Post by sweetpea33 on Jan 24, 2024 1:15:51 GMT -5
MBA in Sustainability program with leaders in business, sustainability and social entrepreneurship.The rise of social metrics in ESG reporting For years, companies have struggled to report on their social impact in a financially meaningful way. That's changing. By Aman Singh March 11, 2021 Social metrics Shutterstock Reprinted from GreenFin Weekly, a free weekly newsletter. Subscribe here. For years, companies have focused voluntary social reporting on metrics that are, let’s say, comfortable: government-mandated data, such as occupational health and safety or certain hiring metrics, that has been measured and managed for years.
Add a few more nuanced data points, such as the results of an annual employee engagement survey or number of volunteer hours, and you get a bit more of a company’s approach to internal and Email List community engagement. However, these data points — splintered and unwieldy — rarely have given investors the metrics needed to confidently evaluate risk and impact. Now, as we make our way slowly past the worst of the pandemic and face a consistent and ongoing call to action for racial justice and equity, things finally might be shifting.
For years, companies have struggled to report on their social impact in a financially meaningful way — and taken solace in reporting efforts vs. impact. Along the way, multiple reporting frameworks have helped bring objectivity on some data points, including the Global Reporting Initiative (GRI), the U.N. Guiding Principles on Business and Human Rights and the more recent — and perhaps the most detailed yet in scope — Corporate Human Rights Benchmark.
Add a few more nuanced data points, such as the results of an annual employee engagement survey or number of volunteer hours, and you get a bit more of a company’s approach to internal and Email List community engagement. However, these data points — splintered and unwieldy — rarely have given investors the metrics needed to confidently evaluate risk and impact. Now, as we make our way slowly past the worst of the pandemic and face a consistent and ongoing call to action for racial justice and equity, things finally might be shifting.
For years, companies have struggled to report on their social impact in a financially meaningful way — and taken solace in reporting efforts vs. impact. Along the way, multiple reporting frameworks have helped bring objectivity on some data points, including the Global Reporting Initiative (GRI), the U.N. Guiding Principles on Business and Human Rights and the more recent — and perhaps the most detailed yet in scope — Corporate Human Rights Benchmark.