Measuring socio-economic impact -- A WBCSD guide for business

Companies are increasingly interested in measuring socio-economic impact as part of maintaining their license to operate, improving the business enabling environment, strengthening their value chains, and fueling product and service innovation.

In February 2013, the WBCSD launched a guide to support companies' efforts in tackling the challenge of measuring their socio-economic impacts.

The guide has been developed to help business perform 3 essential tasks: (i) firstly, to define and articulate the business case for socio-economic impact measurement within their organization; (ii) secondly, to understand the essentials of impact measurement theory and communicate with internal and external stakeholders on the subject, including on the terminology; (iii) and finally, to navigate the landscape of measurement tools, and identify those that best meet companies' needs. The guide profiles 10 existing tools tailored to business needs, dissected on the basis of functionality, fit for purpose, cost and complexity of implementation, and examples of their application in practice.