The Social & Human Capital Protocol is a new initiative which aims to mainstream the measurement of social impacts for business – shifting the improvement of social performance from an optional extra to a core part of business decision making.
People are at the core of business. They are companies’ employees, customers, suppliers, distributors, retailers and neighbors. They determine whether a company has a productive workforce, loyal customers, healthy value chains, vibrant local communities, and supportive governments and stakeholders now and into the future. Their growth and well-being matter to the bottom line.
To do well in today’s world, companies must understand the value they create for their shareholders, for society, and for business beyond financial returns. Companies that truly value people will be more successful.
The Social Capital Protocol serves two purposes:
- It provides a consistent process to guide companies through the journey of measuring, valuing and better managing social capital.
- It provides a framework for collaboration to harmonize the currently fragmented landscape of social impact measurement and valuation, and to move towards standardized approaches for business.