Proxy selection criteria and disclosure requirements
| Criterion | Definition | Illustrative disclosure statement | Risk mitigated |
|---|---|---|---|
| Material connection | Plausible linkage between the proxy and the promoter's documented activities | Explain the project pathway from promoter activity to the observed transaction | Spurious attribution |
| Traceability | Proxy derived from externally verifiable sources (e.g. audited financial statements) | Identify the counterparty document, accounting note and recognition basis used for the proxy | Unverifiable metrics; symbolic disclosure |
| Boundary specification | Explicit scope of what is included and excluded (time, actors, outcome layers) | State boundary choices (first-order transaction only; no downstream spillovers) | Ambiguous scope; comparability issues |
| Separability and non-duplication | Proxy avoids counting the same outcome multiple times across capitals or stakeholders | Provide a reconciliation note and describe how overlap is prevented | Double counting; inflated outcomes |
| Conservatism | Proxy limited to observable transaction values; avoid speculative forecasts | Exclude projections and clarify that the proxy is a partial indicator | Overstatement of value |
| Criterion | Definition | Illustrative disclosure statement | Risk mitigated |
|---|---|---|---|
| Material connection | Plausible linkage between the proxy and the promoter's documented activities | Explain the project pathway from promoter activity to the observed transaction | Spurious attribution |
| Traceability | Proxy derived from externally verifiable sources (e.g. audited financial statements) | Identify the counterparty document, accounting note and recognition basis used for the proxy | Unverifiable metrics; symbolic disclosure |
| Boundary specification | Explicit scope of what is included and excluded (time, actors, outcome layers) | State boundary choices (first-order transaction only; no downstream spillovers) | Ambiguous scope; comparability issues |
| Separability and non-duplication | Proxy avoids counting the same outcome multiple times across capitals or stakeholders | Provide a reconciliation note and describe how overlap is prevented | Double counting; inflated outcomes |
| Conservatism | Proxy limited to observable transaction values; avoid speculative forecasts | Exclude projections and clarify that the proxy is a partial indicator | Overstatement of value |
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