What is impact reporting and why is it important?

What is impact reporting and why is it important?

Impact reporting is the process of measuring and communicating the effects of an organization's activities. It's important because it helps stakeholders understand the value created and informs decision-making.

Who are the key stakeholders involved in impact reporting?

Key stakeholders include investors, customers, employees, and the community. They all have an interest in understanding the impact of the organization's actions.

What are some common metrics used in impact reporting?

Common metrics include social return on investment (SROI), environmental impact assessments, and community engagement levels.

How can organizations improve their impact reporting?

Organizations can improve their impact reporting by setting clear goals, using standardized metrics, and regularly engaging with stakeholders for feedback.

Can you give examples of organizations that excel in impact reporting?

Sure! Organizations like Patagonia and TOMS are known for their strong impact reporting practices, showcasing their social and environmental contributions.