Accounting For Good by Magpie Comms

Accounting for Good Measuring your socio-economic footprint

Accounting for Good: Measuring your socio-economic footprint | ÂŠ Good Relations Group Page

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ÂŠ Good Relations Group | Accounting for Good: Measuring your socio-economic footprint

Contents Foreword by Kevin Murray.................................................................................................................2 Executive summary................................................................................................................................3 Introduction...............................................................................................................................................4 The impact knowledge gap...............................................................................................................5 The benefits of better measurement............................................................................................6 Closing the gap â&#x20AC;&#x201C; measuring your impact.................................................................................7 The six steps for successful impact measurement................................................................8 Learning from others...........................................................................................................................10 Conclusion................................................................................................................................................. 12

Accounting for Good: Measuring your socio-economic footprint | ÂŠ Good Relations Group Page

Foreword

by Kevin Murray

Accounting for Good There is a simple truth which we in business need more widely to embrace. No business can thrive in a bankrupt society. Businesses cannot be sustainable unless they’re creating environments in which everybody can thrive. That’s why at the Good Relations Group we no longer just talk about sustainability; instead we talk about ‘thrive-ability’. Companies have spent much time and effort changing the way they do business in order to be more socially aware, more environmentally responsible and ethically accountable. Few, however, have learned to engage constructively on these issues with all of their stakeholders. This, in part, is because to report back on success requires metrics that few businesses have attempted to measure before. So imagine for a moment if businesses did begin to measure the wider impact that they have on society; imagine the power of an irrefutable database, properly audited and regularly checked. Imagine how this could be used to not only have better conversations with stakeholders but also make more informed business decisions. Impact studies demonstrate the total contribution to society that a business makes and how it is helping to create an environment of thrive-ability. But they also serve as a valuable business tool, helping to highlight new risks and opportunities as well as how a company can enhance the positive impact it has. There’s a shift that is happening now; leaders are becoming aware that they face much higher expectations from all of the stakeholders that are connected to their organisation. It’s a shift caused by attitudes that are undergoing dramatic change as we become a more connected and transparent society. Even those leaders that don’t believe this shift is occurring will eventually find that they have no choice. Until they can quantify the good that they deliver, they’re never going to be able to argue their case for anything else that they see as an essential factor in their growth story. The facts that can be gleaned from our socio-economic impact studies should be weaved into every story you tell about your organisation. They help form the narrative of your business. They can also be a motivator; an impact study used well stimulates pride in the organisation; a pride that accelerates your employees’ greater willingness to do good. They form the basis of a virtuous circle of mutual gain, shared value and more supportive relationships – a platform for success.

Kevin Murray Chairman Good Relations Group

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Executive summary Trust in business has been eroded in recent years. One major problem facing ‘big business’ is the inability to articulate in a convincing manner the beneficial role companies play in their wider contribution to society. While businesses can have huge positive economic, social and environmental impacts – from creating jobs and supporting suppliers to developing new technologies and preserving ecosystems – these are not always well understood by stakeholders. Companies have been slow to respond to this disconnect because they do not have a good understanding of their impact.

Companies that are measuring their impact are better equipped to manage relationships with stakeholders, minimise risks and maximise opportunities. In this paper we take the reader through the essential steps required to address the key issues in assessing and reporting on the broader role of business. The starting point is to understand the benefits from better impact measurement. Companies that are measuring their impact are better equipped to manage relationships with stakeholders, minimise risks and maximise opportunities.

However, there is no universally accepted way to measure impact and it can be a difficult landscape to navigate. We go on to summarise some of the key impact measurement frameworks and tools that companies may want to refer to. These include the WBCSD Measuring Impact Framework, GRI G4 Sustainability Reporting Guidelines, LBG and Oxfam’s Poverty Footprint amongst others. We then draw on our extensive experience of helping companies measure their impact and set out a six step model that will help companies undertaking an impact assessment for the first time. These are described in more detail within this paper: 1. Map your impacts 2. Understand your audiences 3. Use data effectively 4. Engage with stakeholders affected by your business 5. Use outputs to support the business 6. Drive on-going performance improvement The paper concludes with some case study examples to demonstrate the wide range in the type and complexity of approaches – ranging from Land Securities’ impact assessment of a new shopping development in a city centre; through to Unilever’s work to understand its impact in Indonesia. As these examples illustrate, leading companies are successfully demonstrating in a variety of compelling and innovative ways the positive role they play in society. The lesson to be learned is that with a robust approach to impact measurement and communication, it is possible to rebuild trust through an informed dialogue with stakeholders on the real purpose of business.

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Introduction Trust in business is at its lowest in years. Scandals over working conditions, from textile workers in Bangladesh to fast food employees in the US, have dented confidence in businesses’ social contribution. Environmental issues, such as BP’s oil spill in the Gulf of Mexico, deforestation in Indonesia and fracking in the UK, have raised questions over businesses’ ability to operate sustainably. And controversies over tax involving companies such as Google and Amazon have raised the pressure on businesses to demonstrate their economic contribution.

Triple G is a new rating system that measures three important elements that help companies build trust and reputation In a recent survey conducted by Edelman only 17% of the “informed” public said that they trusted business a great deal, while the general public were even more sceptical. Meanwhile, just 26% of people said that they trust business leaders to solve social or societal issues, and only 18% trust businesses to tell the truth.1 Triple G research The Good Relations Group recently carried out its own research to measure how brands rate in this current climate of eroded trust. Triple G is a new rating system that measures three important elements that help companies build trust and reputation - what they do (good actions), what they say (good engagement) and what others say about them (good recommendations).

Developing & communicating good actions

Accelerating good recommendations

Are you seen as a brand that does the right thing, even when nobody is looking?

How likely are your customers to recommend your brand?

Driving good engagement How well do you engage your audiences?

INDUSTRY

AVE NO. OF Gs

Supermarkets

2.3

FMCG

1.8

Other retail

Travel & Leisure

1.5

Telecoms & Tech

0.7

Financial Services

0.5

Of the 100 brands rated, only 20 achieved a top ranking across all three criteria.2 The research reveals the gap between consumer expectations and company performance, but it also highlights a lack of understanding about brands’ wider socio-economic impacts. Consumer-facing companies with well-known sustainability initiatives, such as Marks & Spencer, Unilever, and Sainsbury’s, rank highly on “good actions”. However, companies whose impacts are less immediately visible, or which have been hit by scandals in the past, tend to be ranked poorly for both actions and engagement.

Edelman Trust Barometer (2013)

http://www.goodrelationsgroup.com/the-good-relations-group-launches-the-triple-g-rating/

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Triple G

Rebuilding trust There is a perceived disconnect between business and society. While businesses have a huge range of positive economic, social and environmental impacts – from creating jobs and supporting suppliers to developing new technologies and preserving ecosystems – these are not always well understood by stakeholders. In one telling survey, only 25% of global respondents said that businesses made a significant positive impact on social and environmental issues.3 How can companies start to rebuild trust? Firstly, trust is built on actions. Companies that are acting responsibly and helping to solve

the big challenges facing society today are leading the way. Secondly, trust is built on open and effective engagement. Therefore those companies that present their contribution in an open and credible way, allowing them to respond honestly and constructively to society’s concerns, are starting to win back trust. This is not to say that impact measurement is the answer to everything. Public scepticism will not disappear overnight. But by understanding their impacts and acting to improve them, businesses can begin to demonstrate the value they bring, helping to rebuild trust and bridge the gap between business and society.

The impact knowledge gap Demonstrating impact is a challenge for many companies. Even where they know that they make valuable socio-economic contributions, they may be unable to quantify and communicate these contributions, leaving consumers, governments and NGOs with only one side of the story. Companies have been slow to respond to this disconnect because they do not have a good understanding of their impacts. In the absence of hard facts and figures, efforts to demonstrate impacts can backfire. For

example, when Google’s tax arrangements were criticised in 2013 by UK politicians, its response – that it has a positive impact on the wider British economy and society – was condemned as “insubstantial”.4 Closing the impact knowledge gap, on the part of both companies and stakeholders, is not easy. Companies must develop a far better knowledge of their wider impacts, and communicate this openly to stakeholders. The first step is effective measurement.

Cone/Echo Global CR Opportunity Study (2011)

http://www.independent.co.uk/news/uk/home-news/we-pay-6m-tax-on-26bn-uk-profits-but-thats-ok-because-we-help-startups-

google-boss-eric-schmidt-under-fire-over-comments-on-corporate-tax-8582605.html Accounting for Good: Measuring your socio-economic footprint | © Good Relations Group Page

The benefits of better measurement Businesses are operating in a faster, tougher environment. A licence to operate is harder to win and easier to lose. Companies that are measuring their impact are better equipped to manage relationships with stakeholders, minimise risks and maximise opportunities.

Strengthen stakeholder relationships • Create platforms to have strategic dialogue with stakeholders such as government, communities and NGOs • Provide data to develop more informed and engaging communications What are our stakeholders concerned about? Do we have the information to respond to them? How can we work in collaboration with others to maximise our impact?

Reduce risks

Identify business opportunities

• Identify current and future risks in the value chain • Maintain licence to operate

• Help inform new product, service and market development • Discover opportunities to strengthen the value chain

Can we improve productivity by supporting our suppliers more effectively? Are there practices that could come under scrutiny from external stakeholders?

Why measure Impact?

Can we sell a new product/service to a ‘base of the pyramid’ customer base? Can we improve our supply chain resilience by working better with local suppliers?

Strengthen stakeholder relationships Governments, NGOs and other stakeholders have their own agendas and are looking to companies to play a role in meeting these. How can companies respond credibly to the questions being asked of them?

you to understand your current customer base and identify new products or distribution channels to serve them more effectively. It will demonstrate the extent to which you are sourcing locally and the impact in your communities from doing this.

Measuring your impact provides information to engage with stakeholders proactively. It helps you understand the contribution you are making and where you could do more, potentially in collaboration with partners.

Reduce risks There is now greater scrutiny of a company’s own social, ethical and environmental practices as well as those of its suppliers. How can a company identify where its practices may fall below best practice and take action before it comes under the spotlight?

Identify business opportunities Many companies are increasingly focusing their business in developing and emerging economies. But what are the opportunities to reach lower-income customer segments in these markets? What are the benefits from sourcing locally? An impact assessment will provide a full assessment of your value chain – it can help

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An impact assessment will look at your performance across areas that are important to the business and stakeholders, for example paying a living wage, human rights or environmental best practices. The results will highlight where you are performing well but importantly where there are risks from underperformance.

Closing the gap: measuring your impact Companies looking for a single universally accepted way to measure their impact will be disappointed. There are a plethora of frameworks and tools for impact measurement and it can be a difficult landscape to navigate.

GRI G4 Sustainability Reporting Guidelines: The Global Reporting Initiative (GRI)’s G4 guidelines set out disclosures for corporate reporting on economic, environmental and social performance and impacts. These include metrics for direct and indirect economic impacts; environmental impacts (including impacts in the value chain); labour practices and human rights (including in the supply chain); and wider societal impacts. The focus is on reporting, so little guidance is provided on how data should be collected and impacts calculated. WBCSD Measuring Impact Framework: The World Business Council for Sustainable Development (WBCSD)’s framework provides companies with a process for measuring and managing their impacts. The framework was developed in 2006-08 in collaboration with WBCSD member companies. It sets out key direct and indirect impacts which companies should aim to measure, in areas including jobs, taxes, infrastructure and environmental management. It also provides example impact metrics and recommendations on stakeholder engagement. UNEP Towards Triple Impact Toolbox: The United Nations Environmental Programme (UNEP)’s Toolbox for Analysing Sustainable Ventures in Developing Countries provides a framework for assessing the impact of business ventures in developing countries on poverty alleviation and environmental sustainability. It aims to take a “systemic perspective”, by looking at social, environmental and economic factors, life cycle impacts and relationships with stakeholders. It provides guidance for identifying opportunities and defining success in the project planning phases, and assessing costs and benefits through mapping, measuring and comparing impacts. Oxfam Poverty Footprint: Oxfam’s Poverty Footprint is a methodology for measuring a large company’s socio-economic impacts in developing countries, which was adapted from the assessment carried out by Oxfam and Unilever Indonesia in 2005. It takes a “people-centric” approach to impact measurement,

Some of the frameworks that exist are summarised below. These can be a useful reference point to guide your approach but, as with all reporting, it is important to bear in mind materiality – what is really important to your business and its stakeholders.

with a focus on the factors that are important for poverty alleviation, including standard of living; health and wellbeing; diversity and gender equality; empowerment; and stability and security. The framework encompasses local livelihood impacts, value chain impacts and total economic contributions. Oxfam has worked with a number of companies to apply the methodology, including Coca-Cola and SABMiller. Impact Reporting & Investment Standards (IRIS): IRIS consists of a catalogue of performance metrics used by impact investors for investments in businesses and funds that generate measurable social and environmental impacts alongside financial returns. It includes metrics across a range of cross-sector themes such as beneficiaries (suppliers, distributors); employment; environmental performance and financial performance as well as sector-specific impact metrics. IRIS is overseen by the Global Impact Investing Network (GINN). LBG: LBG is an internationally recognised standard for measuring corporate community investment. It is used by more than 300 companies around the world to measure, manage and report the value, and the achievements, of the contributions they make. The LBG model enables companies to measure their overall contribution to the community, taking account of cash, time and in-kind donations, as well as management costs. The model also records the outputs and longer-term community and business impacts of corporate community investment projects. Base of the Pyramid Impact Assessment Framework: The Base of the Pyramid framework was developed by the William Davidson Institute (WDI) at the University of Michigan. The framework focuses on the poverty alleviation impacts of a business venture, capturing measures of well-being in three areas (economic, capabilities and relationships) for customers, local distributors and surrounding communities. The framework guides the identification of metrics, the generation of surveys, the collection of data and interpretation of the results.

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The six steps for successful impact measurement Through our extensive experience of helping companies measure their impact, we have identified six key steps to consider when undertaking an impact assessment for the first time:

Map your impacts As a first step, companies should map the total impacts arising from their operations. A useful way of thinking about this is through the lenses of direct, indirect and wider impacts as outlined in Figure 1.

Understand your audiences In the real world it is not possible to measure everything. Understanding your audiences and the key questions they would like answered helps to set the right scope for the impact assessment. For example, a national government will be interested in the value added to an economy, total job creation and taxes paid. A local community will be more interested in how the company supports local employment and local businesses.

Mapping all three areas as well as looking across economic, social and environmental dimensions will give a picture of the total impact of the company.

Figure 1: Measuring socioeconomic impacts ICON PIC

WIDER Economic, social and environmental impacts e.g. impact of employee and supplier spending, impact of products and services, community investment and environmental impacts

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INDIRECT Impacts through the value chain e.g. supplier and distributor incomes and job creation

DIRECT Impacts of the companyâ&#x20AC;&#x2122;s own operations e.g. value added, jobs, investment, taxes, procurement spend

ÂŠ Good Relations Group | Accounting for Good: Measuring your socio-economic footprint

A campaigning NGO will be concerned with employees in the supply chain being paid a living wage. Directly engaging with both friendly and critical audiences will help you to prioritise the key impact indicators you need to measure and produce a more valuable analysis.

Use data effectively Collecting data can be time consuming and resource intensive. It is therefore important to leverage existing data where this is available and target areas for primary research. Data to measure direct impacts, for example in the areas of jobs, investment and procurement spend should be relatively easy to access through business functions such as finance and human resources. When it comes to estimating indirect and wider impacts, these areas can be more complex to assign precise values, although techniques do exist. For example, wider job and income generation within the value chain can be estimated using job multipliers5 which may already be available through national or industry data. Alternatively, it may be possible to directly survey a sample of your suppliers to understand how and the number of jobs your business helps to support. While accuracy is important, it is acceptable to use some level of approximation as long as these are based on realistic assumptions.

Engage with stakeholders affected by your business There is no doubt that the right data points can be incredibly effective in demonstrating the difference your business makes. Directly engaging with people participating within your value chain can provide deeper insight into the current impact of your business

as well as opportunities to enhance this impact. Consider interviewing suppliers, employees and contractors as part of your impact assessment to really understand the difference that your business makes to an individual’s livelihood. This will give additional depth to the analysis, provide material for evidence-based case studies and importantly bring to life the company’s impact in a personal and engaging way.

Use outputs to support the business The outputs of an impact assessment can have multiple uses. The assessment will unearth hard facts and figures to demonstrate the difference your business makes. It will provide collateral to engage constructively with important stakeholders such as governments, regulators, campaigning organisations, the media and the public. Alongside the reputational advantages, an impact assessment is a useful management tool, highlighting risks in the value chain as well opportunities to enhance a company’s positive impact and reduce potential negative impacts.

Drive on-going performance improvement Impact measurement should not be a one-off process. The real value is in developing a wider impact framework which will help your business to measure and enhance its impact over a period of time. Many companies are able to apply the learning from conducting their first impact assessment to develop a framework or toolkit that identifies a core set of impact indicators to be applied to other parts of the business or different markets.

Ratio of total number of jobs in the economy that is supported for each direct job within the company

Learning from others Many companies are already measuring and reporting on their socio-economic impacts. The type and complexity of reporting varies significantly from including basic economic indicators such as a value-added statement in sustainability reports through to stand-alone detailed impact studies.

Reporting on direct financial impacts – Centrica’s Value Added Statement By publishing an economic value added statement for the financial year, Centrica, the British multinational utility company, demonstrates the direct impact it has through its operations. The value added statement gives a simple presentation of how the money from its business activities flows to its various stakeholders. It details a range of financial data: these include the amounts received from customers through to remuneration paid to employees and payments to suppliers for goods and services purchased. In 2012, Centrica calculated its total cash value added at £5,469 million: 32% of this was spent on employee remuneration, 12% on tax revenues, 14% to shareholders and 4% on community investment.

Mapping your footprint in a particular country – Unilever in Indonesia Unilever conducted a detailed assessment of the impact of its business in Indonesia. The report was carried out in 2005 in partnership with Oxfam and aimed to help the wider business community, civil society, governments and academia truly understand the relationship between a multinational corporation and poverty in one country. The assessment mapped Unilever’s impact across its complete value chain – the chain that links raw material providers and other suppliers to the manufacturing of products, then through product distribution and retail outlets to the consumer. The report revealed that

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from 1999-2003, 25% of pre-tax profits ($182 million) were reinvested in the local business, that 30% of pre-tax profits went to the Indonesian government in tax payments and that Unilever Indonesia employs around 5,000 people either permanently or on contracts. Indirectly, the full-time equivalent of about 300,000 people make their livelihoods from Unilever Indonesia’s value chain. More than half of this employment is found in distribution and retailing, among an estimated 1.8 million small stores and street vendors.

Assessing the local impact of a new investment – Land Securities new development in Leeds Trinity Leeds is a one million square foot shopping and leisure development in Leeds city centre, which opened in March 2013. Land Securities, the developer of Trinity Leeds, wanted to gain a greater understanding of its local and national impact through the construction of the new shopping centre. The assessment focused on local job creation and local suppliers. Key findings included that Land Securities directly provided 622 (32-month equivalent) construction jobs and a further 1,144 jobs were supported indirectly in the wider economy. 55% of the construction workforce were local and they received £20.6 million in wages. The assessment also found over 180 young people benefitted from work-based training and apprenticeships and that the estimated gross impact to the UK economy from construction was £740 million.

Measuring the impact of a flagship community programme - Aviva’s LifeStraw project Aviva’s LifeStraw project combines carbon offsetting with providing rural Kenyan families with gravity-fed water filters: this gives beneficiaries access to safe water without the need to burn wood to either boil it or treat it to make it safe. The project has been carried out over the past two years in conjunction with Aviva’s carbon offset provider ClimateCare. Aviva used the LBG framework to measure the impact of their carbon offset programmes both globally and on the Kenyan communities in which they work. The project has reached 40,000 families (approximately 200,000 people) and delivered more than 200 million litres of safe drinking water, saving the burning of 50,000 tonnes of wood, equivalent to 108,000 tonnes of CO2 emissions. Through monitoring the families involved, Aviva has also measured the health impact delivered through the project – 88% of families reported health benefits in areas such as (de)hydration and diarrhoea.

Moving towards total impact reporting – The Crown Estate The Crown Estate, the UK statutory corporation that runs the property portfolio owned by the Crown, carried out an assessment of its total contribution to the UK in 2012. This meant going beyond looking at the direct profit that goes to the Treasury (£311 million) to include a range of economic, environmental and social measures. The assessment measured The Crown Estate’s direct contributions, indirect contributions through their supply chain and the contributions it has enabled through the activities carried out on its portfolio. The report revealed that The Crown Estate’s gross value added contribution to the UK economy to be at £5,233 million and 94,000 jobs were supported through their activities.

8,900 people had been involved in Crown Estate-organised educational activities and, through low carbon energy production and their forestry sequestering emissions, it had achieved a net positive carbon footprint through averting four million tonnes CO2 emissions.

Developing an impact toolkit – Anglo American’s Socio-Economic Assessment Toolbox Anglo American’s Socio-Economic Assessment Toolbox (SEAT) provides a framework and tools for the management of social performance during the development, operation and closure of projects. This toolkit not only measures the impacts of projects but helps the organisation to share and develop best practice. Each of Anglo-American’s operations runs a SEAT assessment every three years. The assessment is identified as an essential element for the organisation to achieve its social license to operate. There are seven key steps to implementing SEAT in its operations: 1) Profile the Anglo American operation and the host community 2) Engage with stakeholders 3) Assess and prioritise impacts and issues 4) Improve social performance management – how it interacts with its stakeholders 5) Deliver enhanced socio-economic benefits to host communities 6) Develop a social management plan 7) Prepare a SEAT report and feedback to stakeholders. The use of SEAT has resulted in a wide range of socio-economic initiatives in education, training, health and local enterprise development.

Conclusion It is clear that there has never been a more important time for companies to start rebuilding trust with their stakeholders. Recent research carried out by The Good Relations Group, found only 20 brands out of 100 achieved a top rating across its new ‘Triple G’ reputation rating which measures three essential elements of trust - what companies do (good actions), what they say (good engagement) and what others say about them (good recommendations). Many companies have made considerable progress in building more inclusive and sustainable businesses, but they are still struggling to engage society on the value they bring.

Impact measurement is a valuable tool in bridging this gap. It enables a company to have the data to understand its current impact across key social, economic and environmental areas and identify where it could be doing more in the future. But it is only the first step in a wider process. The real opportunities arise from how the data from impact measurement is used. Companies should use findings to engage with external stakeholders such as governments, NGOs and consumers in a more proactive way and also to inform decisions about the business, for example identifying supply chain risks or develooing new products and markets.

About Good Relations Group The Good Relations Group is a fully integrated brand communications and CSR consultancy serving more than 300 clients in the UK and internationally. We are part of Chime Communications PLC, an international communications and sports marketing group. Good Relations Group companies work for a

portfolio of corporate brands that includes Airbus, BSkyB, Unilever, HP, Fujitsu, G4S, Subway, Gazprom, BlackBerry, EADS, Talk Talk and Comparethemarket.com, among many others. We have more than 240 people in nine companies with offices across the UK as well as in Germany, Singapore and the USA.

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DISCLAIMER:Every possible effort has been made to ensure that the information contained in this publication is accurate at the time of going to press, and the publishers and author cannot accept responsibility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editor, the publisher or author.

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About the authors Mitun Majumdar Mitun is an Associate Director and leads Corporate Citizenship’s impact assessment work. She has helped clients such as Land Securities, Fujitsu, G4S, GoAhead Group and Imperial Tobacco to identify, quantify and communicate the socio-economic impacts of their operations. Prior to Corporate Citizenship, Mitun worked as an in-house CR advisor for BDO, the financial services company. Mitun is an economist and chartered accountant by training and started her career at HM-Treasury.

Charlie Ashford Charlie is a senior researcher at Corporate Citizenship. He has worked on economic impact studies for UK and international clients including EADS, Land Securities and Fujitsu and has worked extensively on LBG, the framework for measuring corporate community investment which is managed by Corporate Citizenship. Charlie has a degree in economics from the University of Cambridge, where he specialised in environmental economics and emerging markets.

About Corporate Citizenship Corporate Citizenship is a global corporate responsibility consultancy that uses clear insight and a pragmatic approach to sustainability to deliver growth and long-term value for business and society. We work globally across industry sectors. Our work takes us to Europe, USA, Asia, Africa and Latin America. We help our clients make the smart choices that will enable them to survive and thrive in an increasingly challenging business environment. Corporate Citizenship promotes the idea that companies can be a force for good. We advise a global client list on a number of areas: strategy, reporting, supply chain, socio-economic impact, inclusive business models and assurance.

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For further information about the report and our services, please contact: Mitun Majumdar mitun.majumdar@corporate-citizenship.com

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