Currently ESG and Impact Measurement are separate. We see them as one.
Right now, the industry of environmental, social, & governance (ESG) and the space of impact measurement lie within separate domains, largely siloed from one another. On its own, ESG reporting tells us the facts around what work was done by an organization, but often fails to fully examine the actual impact. We need to be looking at ESG reports and determining what changes came about from the investments, initiatives, and projects involved. At Riddl, we see ESG data and Impact data as complementary areas, each layering on information that can be applied to all impact data, targets, and outcomes.
The reasons for collecting ESG data are varied: for corporate social responsibility (CSR) reports, ESG reports, for a corporate mandate, or to report back to funders. Often the data is required in order to meet specific frameworks like the Impact Management Project (IMP), Sustainability Accounting Standards Board Index (SASBI), the Global Reporting Initiative (GRI), or the Sustainable Development Goals (SDGs). Regardless of why data is collected, at Riddl, we recognize that organizations who are collecting this data are creating value and we’re interested in understanding what that value truly is and how it works within the broader picture.
We believe that instead of collecting our data separately, if we treat our impact and ESG data as one set, it can be used for multiple reports and frameworks, both for ESG reporting and impact measurement reporting. Then we can begin to understand its true value, which can be determined through Social Return on Investment (SROI) calculations and also through the work that the Impact Weighted Accounts project is working on.
We’ve developed the Riddl platform with a keen interest in not just collecting data, but in learning what each individual data point tells us, through both ESG and impact measurement. We believe that if we collect enough data points, we can better predict success, repeat that success, and start to solve complex problems faster. With Riddl, organizations can truly begin to move the dial forward on solving the world’s biggest challenges. That’s the Riddl advantage.
Contact us today to learn how Riddl can help you get the most out of your ESG and impact data.
