How do you prove your business is socially and environmentally responsible?

2 Choose your impact indicators

The next step is to choose your impact indicators, which are the metrics that help you measure and monitor your impact goals. For example, if your goal is to reduce carbon emissions, you might use indicators such as the amount of CO2 saved, the number of green products sold, or the percentage of renewable energy used. You can use existing frameworks and standards, such as the Global Reporting Initiative (GRI), the Impact Management Project (IMP), or the B Impact Assessment (BIA), to help you select and define your impact indicators.

3 Collect and analyze your impact data

Once you have your impact indicators, you need to collect and analyze your impact data. This means gathering information and evidence from various sources, such as surveys, interviews, reports, or sensors, to quantify and qualify your impact. You also need to apply methods and tools, such as logic models, impact maps, or statistical analysis, to process and interpret your data. You should aim to collect and analyze your impact data regularly and consistently, to ensure its validity and reliability.

4 Report and communicate your impact results

The final step is to report and communicate your impact results, which means sharing your findings and stories with your stakeholders and potential investors. You can use different formats and channels, such as reports, dashboards, websites, social media, or events, to convey your impact results. You should also follow some principles and guidelines, such as the International Integrated Reporting Framework (IIRF), the Social Return on Investment (SROI), or the Global Impact Investing Network (GIIN), to ensure your impact reporting and communication is transparent, credible, and engaging.

By following these steps, you can prove your business is socially and environmentally responsible, and demonstrate your value proposition and competitive advantage. You can also attract more customers, employees, partners, and investors who share your vision and values, and who want to support your impact journey.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?