Impact & Value Assessments
The past decade has seen increasing interest in measuring the social and environmental impact of projects, programs, organisations, businesses, and policies, both internationally and within Australia.
Organisations are now seeking ways in which they can communicate previously non-quantified value to funders and stakeholders - an increasing subject of focus for corporate responsibility, social, sustainability and strategy reporting - that details the impact on stakeholders, identifies ways to improve performance, and enhances the performance of their investments.
The Social Return on Investment (SROI) and the GRI Sustainability Reporting Standards have emerged as approaches to meet these demands.
Accounting for social value and sustainability have a huge potential to help change how we understand the world around us, the effect our organisation provides and to make better decisions about where to invest for the most impact.
We believe that any organisation can start to account for their impact and the value they provide - no matter the size of the organisation or the amount of resources available.
An effective reporting cycle, includes a regular program of data collection, communication, and responses with the benefits of social and sustainability reporting for organisations including:
Increased understanding of risks and opportunities within the organisation and across your supply chain.
Identify, benchmark and prioritise social metrics - allowing you to embed these within your metrics and sustainability strategies.
Emphasizing the link between financial and non-financial performance.
Better understanding of how your programmes work and provide value.
Insights that help management run the business better through improved data collection and reporting systems.
Influencing long term management strategy and policy, and business plans.
Streamlining processes, reducing costs and improving efficiency.
Mitigating – or reversing – negative environmental, social and governance impacts.
Improving reputation and brand loyalty.
Increasing Transparency and Trust amongst stakeholders and community.
Improve the social value and sustainability across your supply chain.
Enabling external stakeholders to understand the organization’s true value, and tangible and intangible assets.
Demonstrating how the organization influences, and is influenced by community expectations, sustainable development and its commitment to a social license to operate.
Social Return on Investment
The Social Return on Investment (SROI) is a globally recognised, principles-based framework managed by Social Values International (SVI) for measuring extra-financial value (i.e., environmental and social value not currently reflected in conventional financial accounting) relative to the resources invested.
As a set of principles it can be used in the boardroom, in selling to customers, or influencing government policy.
Ensuring accountability to those you affect and those on whose behalf you work, undertaking an SROI analysis draws on cost-benefit analysis, sustainability reporting, financial accounting and logic models. SROI is a flexible and integrated approach which starts with no predetermined view of what the outcomes of your work are or of what tools you should use to measure them.
Social Values Impact Assessment
If we define social value as “the quantification of the relative importance that people place on the changes they experience in their lives”, we can evaluate and quantify how an investment into a program or activity imparts quantifiable change.
The more we measure, value and report on this, the better an organisation’s understanding, and the higher the quality of decisions that can be made.
Social value reporting has traditionally been affiliated with care organisations and focussed on understanding the relative importance of changes that someone experiences. Social Value Impact Assessments are a form of reporting that sits at the juncture between many different disciplines: evaluation, accounting, management consulting and investment (both financial and social).
A Social Values Impact Assessment is right for your organisation If you are seeking an analysis and report that tells the story of change and impact.
GRI Sustainability Report
The practice of disclosing sustainability information inspires accountability, helps identify and manage risks, and enables organizations to seize new opportunities. Reporting with the GRI Standards supports companies, public and private, large and small, protect the environment and improve society, while at the same time thriving economically by improving governance and stakeholder relations, enhancing reputations and building trust.
Sustainability reporting can help organizations to measure, understand and communicate their economic, environmental, social and governance performance, and then set goals, and manage change more effectively. A sustainability report is the key platform for communicating sustainability performance and impacts – whether positive or negative. A sustainability report presents the organisation's values and governance model, and demonstrates the link between its strategy and its commitment to a sustainable global economy.
The value of the sustainability reporting process is that it ensures organisations consider their impacts on sustainability issues, and enables them to be transparent about the risks and opportunities they face. This increased transparency leads to better decision making, which helps build and maintain trust in businesses and governments.
The GRI Sustainability Reporting Standards have been developed with true multi-stakeholder contributions and rooted in the public interest.