OpenIDEO is an open innovation platform. Join our global community to solve big challenges for social good. Sign Up / Login or Learn more

You can change what you measure

Generally Accepted Accounting Principles (GAAP) measure financial metrics, Impact Reporting & Investment Standards (IRIS) measure social & environmental performance. IRIS increases the value of non-financial data & enables measurement & improvement!

Photo of DeletedUser
7 14

Written by DeletedUser

The idea is that if you can measure the way you are impacting the community, then you can compare it to what others are doing, improve your performance, and convey your milestones to investors. This way, companies can show how they are creating value outside of financial return. They can also learn what others are doing within their industry to increase impact!

More about IRIS from their site ( http://iris.thegiin.org/):
IRIS is a set of standardized metrics that can be used to describe an organization’s social, environmental, and financial performance. IRIS' independent and credible performance measures help organizations assess and report on their social performance. IRIS metrics span an array of performance objectives and include sector-specific metrics for areas such as financial services, agriculture, and energy among others. Like financial accounting standards, IRIS provides a basis for performance reporting and organizations need only use relevant metrics from the IRIS library.

Sample Report: http://iris.thegiin.org/report/solar-today

7 comments

Join the conversation:

Comment
Photo of DeletedUser

DeletedUser

Great! How did this only get 10 applauses? I like that the inspiration is accounting standards, cos they show they it is possible to standardise something and create meaning for others through comparison

View all comments