty much as you devised...real impact on UK plc.” [E1]. Principle 1A is consistent with the finding of R1 that where Boards are involved through reporting frameworks that takes a broader view of value aligned with contributing to society they make better decisions. Principle 1A states: “ A successful company is led by an effective and entrepreneurial board, whose role is to promote the long-term sustainable success of the company, generating value for shareholders and contributing to wider society.” [E1]. It is applicable to all UK companies with a premium listing. Moreover, Adams’ research was also utilised and cited by the CDSB and IIRC in their responses to the FRC [E2]; CDSB recommended that board skills’ matrices include expertise in climate change and wider sustainability issues (citing R1), and that an investor’s role in building a company's long-term success could be further encouraged through the stewardship code by encouraging engagement with companies on their approach to addressing sustainability issues and contribution to the SDGs (citing R3); IIRC said that “Every business should understand and actively play their role in achieving the SDGs….The FRC should therefore be encouraging this by providing support and signposting businesses towards practical tools and resources such as the IIRC’s ‘The Sustainable Development Goals, integrated thinking and the integrated report’ [R3] so that businesses have the ability to actively contribute to the SDGs” [E2].

Written and verbal evidence submitted by Adams in 2018 to the Australian Senate Inquiry on the SDGs, and evidence submitted by the Chartered Accountants of Australia and New Zealand (CA ANZ) and the Responsible Investment Association of Australasia (RIAA), suggest the use of R3’s 5-step approach. Adams’ verbal and written evidence was quoted 10 times in the Senate Committee’s report to the Australian Government and, although out of the scope of the initial consultation questions, the report included a recommendation (no. 17) that comes specifically from the 5-step model “that the Australian Government…assess opportunities to encourage… impact investment and business practices that support the Sustainable Development Goals.” [E3]

Adams served on the Better Reporting Working Group (BRWG) of the UK Government’s Implementation Taskforce on ‘Growing a culture of social impact reporting in the UK’, commissioned by the then Prime Minister in March 2018. The first BRWG report [E4] to Government names Adams as both a BRWG member and one of a smaller number of “key representatives [who] were interviewed as an input to the exercise…chosen on the basis of their influence and use of impact report (sic) related to investments”. The report cites R1 and uses several of Adams’ research-based assertions as headlines about the need for mandated/regulatory interventions, including: “It is urgent. Companies will respond as soon as it [reporting on impact on sustainable development] is mandatory and enforced and some will not respond before then”. The Taskforce’s final report (July 2019) [E4] cites R1 and names Adams as a member of the Phase 1 Working Group and one of five project advisers for Phase 2. The impact of Adams’ work is demonstrated by the Taskforce’s recommendations to Government, one of which (the 25^th) is as follows: “Government and Financial Reporting Council – Explore sustainability and SDG reporting: The Department for Business, Energy and Industrial Strategy should explore, with the FRC, how best to encourage UK business to increase transparency on the contribution business makes towards the achievement of the UN SDGs. Separately, in regard to the FRC consultation on corporate strategic reports, the FRC should explore ways in which material information, useful to wider stakeholders, can be reported in the context of the UN SDGs.” The impact of Adams’ research (R1, R3) on this recommendation and the FRC’s Corporate Governance and Stewardship Codes (cf. above) is confirmed by Olivia Dickson, Taskforce Steering Committee member and FRC Board member [E4]. Dickson also notes “One of the conclusions of the Landscape report [E4] , influenced by Carol’s research was that coalescence in environmental and social reporting would be accelerated if it was anchored in the SDGs. Carol’s research had shown how this might be approached in practice” and “Carol’s evidence…led the group to identify ‘legal and regulatory measures’ as one of seven key drivers”.

Impact on the recommendations of UK Parliament’s Environmental Audit Committee

Adams’ submission concerning the urgency of mandatory reporting on social issues to a House of Commons consultation, was referenced (para. 78) in the Environmental Audit Committee’s ‘ Greening Finance: embedding sustainability in financial decision making’ (2018) [E5].

The SDG Disclosure (SDGD) Recommendations and UNDP SDG Impact Standards

The research in R1 and R3, and a consultation process with high profile global respondents (including 3 of the ‘Big Four’ accounting firms) led to the development of the Sustainable Development Goal Disclosure (SDGD) Recommendations, published in January 2020. This led to substantial business/accounting press coverage (including an article by Adams in the Financial Times), Adams’ contributing to a BEIS study on Frameworks for standards for non-financial reporting, and her appointment to the UNDP’s SDG Impact Team, contributing to their SDG Impact Standards [E6]. Organisations will be able to gain certification against these new UNDP standards. The UNDP Impact Standards for Enterprises (first public consultation draft, October 2020) require organisations to use Adams’ SDGD Recommendations in order to demonstrate transparency, while Adams has also contributed to the other Standards, for Private Equity (now finalised) and SDG Bonds. The IFRS (International Financial Reporting Standards Foundation) have referenced the Recommendations’ approach to determining material matters in their recent Consultation Paper on Sustainability Reporting, with consultation respondents from HSBC Bank Pension Trust and the Johannesburg Stock Exchange both also recommending the use of Adams’ work to inform the IFRS’ approach to Sustainability Reporting.

Adams has worked with Advance HE on their ‘Integrated Thinking – Let’s Talk Value’ project; she has “met with key stakeholders to give feedback to help institutions move towards integrated reporting”, sat on its Steering Group, facilitated at a 2018 workshop, produced R4 and contributed to a further conference in 2020. Following this, Advance HE highlighted Adams’ SDGD Recommendations in their post-conference update, and announced that their next Let’s Talk Value collaborative programme will focus on this area, “ Putting the strategy into sustainability and sustainability into the strategy” [E7]. Adams has worked with Durham’s University Secretary, Jennifer Sewell, and in February 2019 gave a presentation to the University Executive Committee on how to define value creation, linking it to the SDGs, integrated thinking, what it means for the University strategy and changes that could come about from preparing an integrated report. Sewell noted Adams’ “ contribution to the production of the value creation diagram for the 2019 Report”, and in the 2020 Annual Report DU announced they had “established an SDG group” with their approach “ guided by the Sustainable Development Goals Disclosure Recommendations, lead author (our own) Professor Carol Adams” [E7].

Adams has acted as an adviser to Cbus Superannuation Fund, which manages AUD34billion for 732,000 members (as of 30 June 2016). From 2015 to 2020, Adams advised on their development of integrated reporting. Referring to Cbus’s 2016 Annual Integrated Report, which is informed by Adams’ work (R1-R3), Cbus’ CEO states: “The report… provides an easy reference point and explanation of the organisation’s rationale and strategy, assisting employees to understand what they are contributing to and creating a cultural focus for them. This alignment has contributed to productivity and performance dividends which is demonstrated by the continued organic growth in the fund as measured by increasing member numbers in a contracting market; […] increased funds under management; [… ] and improved employee engagement scores” [E8]. After initial work with Cbus in 2015, in 2016, Adams “had a much bigger involvement in the report development… significant input into our value creation statement, identification of key activities which create value and lead to outputs and outcomes”, incorporating the SDGs and linking Cbus’ strategy development with the Integrated Reporting framework. Consequently, Cbus won best corporate reporting award for their Annual Integrated Report in both 2016 and 2017 at the Australian Institute of Superannuation Trustees Awards for Excellence. In June 2018, the Cbus Annual Integrated Report 2017, which explicitly used the 5-step approach in R3, was also one of 12 reports awarded/commended out of 2,500 researched by Responsible Investor [E8]. Cbus’ success has undoubtedly influenced other investors and reporters to adopt integrated reporting approaches which consider sustainable development issues: Cbus CEO David Atkin has spoken to the IIRC’s Business Network about the approach, and attributes their being invited to make presentations to a range of Australian pension funds, and advocate integrated reporting in other organisations, to their work with Professor Adams (Cbus CEO, E8). Multiple award-winning Keith Ambachtsheer (KPA Advisory Services) was invited by the IIRC to speak on the importance of integrated reporting by pension funds, using the Cbus example to encourage asset owners to adopt integrated reporting. Using R3’s approach, Adams assisted global asset manager Baillie Gifford (approximately GBP80billion under management) in developing an approach to reporting on the social impact of their Positive Change Fund. The resulting Impact Report [E9], included the (positive and negative) impact of companies in the fund on the SDGs, and cites Adams as a core collaborator.

Adams has worked on an Issues Note by the UNCTAD Secretariat for discussions of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR, the UN’s focal point on accounting and corporate governance matters) 32^nd session (November 2015), and a research paper on the ‘2030 Agenda’ used by UNCTAD to advance its agenda on companies reporting on sustainability and SDG implementation issues. Adams was awarded an UNCTAD-ISAR honours award in 2018 [E10] for R3. The Awards are made for impact on enhancing the quality and comparability of companies’ reporting on sustainability issues and on the 2030 Agenda for Sustainable Development and SDGs.

R3, which draws on R1 and R2, has been utilised by accounting bodies advising organisations on their reporting: (i) the report by ACCA on ‘The Sustainable Development Goals: redefining context, risk and opportunity’ incorporates Adams’ five-step approach; (ii) the KPMG Global report 2018 entitled ‘How to report on the SDGs: What good looks like and why it matters’ acknowledges internal KPMG insight and only 2 external sources, one of which is R3, to identify nine criteria for quality reporting on the SDGs; and (iii) R3 is the focus of KPMG’s 6-page Accounting and Auditing update issue 19/2018. David Nussbaum, Chief Executive of The Elders, an independent group of global leaders who work together for peace and human rights, founded by Nelson Mandela and chaired in the past by the late Kofi Annan, drew attention to R3 in delivering the ICAS Annual Lecture 2017. The CEO of ICAS said “ the report [R3] was instrumental in the establishment of the Scottish SDG Reporting Working Group, a collaboration between ICAS, SEPA (the Scottish Environmental Protection Agency), Standard Aberdeen Investments Limited and Diageo” [E10]. A diagram developed by Adams (p 14, R3) has been reproduced (for example, by PWC) and adapted versions have appeared in multiple corporate reports (for example by Unilever, the Dutch bank Van Lonschot Kempen, DSM, and Sanford). Eumedion’s letter to Dutch listed companies recommended using R3 [E10]. Reference to R3 was also made in a paper considered by the International Accounting Standards Board [E10].