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Jun032016

Measuring economic, social and environmental impact 

The Aspen Network of Development Entrepreneurs (ANDE) is a global organization consisting of members that support small and growing businesses (SGB) in emerging economies.

A central element of ANDE's work involves promoting the measurement of the impact that these businesses have across multiple dimensions -- economic, social and environmental -- and it has developed it's own core set of metrics to track the development of the SGB sector. ANDE also recommends that its members adopt IRIS, a catalog of social, environmental, and financial performance metrics for impact investors from the Global Impact Investing Network.

We are interested in ANDE's efforts to foster common, transparent measurement definitions, and share its belief that these can improve not just credibility but overall business performance as well. For a closer look at how ANDE and its partners are using metrics to support value creation, I encourage you to read this SSIR article that postulates:

"For metrics and evaluations to create value for us, individually and collectively, we must do two things:

  1. Integrate impact metrics with financial and operational ones. Integrated metrics can help organizations develop better products and services, improve resource allocation, and build more efficient and impactful businesses.
  2. Implement targeted, actionable evaluations that are useful to multiple stakeholders and fit with collective learning agendas. Such evaluations will build on existing knowledge; break down big questions into manageable, answerable pieces; and put the answers back together to inform strategic decision-making for enterprises and the sector at large."

Image source: ANDE

-- Clara Shen

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