The Social Capital Protocol is a new initiative which aims to mainstream the measurement of social impacts for business – shifting the improvement of social performance from an optional extra to a core part of business decision making.
People are at the core of business. They are companies’ employees, customers, suppliers, distributors, retailers and neighbors. They determine whether a company has a productive workforce, loyal customers, healthy value chains, vibrant local communities, and supportive governments and stakeholders now and into the future. Their growth and well-being matter to the bottom line.
To do well in today’s world, companies must understand the value they create for their shareholders, for society, and for business beyond financial returns. Companies that truly value people will be more successful.
The Social Capital Protocol serves two purposes:
- It provides a consistent process to guide companies through the journey of measuring, valuing and better managing social capital.
- It provides a framework for collaboration to harmonize the currently fragmented landscape of social impact measurement and valuation, and to move towards standardized approaches for business.
This first version of the Protocol is the result of 2 years of collaborative development involving input from over 50 WBCSD member companies, an Advisory Group of 20 expert partners, and four WBCSD Global Network partners. It includes:
- Step-by-step guidance through 4 Stages
- Best practice recommendations
- Company case studies
- Relevant tools and references
It is also accompanied by the first Sector Guide, The Forest Product Sector Guide to the Social Capital Protocol, developed by the WBCSD Forest Solutions Group.
This first version of the Protocol is just the beginning of the journey. To find out more and to get involved, visit www.social-capital.org