Social Impact Statement

A company’s social impact statement is akin to a corporate responsibility statement: it’s the “look at how great we are!” statement for how a company is affecting society and the environment, particularly where the company operates.

Social impact statements include some value statements about what they believe, core values, yada yada...and usually also some quantifiable stuff, like volunteer hours the staff has worked, charity contributions, green aspects of their building, and however else they can pat themselves on the back to get likes from the public.

As companies get larger and the public gets louder about the environment and social issues, social impact statements are becoming more of the norm and less the exception. If a company wants to do business nowadays, a social impact statement and the costs included in it are part of the costs of doing business.