Smart Innovators: Social Impact Solutions
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Executive Summary
Over the past few years, social impact has risen in prominence, due to global events and mega-trends changing the ways that firms operate, as well as growing attention being paid to the social pillar that comprises part of the ESG scores for investment decision-making. This report provides a benchmark of social impact solutions as part of a broader ESG ecosystem. The study defines the scope of social impact solutions and assesses the capabilities of 46 social impact solutions providers for corporate buyers seeking to enhance their social impact, drive purpose within their firms and offer a better employee experience. Verdantix analysis finds that a wide variety of software vendors are operating in the social impact solutions space. The four categories of social impact solutions defined in the research are: 1) diversity, equity and inclusion (DEI); 2) corporate philanthropy and social impact investment; 3) stakeholder engagement; and 4) employee experience. CSR, ESG, human resources (HR) and sustainability functions should use this report to inform the adoption and integration of social impact solutions into their digital ESG ecosystems.
Table of contents
Social Impact Solutions Grow Into Their ESG Pillar
Key Events Over The Last Two Years Have Brought Social Issues To The Fore
Social Impact Should Not Be A Second Thought For Corporates
Firms Need To Implement An Effective System Of Record To Measure Their Social Impact
Social Impact Solutions Give Much-Needed Breadth To Digital ESG Strategies
Social Impact Requirements Map To Four Core Capabilities
Harnessing Internal Capabilities Can Help Corporate Selection In A Scattered Solution Landscape
Table of figures
Figure 1. Composition Of The Social Pillar Of ESGFigure 2. Social Performance Is Seen As A Priority In The 2021 Verdantix Global Corporate Survey
Figure 3. Frameworks To Measure Social Impact
Figure 4. Social Impact Solutions Capabilities & Definitions
Figure 5. Categories Of Social Impact Solutions Software Providers
Figure 6-1. Social Impact Solutions Capabilities Assessment
Figure 6-2. Social Impact Solutions Capabilities Assessment
Figure 6-3. Social Impact Solutions Capabilities Assessment
Organisations mentioned
MarketPsych, #metoo, Alaya, alva, APlanet, Asian Development Bank, B Corp, Benevity, Black Lives Matter, BlackRock, Blendoor, Bloomberg, Boohoo, Borealis, Bright Funds, Ceridian, Clarity AI, Cuantix, Culture Amp, Diversio, Equileap, EU, European Commission, EY, FigBytes, Financial Conduct Authority (FCA), Freespace, Giki, Global Reporting Initiative (GRI), Google, Greenly, Hult International Business School, International Capital Market Association (ICMA), International Financial Reporting Standards (IFRS) Foundation, International Sustainability Standards Board (ISSB), IsoMetrix, Jambo, Kanarys, Klima, Lattice, Legal & General, Loop, Maanch, Matter, McDonald’s, Microsoft, Moody’s, Morningstar, Neighbourly, Nestlé, NetBenefit, NEXCO EAST, Nike, onHand, Oracle, Organisation for Economic Co-operation and Development (OECD), Pawprint, Principles for Responsible Investment (PRI), Pulsely, Qualtrics, Refinitiv, RepRisk, S&P, SAI360, Salesforce, SAP, Selflessly, Shell, SmartHead, Socialsuite, SoPact, Sphera, Submittable, Sustainability Accounting Standards Board (SASB), Sustaira, Task Force on Climate-related Financial Disclosures (TCFD), Task Force on Inequality-related Financial Disclosures (TIFD), Twitter, UL, UN, US Chamber of Commerce, US Equal Employment Opportunity Commission (EEOC), US Securities and Exchange Commission (SEC), Visier, WeSpire, WorkBuzz, Workday, Yale School of ManagementAbout the authors
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