Join the global collaboration community of 30,035 professionals from business, government and civil society working together on the world’s most pressing challenges.
Measuring Impact in 2013
When leaders from government, business, international organizations and NGOs met in Rio de Janeiro, Brazil in June 2012 they spoke about how these players can come together to meet the challenges associated with an increase in the global population and a decline in available resources. Following Rio+20, many believed that business should lead the drive toward sustainability and that we cannot succeed in the transition to a more sustainable future without business as a committed partner and solution provider.
As we move forward into 2013, we can expect this emphasis on the role of the private sector in driving the international sustainability agenda to increase. 2013 will likely show a shift from high-level, abstract goals to more concrete, scalable actions and measurable, deliverable results embedded in business activities.
It is difficult, however, to scale up sustainable solutions without first developing a strong understanding of the impacts a business has on its surroundings. While significant attention has been paid to the importance of a company’s influence on the environment, we must also focus our attention on the influence of business on socioeconomic development.
Businesses wield the ability to improve opportunities for and capabilities of people in developing countries. These people are employees, customers, suppliers, distributors, retailers, neighbors, and citizens of countries that are increasingly important sources of competitive advantage and growth. Companies are becoming increasingly more aware of the need to create socio-economic value for all of these stakeholders in order to protect and increase shareholder value. In order to create value, they must be able to measure it.
There are numerous tools available that strive to measure socio-economic impact. So why do many companies have yet to jump on the bandwagon? Perhaps because many of these tools utilize a “development language” that is not easily adapted to private sector needs. Or it could be a consequence of the complexity of a company’s supply chain or business model. Regardless of the reason, it is apparent that companies need assistance navigating the landscape of socio-economic impact measurement tools.
What kind of assistance is currently out there for companies ready to embark on this journey toward a sustainable future? And what is on the horizon for 2013?
Why not join one of the many open collaboration Challenges we are running to address pressing global issues? Join your peers, share your passion and add your expertise!
Our Challenges are made possible thanks to our Supporters and Partners. If you'd be interested in supporting a current or new Challenge, please get in touch.Learn more