Today, business success cannot be achieved through a narrow focus on short term shareholder return. Companies that want to excel need to understand how their actions contribute to Good Growth: growth that is real, inclusive, responsible and lasting.
Placing value on how your business impacts the economy, the environment, and wider society is as important as calculating financial return. Altogether, Good Growth measures the total impact your business has on society and provides the information you need to navigate today’s operating environment.
By evaluating social, environmental, and economic impacts, business leaders are now able to compare the total impacts of their strategies and investment choices. By managing trade-offs, they are able to identify optimal decisions for their business and their stakeholders.
How we can help
PwC's Sustainability practice helps organisations plan, source, deliver, finance and measure the wider impact of their products and services. We’re helping to future-proof businesses by making them more resilient, agile and sustainable.
We provide guidance on a wide variety of issues, working with clients from corporate, private equity, and public sectors. We are specialists in helping organisations spot risks and harness opportunities.
Watch the video to find out why a thriving society in a thriving environment is in business’s best interest.
Impact Explorer
Successful businesses need to focus on delivering value to shareholders and wider society, which means understanding their societal impacts beyond traditional financial metrics to answer questions such as:
- How am I creating value for society?
- What positive and negative impacts does my supply chain create?
- Which impacts are the most significant and what is driving them?
Impact Explorer provides insights into these questions by assessing a company’s costs and benefits to society using consistent and comparable units.
Impact Explorer measures and monetizes company’s global supply chain impacts “from cradle to gate” across 10+ environmental and socio-economic impact categories. It uses extended input-output modelling combined with leading-edge environmental and social valuation, based on welfare economic principles.
Total Impact Measurement & Management (TIMM)
TIMM is a new PwC tool for business decisions. It enables management to develop a better understanding of the social, fiscal, environmental and economic impacts of their activities, while making a profit.
TIMM gives management the ability to compare strategies and make business decisions such as investment choices using quantified data, and evaluate the total impact of each decision and choice they make.
Four TIMM quadrants
- Social Impact - Measures and values the consequences of business activities on society such as health, education and community cohesion.
- Environmental Impact - Evaluates the impact that business has on natural capital, e.g. emissions to air, land and water, and the use of natural resources.
- Tax Impact - Values a business's contribution to public finances, including taxes on profits, people, production and property, as well as environmental taxes.
- Economic Impact - Measures the effect of business activity on the economy in a given area, by measuring changes in economic growth (output or value added) and associated changes in employment.
Contacts
