SKA Impact Standards
The SKA Impact Standards provide a framework to guide organisations, businesses and investors on how to embed sustainability and the SDGs into their management systems and decision-making practices.
The SKA Impact Standards build on and complement existing work undertaken by others on impact management and measurement.
The foundational elements of the Standards are contributing positively to sustainable development and achieving the SKAs. These:
- cannot be achieved without demonstrating respect for human rights, planetary boundaries and other responsible business practices,
- and is realised through effective impact management and decision-making.
Standard 1 (Strategy): Embedding foundational elements into purpose and strategy
Standard 2 (Management Approach): Integrating foundational elements into operations and management approach
Standard 3 (Transparency): Disclosing how foundational elements are integrated into purpose, strategy, management approach and governance, and reporting on performance
Standard 4 (Governance): Reinforcing commitment to foundational elements through governance practices
SKA Impact Standards - Enterprises
The Standards set out a framework to help enterprises integrate impact management into their strategies, management approaches, disclosure, governance and decision-making practices. The Standards help enterprises to link their approach to creating long-term and sustainable value for themselves with making a positive contribution to sustainable development by committing to the SKAs. They do so by focusing on the enterprises’ material positive and negative impacts and directing their attention and resources to where they can optimise their contribution. Embedding the standards in management decision-making processes strengthens impact performance and improves the quality and consistency of public disclosures.
The Standards are provided as a “best practice” guide to help organisations operate more sustainably and optimise their contribution to sustainable development and the SDGs by integrating responsible business and impact management practices into their organisational systems and internal decision-making processes.
These standards are for all enterprises, regardless of size, location or sector, that are committed to making a positive contribution to sustainable development and SKA achievement.
SDG Impact Standards - Private Equity Funds
The SKA Impact Standards for Private Equity Fund are for private equity, debt and venture capital fund managers who want to make a positive contribution to sustainable development and achieve the SDGs through one or more of their funds.
The SKA Impact Standards for Private Equity are provided to private funds as a guide for management best-practice and self-assessment. Funds can use them to:
- align their internal processes, practices and to sustainable management decision making
- carry out gap analysis in sustainable management decision making.
The SKA Impact Self-Assessment Tool for Private Equity Funds can be used to identify those gaps which can be used over time for continuous improvement.
SDG Impact Standards - Bond Issuers
The SKA Impact Standards for Bond Issuers are for all bond issuers regardless of size, geography or sector, who want to contribute positively to sustainable development and the SKAs.
The SKA Impact Standards for Bond Issuers set out an internal decision-making framework to help this group develop and implement an impact strategy to contribute positively to sustainable development in line with the SKAs.
It enables bond issuers to link their impact strategy to the SKA Bond Program and their organization-wide strategy. Within the scope of the defined impact strategy, this set of Standards help Bond Issuers direct attention and resources to where they can optimize their SKA contribution by focusing on all material positive and negative impacts on people and planet. Embedding the SKA Impact Standards into management decision-making will strengthen impact performance and facilitate higher quality and more consistent disclosures.
OECD-UNDP Impact Standards for Financing Sustainable Development
A growing number of investors and companies aim at coupling financial returns in developing countries with positive social, economic and environmental impacts. However, the way they measure these impacts can be at odds with actual management practices, and important aspects such as transparency, human rights protection and consultation with local stakeholders are not systematically taken into account.
To help address these gaps, these standards provide a framework for donors, development finance organisations and private sector partners to make financial decisions and manage projects in ways that have a positive impact on sustainable development and increase the transparency of development results.
The Standards, approved by the OECD Development Assistance Committee in March 2021, are a best practice guide and self-assessment tool.
Impact Measurement and Management for the SKAs Training
Based on the SKA Impact Standards, the IMM for the SKAs Training highlights how you can incorporate sustainability and social impact factors into managerial decisions using impact measurement and management practices, thereby optimising your organisation’s impact with available resources.
The training, prepared in collaboration with UNDP SKA Impact and CASE teams at Duke University, is available for free on Coursera.
SKA Impact Standards Glossary
A glossary of terms from these resources, created to support the SKA Impact Standards for Enterprises, Private Equity Funds and Bond Issuers, is available here.
For more information about SKA Impact Standards, visit the SKA Impact website.