GENEVA, Switzerland — Companies concerned about their social and environmental impacts have a new tool for measuring and monitoring their activities.
The World Business Council for Sustainable Development (WBCSD) has released its new
Measuring Impact Framework, a guide for how to look at and assess impacts. The group worked its framework into an Excel-based guide, giving companies an outline for identifying, measuring and monitoring impacts.
The Framework includes four broad steps: Set boundaries, measure direct and indirect impacts, assess contributions to development and prioritize responses.
The guide takes users through each step in detail, helping them think about all parts of society they impact, make plans, provide rationalizations for actions and consider stakeholder opinions.
The WBCSD developed the Framework over the past two years with the help of more then 25 companies. It was designed for any company in any industry to use at any stage in their business operations.
The Framework includes an analysis of why companies should measure and understand how they impact societies and how they can benefit from that knowledge. Anticipating societal changes, finding new business opportunities, improving relationships with communities and managing risks are just some of the benefits outlined by the WBCSD.
