Meaningful stakeholder engagement refers to the routine interaction with any relevant stakeholders, including those individuals that are affected by your decisions, with the openness to adjust your services based on their feedback. Yet, currently, stakeholder engagement is used more as a buzzword as opposed to its purpose of tangibly influencing decision making. So how do we turn stakeholder engagement from just a buzzword to a meaningful and practical process?
In mainstream investing, success is measured through financial performance – returns. To align fund managers’ interests, their carry is tied to it. If impact investing promises both financial and impact performance, should we link compensation accordingly?
In order to implement impact measurement and management (IMM) at scale, more tools are required for efficient aggregation of impact data and decision making. So what role does technology play in making real impact management feasible and how should enterprises identify appropriate technological solutions?
To effectively measure and manage social and environmental impact, numerous measurement methodologies mention engaging with stakeholders as a key practice. Although stakeholder engagement seems like a simple process, there is still a lack of adequate implementation. So how can we effectively engage with stakeholders and act upon the outcomes to improve operations while maximising the impact of our work?
Set to miss the 2030 targeted Sustainable Development Goals (SDGs), we ask ourselves what role the financial sector has to play to reach the needed scale and pace.
Stakeholder involvement is a consistent requirement in standards set by leaders in this space, such as Social Value International, the Impact Management Project and many others.
Are you part of the growing group of people aiming to make organisations and the economy serve a greater purpose than wealth accumulation? Then much like us, you have probably wondered a thousand times what you could do better to make strides towards enabling that purpose. It is precisely with this mission in mind that Efiko Academy was born in September 2020.