What is Impact Reporting?
In the beginning…
A few years ago, companies used to always write their annual report. It told us what a company was up to. Yet it was based on the capitalist model of reporting what was going on to your shareholders. Some companies even used it to communicate to their stakeholders.
Fast forward to the climate crisis. B Corp certified organisations started emerging. Blue chip companies started to produce CSR (Corporate Social Reporting) reports and then ESG (Environment, Social and Governance) reports. Impact reports came about. Every B Corp certified company has signed an agreement to produce one each year. And now, most organisations feel compelled to produce one.
How to write an impact report
An impact report is a record of your impact. It can detail your impact on Scopes 1,2 and 3, the UN SDGs (United Nation Sustainable Development Goals) or on the B Impact Assessment or the New Standards. Or, however you decide to measure your organisation’s impact.
It should use the data that you have available. A new impact report helps to chart your progress. Publish the facts, the real impact you have made, particularly with data to back it up. And set goals. Real ones. Ones that you can achieve. Stretch your organisation to reach them, sure, but don’t set unrealistic ones.
Dare to be different
To differentiate your own organisation from its competitors, A well-produced, honest report shows why anyone should choose your brand over anyone else’s. Your own Impact Report can also be used to strengthen employee relationships and to foster a sense of pride as it promotes the goals and celebrates your company’s track record. Creating an Impact Report needs some thought. If you are already taking steps as a business, to reduce your carbon footprint, or are promoting a fairer place to work, then you have something worth saying.
We decided to do an impact report, yet as we embed truth into everything we do, it was better to be named as a Truth Report. We are honest and produce a new one at the start of each calendar year.
Check out our latest Truth Report here:
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Does Authenticity Really Matter?
According to over 36,000 respondents in the 2022 Edelman report: