Climate Change and Sustainability Services
- Sustainability diagnostics and sustainability strategy
- Sustainability risk management system
- Sustainable supply chain
- Social impact assessment
- Responsible finance
- Cleantech and resource effectiveness
- Non-financial reporting
- Independent assurance
- Transactions: cleantech and sustainability
Social impact assessment
Business has a significant impact on the socioeconomic situation in the regions through its operations, charity programs and community investments. By investing in new production lines and infrastructure development, companies create new jobs, pay taxes and increase standards of living. Through their important initiatives, companies participate in resolving socio-economic and environmental problems and, therefore, contribute to building a positive environment for both business and community.
At the moment there are many tools for assessing business impact. A company can choose one of these tools depending on the activity and type of impact it would like to assess and disclose.
EY helps clients to choose tools and assess their social impact. Read more about our services and approach.
Social economic impact assessment – SEIA
Companies build extensive contacts and relationships in their locations by procuring goods and services and engaging with communities. Quantified, such contacts and relations can help the company understand the short- and long-term value it adds to the national or regional economy, improve location-specific investment programs and identify stakeholder needs. Different methodologies help in assessing the direct, indirect and induced socioeconomic impact of company operations.
- Estimation of a company’s contribution to the social and economic development of a country or region
- Assessment of the economic, social and environmental effects of specific projects
Social return on investment — SROI
A well-developed infrastructure in the company's locations, including community facilities (e.g., cultural facilities, schools, sports and healthcare facilities), transport and ICT, and programs in education, entrepreneurship and healthcare are critical for a number of reasons. For example, these are essential for creating good working and living conditions for employees and their families and easing social tension. SROI can be used to understand the positive social outcomes and financial returns of a project or business activities of a company.
Инструмент SROI позволяет сопоставить позитивные социальные эффекты (в денежном эквиваленте) от реализации отдельных инвестиционных проектов или ведения деятельности компании в целом с соответствующими затратами всех заинтересованных сторон на эти проекты или деятельность.
- Evaluation of the effectiveness of social investments
- Assessment and improvement of charity-recipient accounting and reporting processes
- Prioritization of charity activities and identification of the types and forms of charity that best suit the nature of business