In business, it is often said that you can’t manage what you don’t measure. This is just as true when it comes to how your business affects society.
Companies are under increasing pressure to show they make a positive contribution to society as well as generate profits for shareholders. Focusing on the financials alone is no longer enough.
In many sectors and markets today, an organization’s positive impact on society can make the difference between winning or losing a contract. So measuring and managing those impacts is simply good business sense.
In recent years, methodologies to measure an organization’s impacts –both positive and negative –have become much more sophisticated.
A growing trend is to express all economic, social and environmental impacts in a common financial metric; doing this can inspire productive conversations in the boardroom and management meetings, and help to change thinking and action within organizations.
The KPMG True Value methodology has been at the forefront of this movement since its launch in 2014. Since then, dozens of organizations around the world have used KPMG True Value to measure their impacts on society and apply that learning to their business.