In environmental terms, the impact of a company can, for example, include the effects associated with greenhouse gas emissions, use of water resources or waste production. In a social context, it can include the effects on the local community, workers and suppliers, and the health and well-being of people.

 

Understanding a company's impacts is not a simple task, but it is the first step to develop a sustainability plan that is pragmatic and credible.

 

Next we need to measure these impacts because ‘you cannot manage what you don’t measure’. When it comes to measurement, especially when dealing with environmental impacts, we can avail of methods such as Life Cycle Assessment (LCA), Product Carbon Footprint or Carbon Corporate Footprint.

 

In the social context too, a wide range of approaches are being consolidated which can yield more tangible metrics to allow companies to make informed decisions.

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