Leading international providers of sustainability standards and guidance have come together to create the Impact Management Platform, a collaboration to mainstream the practice of impact management. As a first product, the ‘Platform’, whose steering committee brings together the IFC, OECD, UNDP, UNEP FI and UNGC, has launched a web tool that outlines the core actions of impact management and links to the resources to help organisations and investors implement them.
Over the past decade, there has been significant growth in demand for organisations to improve their impacts on people and the planet, and to contribute to achieving the Sustainable Development Goals by 2030. Core to making this possible is effective impact management. However, the growing number of initiatives supporting different aspects of impact management have been difficult for enterprises and investors to navigate. With the climate crisis and COVID-19 pandemic demonstrating the fundamental interdependencies between markets and sustainability issues, the urgency to build a coherent and complete system of principles, standards and guidance for how to improve sustainability impacts has never been greater.
“Mainstreaming impact management across business and finance is critical for achieving the SDGs and essential to future-proofing business. UNEP FI is delighted to be joining forces with its peers to work towards a complete and coherent system of norms and resources for impact management” – Eric Usher, Head, UNEP FI
Through the Platform, partnering organisations will work together to identify opportunities to consolidate existing sustainability resources, collectively address gaps, and coordinate with policymakers and regulators to support the mainstreaming of impact management. This effort represents the next phase of a global collaboration that, until now, was facilitated by the Impact Management Project (IMP), a five-year consensus-building forum designed to run until 2021. Earlier work included facilitating sustainability disclosure initiatives to agree a shared vision for corporate reporting, and supporting the consolidation of the investor-focused disclosure initiatives into the IFRS Foundation and its new International Sustainability Standards Board (ISSB). The Platform, whose Steering Committee of multilaterals will also advise the ISSB, provides a complementary forum for the broader task of supporting practitioners to manage their sustainability impacts.
The Impact Management Platform website can be accessed at www.impactmanagementplatform.org