Reference no: EM133183237

Clifford Industries is a Canadian lumber company. Their low-cost business model has opened doors to international customers. To support this business model, Clifford Industries reduced spending on fire prevention in the areas it logs. Over the past few years, the media has shown how the company's practices contributed to bigger and more intense forest fires, which have negatively impacted local communities. In response, the company engaged with diverse stakeholders to create a fire protection advisory panel and has implemented several recommendations made by the panel. This has increased Clifford Industries' cost but has changed domestic retailers' perception of the company. In fact, domestic retailers that sell construction materials to environmentally conscious consumers now see Clifford Industries as one of the more sustainable lumber companies in Canada. Clifford Industries' marketing department has been tasked with monetizing the value of this intangible asset (sustainable reputation with retailers). Describe an approach that you could use to measure the tangible (financial) value of this intangible asset in accordance with Driving Sustainable Decisions' three-step approach for estimating the financial impact of a sustainability initiative.