Choosing the right frameworks, principles/methodologies, and certification process.
Impact Strategy provides a foundation based on the most common frameworks. While there are many standards, frameworks, principles, or certifications, ultimately, your goal drives choices of the framework, whereas principles ensure that you follow best practices associated with the goals. Principles or certifications are optional but critical as you mature our impact management or sustainability approaches.
Impact Strategy binds frameworks with eternal standard metrics, custom metrics, and SDG alignment. This alignment helps data collection, data aggregation, and impact reporting.
The table below provides guidelines for choosing different frameworks, principles, and certifications.
You are
Asset managers, such as impact funds, grantmakers, social impact accelerators, or social purpose organizations such as nonprofits, social enterprises, B-corps, or social businesses or corporates focusing on social or environmental impact
Want to
Outcome Oriented Approach. Useful in reporting activity, output, and outcome data. Different organizations start with a framework such as below. Fundamentally each of them focuses on outcome, output, and activities.
- Theory of Change
- Logic Model
- Log Frame (Common in M&E background
- Results-Based Framework (Public Agencies)
Consider the following
Principles
Want to focus on a stakeholder-driven approach consider applying 7 principles of Social Value
Certification
Start here ➡️
You are
Impact Investor, enterprise looking to raise impact capital or corporate looking to understand the impact (not sustainability)
Want to
- Want to align with Five Dimensions of Impact From Impact Management Project (Useful in learning WHAT, WHO, HOW MUCH, CONTRIBUTION and RISK)
- Align with sustainable development goals
- Understand the impact risk before investment
- Understand the impact evidence at an agreed-upon frequency (quarterly, semi-annual, annually)
Consider the following
Principles
Certification
Start here ➡️
You are
Corporates looking to align business strategy around shared value principles
Want to
Useful when not familiar with any framework but focusing simply on Key Targets. Tracking with SDG and industry external benchmark is critical, such as
- Future Fit
- SDG Action Manager
Or align with Shared Value principles
Consider the following
Principles
Certification
Not Available
Start here ➡️
Theory of Change add KPIs to Output Metrics