Identify
Understand all impacts potentially associated with the organisation
Description
Identification is the process through which enterprises, investors and financial institutions start to determine which impact topics
Specific issues that are important to the object(s) of impact.Subject of impact
All organisations are likely to have a range of positive and negative impacts
The effect(s) of organisations' actions on people and the natural environment.Impact
Relevant impact topics are determined based on an analysis of the organisation’s groups of affected people (also known as “stakeholders”) and/or components of the natural environment (referred to hereafter as the organisation’s
A term used by the Platform to group enterprises, investors and financial institutions of all types. Source: Impact Management PlatformOrganisation
This process is akin to the materiality assessments conducted in the context of sustainability reporting. Such assessments are conducted with a view to determining which disclosures to include, on the basis of stakeholders’ information needs and interests. However, the identification process is first and foremost part of a management process rather than a communication (or disclosure) process. As a result, it involves a broader, more holistic analysis (covering the organisation’s impact profile and context), as opposed to relying primarily on an (organisation-centric) stakeholder mapping and engagement.
For sustainability focused enterprises, investors and financial institutions’ specific impact topics are established as part of the organisation’s purpose and goals, i.e. before the identification process has taken place. The identification process remains relevant, as it will help ensure that any other sustainability issues associated with its activities are not overlooked (and therefore help to avoid any unintended negative impacts).
Example: An enterprise that produces wind power needs to consider the types of impact it may have on local communities, employees or workers in the value chain, alongside its likely positive impacts in the area of climate change.
Analysis of an organisation’s impact profile
Identification starts with obtaining a high-level understanding of which sustainability topics
A term used broadly to denote aspects of stakeholder well-being (e.g. health, wealth, safety), or business activities or practices that are evidenced drivers of well-being (e.g. employment, diversity and inclusion). This term is synonymous with ‘sustainability matters’, ‘impact areas’, ‘impact categories’ or ‘general issue categories’ which are similar terms used by different standard setters. Source: OECD Well-being Framework; Global Reporting Initiative (GRI) Sustainability Topics; Sustainability Accounting Standards Board (SASB) General Issue Categories; IRIS+ Categories; United Nations Environment Programme Finance Initiative (UNEP FI) Impact Areas A term used by the Platform to group enterprises, investors and financial institutions of all types. Source: Impact Management PlatformSustainability topic
Organisation
An organisation’s economic activities are a major determinant of its impact associations and therefore, its impact profile. Certain economic activities may be particularly associated with specific populations and sustainability topics; conversely, certain population groups and sustainability topics are unlikely be associated with other specific activities.
Example: An enterprise in the water treatment sector is likely to positively impact its customers’ access to sanitation and health, while an enterprise in the oil and gas sector is likely to negatively impact climate stability.
When reviewing their impact associations, enterprises need to consider:
- All of the sectors they are involved in (in the case of large enterprises / multinational companies, there may be more than one); and
- The different components of its value chain. Enterprise impacts may be mostly operational (i.e. linked to its production process), upstream (i.e. linked to its sourcing) or downstream (i.e. linked to its products and services) or a combination. For enterprises with complex supply chains, this involves conducting a mapping of the supply chain; so as to ensure information is collected on impacts potentially associated with suppliers in different parts of the supply chain.
The bulk of investors and financial institutions’ impacts are generated downstream, via their clients and/or investee companies, as opposed to their operations. As such, their impact profile requires an analysis of their portfolio composition.
Analysis of an organisation’s operating context
Aside from their inherent impact profile, organisations also need to understand the context in which they are operating, which means understanding the sustainability needs and priorities of the people (namely the organisation’s potentially affected stakeholders) and the natural environment in the locations they are active in.
Contextual analysis involves:
- a review of the policy and regulatory treatment of sustainability issues, which informs organisations about policy priorities and legal obligations in relation to sustainability issues; and
- a factual and holistic review of the well-being of people and the condition of the natural environment, since not all needs and gaps will necessarily be reflected in policy and regulation.
The latter requires reviewing evidence, data and research, as well as engagement with potentially affected stakeholders to understand their needs and expectations.
Example: A textiles company with part of its production process in Morocco can consider the country’s environmental, developmental and social policies and priorities (e.g. as outlined in a national development plan or an SDG Voluntary National Review (VNR), where it might find a focus on employment, suggesting that jobs may be an area of significant need. In addition, it can consult international statistical databases (e.g. UN SDG or other statistics) to understand the level of need across these topics, enabling it to discover additional information, for instance the specific employment gaps in the country’s youth population. Engagement with local communities might enable a further layer of understanding as regards the specific barriers and challenges for youth employment.
Identifying relevant impact topics
The combined results of the impact profile and contextual analyses enable enterprises, investors and financial institutions to draw preliminary conclusions towards identifying the significant impact topics that need to be acted on, namely by establishing which impact topics are relevant based on the organisation’s characteristics and operating environment.
Relevant impact topics are the topics that an organisation is most closely associated with (hereafter referred to as the topics with which an organisation has strong impact associations) based on the organisation’s characteristics and sector (or those contained in a portfolio), and for which the needs/priorities are high in the organisation’s operating context.
The strength of an organisation’s impact associations are a function of:
- Likelihood: how likely impacts are to materialise based on the type and economic activity of the organisation.
Example: While enterprises in all sectors may negatively impact the health and safety of their works and employees, the likelihood of potential adverse health and safety impacts is higher in some sectors (e.g. mining, agriculture, textiles) than in others (such as education or retail sales).
- Reach: the likely extent of the impacts, for instance the number of individuals likely to be affected, the probable scope of environmental damage.
Example: A multinational consumer goods enterprise with global and complex supply chains can affect the well-being to the numerous people that make up its workforce. Similarly, a global industrial company can potentially affect multiple components of the environment (air, water, land and their accompanying ecosystems) in many different locations.
- Severity: the likely severity or gravity of the impacts, and related to this, the irremediable character – the extent to which associated impacts can or cannot be remediated.
Example: For companies in the food and beverage industry, consumer health is a strong impact association because of the possibility of provoking severe health-related incidents among consumers, potentially leading to irremediable consequences (e.g. as a result of poor sanitation in the production facility). In agriculture and food production, forest clearing may be associated with irremediable damage to natural ecosystems that are impossible or very hard to regenerate.
- Prevalence: the occurrence of the association itself across an organisation’s range of different activities (or portfolio). An association can be considered prevalent if it applies the majority or a large part of the organisation’s activities.
Example: For an enterprise with multiple different industrial activities, energy and resource needs are likely to be high across the variety of its production processes and distribution processes. Therefore, for this enterprise, associations with the topic of resource efficiency is likely to be prevalent across the variety of its activities. The enterprise may also run a vocational training programme as part of its corporate citizenship efforts, and which is not core to its business. As a result, the organisation’s association to the topic of education cannot be considered to be prevalent.
In the case of financial institutions, prevalence is mostly linked to portfolio composition. For example, the strength of a bank’s association with the impact topic of climate change is a function of the presence of high-emitting sectors in its portfolio.
Once strong impact associations have been established as per the above criteria, relevant impact topics can be determined by examining the intersection with impact topics for which there is a strong level of need, as revealed by the context analysis (described above).
Another important consideration when prioritising impact topics is the interlinkages (sometimes also referred to as interdependencies) between different topics. Where possible, enterprises, investors and financial institutions should prioritise those topics that enables one or more other impact topics to be addressed as well.
Example: A bank operating in Northern Africa is likely to have identified both climate change adaptation and income inequality as areas of need, and therefore the areas on which to focus their impact management efforts. A central part of adapting to climate change is building the resilience of an economies key sectors; the bank could support this by supporting the strategic growth and diversification of companies in key sectors. By focusing on climate change adaptation in this way, it will also be driving economic inclusion and development, both of which are critical drivers of income equality.
It is important to note that the initial prioritisation of certain sustainability topics does not imply that all others, especially any other negatively associated impact topics, are removed from the scope of an enterprise’s impact management.
Example: Impact topics and affected populations that are typically associated with a social media company may be the communication benefits and disinformation risks to users; as a result it would be expected that these topics be addressed by its impact management strategy. Other topics such as climate change and employee well-being might arise as less strongly associated to the company, but ensuring the company’s potential negative impacts in these areas are avoided, mitigated or compensated would likewise be expected.
The identification process acts as a first layer of prioritisation. However, prioritisation continues during the measurement, assessment and valuation process, when the organisation considers its actual impacts (not potential impacts, as in the present identification process) and its related practice. The Measure, assess and value action provides more information about this process
Resources
Resources that set expectations on identification in sustainability frameworks (for impact management practice)
For all enterprises:
OECD Guidelines for Multinational Enterprises
One of the main (and government-backed) international instruments on Responsible Business Conduct (RBC) setting out principles and standards on RBC. Regulators reference them in regulation.
This resource calls upon organisations to:
- Strategy: Align strategy with the expectation to avoid and address negative impacts of their operations, while contributing to sustainable development in the countries where they operate.
- Governance: under construction
- Identify: Set objectives with reference to minimum safeguards on topics such as: human rights, labour relations, employment practices, public health and safety, bribery and extortion, science and technology and taxation.
- Measure, assess and value: under construction
- Implement: Embed due diligence across business operations and in the value chain in order to identify, assess, mitigate, cease and prevent adverse impacts on people
- Communicate: under construction
OECD Due Diligence Guidance for Responsible Business Conduct
Guidance that provides practical support to enterprises on the implementation of the OECD Guidelines for Multinational Enterprises by providing plain language explanations of its due diligence recommendations and associated provisions.
Use this guidance to:
- Implement: Cease, prevent or mitigate negative impacts and provide for or cooperate in remediation where appropriate
Natural Capital Protocol
Guidance that outlines a process organisations should follow to identify, measure and value their impacts and dependencies on the natural environment.
Use this resource to:
- Strategy: under construction
- Governance: under construction
- Identify: Identify stakeholders in order to set objectives for a natural capital assessment and to map the links between significant impacts and the business activities that affect or rely on them. This process helps organisations determine whether each impacted stakeholder is likely to affect their business model (and therefore enterprise value).
- Measure, assess and value: Value impacts and dependencies on natural capital. This methodology draws on organisational data, data collected from stakeholders and publicly available country- or sector-level data.
- Set targets and plan: Use the guidance on how to identify and engage with stakeholders in order to set objectives for a natural capital assessment.
- Implement: under construction
Social and Human Capital Protocol
Guidance that outlines a process for organisations to follow so they can identify, measure and value their impacts and dependencies on social and human capital.
Use this resource to:
- Strategy: under construction
- Governance: under construction
- Identify: Map the links between significant impacts and the business activities that affect or rely on them. This process helps organisations determine whether each impacted stakeholder is likely to affect their business model (and therefore enterprise value)
- Measure, assess and value: Value impacts and dependencies on social and human capital. This methodology draws on organisational data, data collected from stakeholders and publicly available country- or sector-level data.
- Set targets and plan: Use the guidance on how to identify and engage with stakeholders in order to set objectives for a social and human capital based assessment.
- Implement: under construction
SDG Impact Standards for Enterprises
Practice standards that provide a common language and a system for integrating sustainable development issues, the Sustainable Development Goals and impact management into business and investment decision-making. These practice standards also outline the ‘ABC’ classification methodology, which helps organisations assess whether an impact ‘Acts to reduce harm’, ‘Benefits stakeholders’, or ‘Contributes to solutions’ in relation to the SDGs.
Use this resource to:
Set up processes and embed practices that orient an organisation towards achieving the SDGs. The SDG Impact Standard contains practice indicators that are relevant to several actions. Use the links below to access guidance for different practice indicators. Alternatively, view the whole guidance document here.
Principles of Social Value
The Principles provide the basic building blocks for organisations that want to make decisions whilst taking social value into account. They are intended to help organisations optimise value for all stakeholders materially affected by an organisations activities. Practice Standards are available to help organisations implement each principle to a point where they are accountable for their activities and are making decisions to optimise value.
Use this resource to:
- Set up processes to include social value data in management decision-making.
B Corp certification
Certification awarded when an organisation achieves a score of 80 on the B Impact Assessment.
Use this resource to:
- Become B Corp Certified. Organisations undergo verification including interviews, submitting documentation, and as necessary site reviews, to increase confidence that the company’s score is accurate and the required 80-point score has been achieved.
Standard on Applying Social Value Principle 1: Engage Stakeholders
Standard and guidance on how to apply the first of SVI’s Social Value Principles.
Use this resource to:
- Identify: Use the guidance on identifying stakeholders and engaging with them to understand actual and potential significant impacts.
- Set targets and plan: Use the guidance on identifying stakeholders, engaging with them, and collecting information to help shape strategy and objectives.
For investors and financial institutions:
Responsible Business Conduct for Institutional Investors
Guidance that explains the application of the OECD Guidelines for Multinational Enterprises in the context of institutional investors. The report highlights key considerations for institutional investors in carrying out due diligence that will help to identify and respond to environmental and social risks.
Use this resource to:
- Strategy: under construction
- Governance: Embed responsible business conduct into policies and management systems.
- Identify: Understand the responsible business conduct expectations for institutional investors, including a discussion of key considerations when identifying negative impacts and risks.
- Measure, assess and value: Understand the key considerations for institutional investors in carrying out due diligence as recommended by the OECD Guidelines for Multinational Enterprises (OECD Guidelines). This helps institutional investors to prevent and address adverse impacts related to human and labour rights, the environment, and corruption caused by companies in their investment portfolios.
- Implement: Cease, prevent or mitigate negative impacts and provide for or cooperate in remediation where appropriate.
Due Diligence for Responsible Corporate Lending and Securities Underwriting
The overall objective of the Initiative is to advance human rights and positive outcomes for people through investor stewardship. The Initiative will primarily seek change through investors’ use of influence with a global framework for financial institutions to identify, respond to and publicly communicate on environmental and social risks associated with their clients.
Use this resource to:
- Implement: Cease, prevent or mitigate negative impacts and provide for or cooperate in remediation where appropriate
Principles for Responsible Banking
Principles for Responsible Banking (PRB) are designed to ensure that signatory banks’ strategy and practice align with the vision society has set out in the Sustainable Development Goals and the Paris Climate Agreement.
This resource calls upon organisations to:
- Strategy: Commit to aligning the bank’s activities and portfolios to global goals, namely the Sustainable Development Goals (SDGs) and the Paris Agreements, by embedding sustainability at the strategic, portfolio and transactional levels, across all business areas. This initiative involves a fee for participation and requires periodic disclosure of progress made towards enforcing the Principles.
- Governance: under construction
- Identify: under construction
- Measure, assess and value: under construction
- Set targets and plan: under construction
- Verification, assurance and certification: Use the PRB Assurance Guidelines to assure adherence to the Principles.
Impact Standards for Financing Sustainable Development (IS-FSD)
Practice standards to support donors in the deployment of public resources through DFIs and private asset managers, in a way that maximises the positive contribution towards the SDGs. The Standards are harmonised in approach with the UNDP SDG Impact Standards suite, the IS-FSD constitute a framework, ensuring that collectively (with the SDG Impact Standards for PE Funds, Bond Issuers and Enterprises) they help to connect actors across the system using a common language and approach for integrating SDG impacts in the investment strategy and throughout the investment process and governance structures.
This resource calls upon organisations to:
- Strategy: Set impact objectives framed in terms of the SDGs and country priorities
- Governance: Set up processes and embed practices that are aligned with the SDG Impact Standards.
- Measure, assess and value: Understand whether all relevant information is being actioned to understand impact. The Standards outline how baselines, social/ ecological thresholds and other contextual information should be included in assessment of whether an underlying asset is contributing to the SDGs.
- Set targets and plan: under construction
- Implement: under construction
- Communicate: Disclose how impacts are managed and measured
SDG Impact Standards for Private Equity Funds
Practice standards that provide a common language and a system for integrating sustainable development issues, the Sustainable Development Goals and impact management into business and investment decision-making.
This resource calls upon organisations to
- Measure, Assess and Value: Develop an impact management and measurement framework
- Set targets and plan: Set portfolio level impact goals.
- Implement: under construction
- Verification, assurance and certification: Disclose how the SDGs and sustainability are integrated into decision-making and report on performance
Identification requirements in sustainability frameworks (for disclosure)
GRI Standards
Reporting standards designed to help organisations understand and disclose their impacts in a way that meets the needs of multiple stakeholders. These standards are arranged by a set of Universal Standards that apply to all organisations, and 35 Topic Standards that contain disclosures for impacts related to economic, environmental and social topics.
Use this resource to:
- Strategy:
- Identify: Identify metrics to measure for each significant topic. The standards themselves provide guidance on selecting metrics to report. Using standardised metrics helps the organisation and its stakeholders compare performance with others.
- Measure, assess and value: Identify metrics to measure for each significant topic. The standards themselves provide guidance on selecting metrics to report.
- Communicate: Report to all stakeholders on ‘material topics’ that reflect the organisation’s most significant impacts. Using standardised metrics helps the organisation and its stakeholders compare performance with others.
SASB Standards
Reporting standards that provide industry-specific disclosure topics and associated metrics that measure performance against 26 General Issue Categories (or sustainability topics). Management or mismanagement of performance on these sustainability topics may create, preserve or erode value for the typical company in a given industry over time.
Use this resource to:
- Identify: Understand whether a given topic is reasonably likely to materially affect the financial condition, operating performance, or risk profile of a typical company within an industry. Find industry-specific topics and accounting metrics. The standards themselves provide guidance on selecting metrics to report. Using standardised metrics helps the organisation and its stakeholders compare performance with others.
- Communicate: Report to providers of financial capital on sustainability topics that are likely to affect how value is created, sustained or eroded for the organisation over the short-, medium-, and long-term.
Guidance and resources for impact identification (for impact management practice)
For all enterprises:
Environmental, Health, and Safety Guidelines
The environmental, health, and safety (EHS) guidelines are technical reference documents with general and industry-specific examples of good international industry practice (GIIP).
Use this resource to:
- Identify: Understand the performance levels and measures that are generally considered to be achievable in new facilities by existing technology at reasonable costs.
Impact Mappings
The excel-based Impact Mappings are standalone versions of the research embedded in UNEP-FI’s Impact Analysis Tools, split into two parts.
First, the Sector Mappings show the strength of connection between economic activities (using ISIC classification) and positive and negative impacts (using UNEP-FI’s Impact Radar). Second, the Needs Mappings track a selection of indicators at global, country and local levels as a way to estimate the sustainable development needs in different geographies.
Use this resource to:
- Identify: Understand the impact areas and topics associated to different economic activities by consulting the Sector-Impact map; understand both positive and negative associations; identify key sectors for different impact areas and topics.Understand the impact areas and topics associated to different economic activities by consulting the Sector-Impact map; understand both positive and negative associations; identify key sectors for different impact areas and topics.
IRIS+ Guidance / Thematic Taxonomy
Guidance on IRIS+ Impact Categories and Impact Themes.
Use this resource to:
- Strategy: An impact investor sets ex ante intention within the Thematic Taxonomy.
- Identify: Understand and frame portfolio objectives using the Impact Themes and Impact Categories contained in the Thematic Taxonomy.
SDG Investor Maps
Country-level data and insights about SDG-enabling investment opportunities. This work focuses on the gap between interest in investing in SDGs and the business models that could provide investable opportunities.
Use this resource to:
- Identify: Identify investment themes in emerging markets which have significant potential to advance the SDGs that are aligned to government policies and sustainable national development needs.
Maximise Your Impact: A Guide for Social Entrepreneurs
Guidance to help an organisation maximise the positive social value it creates.
Use this resource to:
- Strategy: Engage stakeholders and understanding their objectives and needs in order to design a business model around delivering these objectives.
- Governance: under construction
- Identify: under construction
- Measure, assess and value: Check whether the organisation has all the information it needs to assess impact. The guidance contains 10 questions that guide impact assessment and function as a checklist to ensure all necessary contextual information is collected.
- Set targets and plan: Use the guidance on engaging stakeholders and understanding their objectives and needs in order to design a business model around delivering these objectives.
- Implement: Integrate information on social value into management decision-making.
SDG Action Manager
Tool designed to help organisations measure and manage their impacts in relation to the Sustainable Development Goals.
Use this resource to:
- Identify: Understand the SDGs most relevant to manage, based on the organisation’s size, sector, and geography. The questionnaire draws from B Lab’s B Impact Assessment and the UN Global Compact’s 10 Principles. It was developed through research and public consultation and so provides an evidence-based starting point for identifying sustainability topics to measure.
- Measure, assess and value: Obtain a set of metrics. The questionnaire enables organisations to collect performance information on the SDGs that are most relevant to manage, based on the organisation’s size, sector and geography.
B Impact Assessment
Tool designed to help organisations measure and manage their impact on workers, community, environment, and customers.
Use this resource to:
- Measure, assess and value: Identify a set of metrics. The questionnaire enables organisations to quickly get started collecting information on performance on sustainability topics that are likely relevant to manage, based on the organisation’s size, sector, and geography.
Corporate Impact Analysis Tool
Tool to help banks and investors understand the actual and potential impacts of their clients and investee companies, as part of their impact management strategies and processes.
Use this resource to:
- Identify: Understand the impact areas and topics associated with a corporate client/investee based on company type, sector and context; identify the company’s most significant impact areas.
- Measure, assess and value: Review existing metrics for impact measurement via the associated Indicator Library embedded within the tool to. UNEP-FI has collated metrics from reporting standards and frameworks (GRI, SASB, CDP, TCFD), impact investor and development bank resources (IRIS+ and HIPSO), government taxonomies (EU Adaptation and Mitigation Taxonomies) and other sources to support indicator selection and interoperability between frameworks.
For investors and financial institutions:
Investing with SDG Outcomes: A Five-part Framework
A high-level framework for any investors looking to shape real-world outcomes in line with the Sustainable Development Goals (SDGs).
Use this resource to:
- Strategy: under construction
- Governance: under construction
- Identify: Identify and understand the unintended outcomes of an investors’ investments and their own operations. This assessment involves identifying positive and negative real-world outcomes related to investees’ operations, products and services.
- Measure, assess and value: under construction
- Set targets and plan: Move from identifying and understanding unintended outcomes towards taking intentional steps to shape outcomes.
- Implement: Explore examples of how investors shape outcomes through investor actions including: investment decisions, stewardship of investees and engagement with policy makers and key stakeholders.
Responsible Business Conduct for Institutional Investors
Guidance that explains the application of the OECD Guidelines for Multinational Enterprises in the context of institutional investors. The report highlights key considerations for institutional investors in carrying out due diligence that will help to identify and respond to environmental and social risks.
Use this resource to:
- Strategy: under construction
- Governance: Embed responsible business conduct into policies and management systems.
- Identify: Understand the responsible business conduct expectations for institutional investors, including a discussion of key considerations when identifying negative impacts and risks.
- Measure, assess and value: Understand the key considerations for institutional investors in carrying out due diligence as recommended by the OECD Guidelines for Multinational Enterprises (OECD Guidelines). This helps institutional investors to prevent and address adverse impacts related to human and labour rights, the environment, and corruption caused by companies in their investment portfolios.
- Implement: Cease, prevent or mitigate negative impacts and provide for or cooperate in remediation where appropriate.
Investment Portfolio Impact Analysis Tool
Tool to help investors holistically understand and manage the actual and potential impacts of their portfolios.
Use this resource to:
- Identify: Identify impact areas and topics (economic, environmental and social) associated with an investment portfolio, based on an objective review (cartography) of the portfolio, sectoral and geographic breakdown.
- Measure, assess and value: Assess current practice and performance vis a vis its most significant impact areas by combining the tools ‘Identification’ outputs with additional data; use the assessment as a basis for target-setting and to define the bank’s action plan.
Core Characteristics of Impact Investing
The Core Characteristics of Impact Investing define the growing approach of impact investing, and offer the financial markets greater clarity on what constitutes credible impact investing.
This resource calls upon organisations to:
- Intentionally contribute to positive social and environmental impact, use evidence and impact data in investment design, manage impact performance, and contribute to the growth of impact investing
Operating Principles for Impact Management
Principles describe essential features of managing investments into companies or other organisations with the intent to contribute to measurable positive social or environmental impact alongside financial returns.
This resource has mandatory requirements for signatories.
This resource calls upon organisations to:
- Strategy: Define strategic impact objectives consistent with the investment strategy alongside managing strategic impact on a portfolio basis.
- Governance: Commit to following the principles and periodically having progress of adoption independently verified. The Principles can be applied to an entire investing organisation or an individual fund.
- Identify: under construction
- Measure, assess and value: Assess potential negative impacts of each investment.
- Set targets and plan: under construction
- Implement: Respond appropriately to information on actual and potential impacts.
- Communicate: Use Principle 9 to enable public disclosure of alignment with the Principles.
Impact Protocol for Banks
The Impact Protocol provides a step-by-step overview of how to analyse and manage bank portfolio impacts.
Use this resource to:
- Understand how to manage bank portfolio imapcts as per UNEP FI’s holistic impact approach and in conformity with the requirements of the Principles for Responsible Banking.The Protocol provides an overview of the impact management process as a whole; it is complemented by further UNEP FI resources such as the Impact Management Tool and the Thematic Target-Setting Guidance, which can be used to operationalise the methodology.
Portfolio Impact Analysis Tool for Banks
Tool to help banks and investors holistically understand and manage the actual and potential impacts of their portfolios.
Use this resource to:
- Identify: Understand the impact areas and topics associated to your bank’s portfolio based on portfolio composition and context, identify the bank’s most significant impact areas.
- Measure, assess and value: Assess current practice and performance vis a vis most significant impact areas by combining the tools ‘Identification’ outputs with additional data; use the assessment as a basis for target-setting and to define the bank’s action plan.
- Set targets and plan: Define relevant and meaningful targets and action plans.
Global guidance on the integration of environmental, social and governance risks into insurance underwriting
The first global guide to manage ESG risks in risk assessment and insurance underwriting. It has an initial focus on non-life insurance business—also known as property and casualty insurance business.
Use this resource to:
- Identify: Understand the materiality of ESG risks to various lines of business and economic sectors, including characteristics which might affect the ability to assess and mitigate such risks.
- Measure, assess, and value: Develop approaches to assess ESG risks in non-life insurance business transactions, particularly industrial and commercial insurance business.
- Implement: Address the growing concerns by stakeholders across society (e.g. NGOs, investors, governments).
Guidance for impact identification (for disclosure)
GRI Sector Standards
GRI is developing standards for 40 sectors to compliment their current topic standards.
Use this resource to:
- Identify: Identify sustainability topics to measure using the list of topics listed for each Sector Standard.
- Measure, assess and value: Identify metrics to measure for each significant topic. The standards themselves provide guidance on selecting metrics to report.
- Communicate: Report to all stakeholders on ‘material topics’ that reflect the organisation’s most significant impacts. The Sector Standards are a helpful starting point for identifying likely significant impacts.
SASB Materiality Map
A visual and interactive tool to explore SASB’s disclosure topics across its industries and sectors.
User this resource to:
- Identify: Identify industry-specific disclosure topics and associated metrics. SASB’s research process identifies the subset of environmental, social, and governance issues reasonably likely to materially impact financial performance of the typical company in an industry
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