The Measuring Impact Framework is designed to help companies understand their contribution to development and use this understanding to inform their operational and long-term investment decisions and have more informed conversations with stakeholders.
In the spring of 2006, the WBCSD embarked on a two-year journey to develop a framework to assess the contribution of business to the economic and broader development goals in the societies where that business operates.
This grew out of a request by WBCSD member companies to develop a measurement framework that could underpin the license to operate, improve the quality of stakeholder engagement, help manage risks more effectively and identify ways to enhance the business contribution to society.
The companies requested a clear and practical measurement methodology that could be adapted to different business sectors, be used by operations anywhere in the world and be tracked over time. Unlike environmental impact assessments (EIAs) or environmental, social and health impact assessments (ESHIAs) that are normally carried out as part of due diligence to determine future potential impacts arising from a greenfield or brownfield business investment, they wanted to be able to measure actual impacts at any stage in the life cycle of an operation.
The Framework’s output is not designed to be rolled up for corporate reporting purposes. However, companies may choose to communicate results to external audiences and use the assessment to improve the quality of their reporting.