As the saying goes, “measure twice, cut once” — it’s advisable to conduct a thorough assessment before making a decision. Similarly, measuring business progress is crucial in making informed decisions, demonstrating value, and maximising results. For those focused on sustainable development, having a tool to evaluate a business’s social programs can be a game-changer.

Here are some big questions worth tackling:

Are our projects achieving their intended objectives?

Are we receiving optimal value for our investments?

In which areas are our projects excelling, and where might they require additional attention?

What is our strategic roadmap for the future?

Beneficiaries of Evaluation

Through evaluation, companies gain access to pertinent data, offering insights into their impact on local communities, employees, and other stakeholders. This enables proactive management of social risks and preemptive measures against potential conflicts.

Moreover, evaluation data is a foundation for timely reporting to management and investors. According to the GIIN 2022 report, the impact investing market has reached a significant milestone of USD 1.164 trillion in assets under management (AUM) despite being a maturing and growing industry. The report published by Cambridge Associates in 2022 highlights that more than 40% of the institutions surveyed are planning to adopt sustainable investing within two years.

Approaching social impact assessment in the corporate sector can vary. Given the myriad methodologies, approaches, and metrics available, experimentation is key. Finding methods aligned with the company’s objectives and utilising the derived data as a tool for corporate management is crucial.

Fanda stands ready to delve into the intricacies of various methodologies and indicators and develop an approach tailored to your spectrum of programs and projects.

Discover more about social impact assessment at Fanda’s free webinar

Event date: 13th May, 2024
11 am (GMT+4)

Join the webinar

What we will discuss:

Who needs social impact measurement and why;

How to measure social impact.

Our experts will also discuss social impact measurement cases from the industry and show Fanda’s latest assessments.

Social impact assessment: a quick outlook