Using B Analytics to measure what really matters
B Analytics is one tool that you can use for measurement. Alicia Darvall, Executive Director of B Lab Australia and New Zealand, tells us more about B Analytics and how it can be used.
This blog post was originally posted on TDi website – http://tdi.org.au/using-b-analytics-to-measure-what-really-matters/
B Analytics is a custom platform and tool that allows organisations to benchmark and report on environmental, social and governance impact, and allows investors to measure the impact of their portfolios using custom impact metrics, as well as comparable Global Impact Investment System (GIIRS) Ratings built on the IRIS catalogue.
B Analytics allows you to:
- Find companies and funds to invest in
- Measure and evaluate impact data on the organisations and funds in a portfolio, platform, supply chain or association
- Benchmark and report on social and environmental performance
- Improve your impact through the use of DIY consulting tools.
GIIRS Ratings is the gold standard for impact measurement in impact investing and has comparable ratings of a company or a fund’s social and environmental impact. B Analytics can be used by all businesses as a tool for investors and fund managers to assess the social and environmental impact of their investments, in addition to the financial metrics. Any organisation can obtain their GIIRS Ratings, however all B Corps are given GIIRS Rating as part of the ‘B Corporation’ certification process.
Some examples of leading organisations currently using B Analytics as a tool to measure their success in business are:
- Rockefeller Foundation – using the tool to attract future investors
- Skoll Foundation – using the tool to identify the people and programs already bringing positive change around the world
- One Percent for the Planet – identifying members to donate 1% of their sales to not-for-profit partners.
The ‘B Corporation’ certification evaluates and rates businesses, similar to the way that LEED certification is used for buildings or Fair Trade is used for coffee or chocolate. Through the B Impact Assessment an organisation’s social and environmental impact is benchmarked against the work of other organisations. B Lab Australia and New Zealand is the not-for-profit behind this and helps organisations across Australia and New Zealand be measured against rigorous standards of social and environmental performance, accountability and transparency, before they are certified as a ‘B Corporation’.