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Social Impact Assessment (SIA) for Hong Kong
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Prepared by: Alvin Cheung, Senior Researcher Natalie Lau, Assistant Researcher
Relationship between SIA and CSV
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Photo Source: Catalyst.org, Inc. and Bupa
Youcan’tmanagewhatyoudon’tmeasure.
PETER DRUCKERFather of ModernManagement
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W e n e e d m o r ecompanies to measureandvaluetheirimpactsand dependencies onnatural capital, andcollaborate to reducethem.
PAUL POLMANCEO, Unilever
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M y c o l l e a g u e s a n d Iunderstood that ongoingevalua=on and measurementwould ul=mately prove thati n v e s tmen t i n s o c i e t a lcondi=onsmateriallyenhancesacompany’scompe==veness
Janet VoûteChairman of Creating Shared Value Council, Nestle
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-HuffingtonPost-FSG
Relationship between SIA and CSV
1. Initial Idea of business strategy
2. Use SIA to appraise the idea
3. Implementation 4. Use SIA to monitor the process
5. Adjustment of the existing strategy
3 Source: HM Treasury
Importance of Social Impact Assessment
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Government
Corporates
Nonprofits/Social
Enterprises
By incorporating SIA into public policies, our government can: • Help examine the cost of dealing with potential social problems, and; • Allow greater transparency of public policies
By measuring the tangible benefits, SIA can help nonprofits/social enterprises to: • Provide proofs to stakeholders e.g. government and investors regarding their
impacts on society
By combining the values generated to both the company and the community, SIA can help corporates to: • Develop profitable business strategies with social benefits • Achieve both ‘Corporate Social Responsibility’ and ‘Creating Shared Value’
Common Frameworks Available in HK
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SIA Framework of The Hong Kong Council of Social Service
Social Impact Measurement of Fullness Social Enterprises Society
Social Enterprise Endorsement Scheme
B Impact Assessment
Social Return on Investment
Total Impact Measurement and Management of PwC
True Value Model of KPMG
BACK Model of The Hong Kong Jockey Club
BACK Model of The Hong Kong Jockey Club
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Knowledge
Condi,onSa,sfac,on
Social Impact Measurement of Fullness Social Enterprise Society (FSES)
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ChangeofA+tudeand
Skills
Sa4sfac4ononAc4vi4es
ChangeofBehavior
InvestmentReturnandResults
KirkpatrickModelofTrainingEvalua4on
Social Enterprise Endorsement Scheme (SEE Mark)
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Incuba4ng Start-up/SmallScale
Intermediate Advanced
Social Return on Investment (SROI)
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Be transparent
Only include what is material
Do not over-claim
UnderstandWhat
Changes
InvolveStakehold-
ers
Value the things that
matter
Verify the results
TheSevenPrinciplesofSocialValue
Total Impact Measurement and Management of PwC
10 Op4on1:ImportBarley Op4on2:Growandsourcelocally
True Value Model of KPMG
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EconomicRevenue/Cost
SocialRevenue/Cost
EnvironmentalRevenue/Cost
TrueEarnings
SIA Framework of HKCSS
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Individual
Project/Organiza,on
Social/Community
• SocialPar,cipa,on• SocialCapacityBuilding
andEmpowerment
• QualityofLife• SelfEsteem
• Sustainability• SkillsEnhancement
Comparison of Frameworks
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Comparison of Frameworks
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A1
A2
B1
B2
B3
MappingOutcomesandUnderstandingChangePre-determinedKPIV.S.EncouragingTailorAssessment
AscertainingtheRela4veImportanceofOutcomesBenchmarkingwithscoringsystemV.S.Par,alMone,za,onV.S.FullMone,za,on
StakeholderEngagementExplicitlyRequiredV.S.NotExplicitlyRequired,butEncouraged
BenchmarkingandDoNotOver-claimExplicitlyMen,onedV.S.NotExplicitlyMen,oned
MaterialityReflectedintheScopeV.S.GuidelineProvided