Measuring social impact is highly complex, but being able to prove how responsible social initiatives contribute to a business and to national development goals is crucial. Ethical Corporation put together this brief, highlighting how Siemens, Nestle, Unilever, FedEx, WBCSD, and UBS have been able to quantify their social impact.
Although a short brief, it broadly captures how Siemens has not only aligned its business interest with national development goals but also, how the company systematically surveys the priorities of each country of its operation and constantly report on country specific social impact. The company therefore bagged itself the top spot on Corporate Knights’ ranking on most sustainable corporation.
In the same vein, Scott shares insights on how Nestle, Unilever, FedEx, and WBCSD make and measure profits from social purpose. World Business Council for Sustainable Development (WBCSD) has a social capital protocol – a harmonised framework for companies to measure, understand, and value their interactions with society. Unilever on the other hand links its social investments back to its business using a simple four-point framework. Nestle was
one of the first companies to embed the voluntary UN Guiding principles on Business and Human Rights whilst FedEx’s partnerships in solving transport problems and reducing cars on the road means impact for the business.
For a final case study on UBS, Hall extensively captures how the company has made impact through philanthropic services, thereby, revealing how billionaire philanthropists can really make impact.
This is a concise but an all-encompassing brief which extensively touches on social impact, strategic philanthropy, corporate/individual philanthropy, Corporate Social Responsibility, and (High) Impact Investing – all in a 15-page document.
Writer: Mike Scott and Tom Hall
Publisher: Ethical Corporation
Date of Publication: 2017