Profits With A Purpose

Measuring Impact

Measuring Impact

Over 90% of global public investors have specific environmental, social and governance investment (ESG) policies in place or are in the process of developing them, according to survey results released August 17 by BNY Mellon and the Official Monetary and Financial Institutions Forum (OMFIF) , an independent forum for central banking, economic policy and public investment.Yet, investors, as well as consumers and employees, lack transparency on the impact companies make through their products, employment and operations. Some 63% of sovereign and pension funds struggle to formally measure non-financial impact, according to the BNY Mellon and OMFIF survey. What is needed, say experts, is a standardized accounting system to measure companies’ environmental and social impact as well as proofs provided by technology. Tech giants Salesforce and SAP have developed environmental impact tracking software. Persefoni, a U.S. startup, is using artificial intelligence (AI) to track emissions and France’s SmartB, a 2019  startup of the week in The Innovator, has launched a worldwide decentralized Hyperledger blockchain network allowing “evidence of impact” to be generated, tracked, and traded,

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About the author

Jennifer L. Schenker

Jennifer L. Schenker, an award-winning journalist, has been covering the global tech industry from Europe since 1985, working full-time, at various points in her career for the Wall Street Journal Europe, Time Magazine, International Herald Tribune, Red Herring and BusinessWeek. She is currently the editor-in-chief of The Innovator, an English-language global publication about the digital transformation of business. Jennifer was voted one of the 50 most inspiring women in technology in Europe in 2015 and 2016 and was named by Forbes Magazine in 2018 as one of the 30 women leaders disrupting tech in France. She has been a World Economic Forum Tech Pioneers judge for 20 years. She lives in Paris and has dual U.S. and French citizenship.