The Impact Management Platform launches new consensus view of the actions and fundamental characteristics of impact management
Recent years have seen accelerated uptake of sustainability-related standards and practices. Enterprises, investors and financial institutions are increasingly paying attention to their sustainability-related risks, and are managing some of their impacts in the process. Despite this, the private sector’s management of impacts on people and the natural environment continues, in most cases, to be done in a narrow and fragmented way, if at all.
Recognising the need for change, the Partners of the Impact Management Platform have advanced their agenda to clarify and build consensus on the practice of impact management. 18 months after agreeing to work together via the Platform, the Partners have released a set of new outputs, including:
- A thought piece clarifying the imperative for impact management and the relationship between impacts, system-wide risk and materiality, arguing that impact management is not only a human and environmental imperative, but is also critical to sustaining economic and financial performance of the market as a whole.
- An iteration of the Actions of impact management, which provide an explanation of the core actions that make up the practice of impact management, as well as its fundamental characteristics.
- An explanation of the key terms and concepts related to impact management, which reflect the Partners’ consensus-building efforts on these definitions.
These materials are the result of a thorough consensus-building effort by the Partners, who anticipate that these outputs will advance the interoperability of their own resources, and further progress the consolidation of a coherent and complete set of resources for practitioners.
On 5th July, Partner representatives will come together to explain why the time for impact management is now, and what they are doing to produce a complete and coherent system of resources for impact management. On the agenda, a rich discussion on the meaning and the imperative for impact management and a call for continued efforts to help mainstream its practice.