Business for Societal Impact (B4SI) recently partnered with Dream Impact Hong Kong to convene sustainability and social impact practitioners on April 9th for a hybrid corporate roundtable on the topic of ‘Managing Social Impact: What’s Measured Can Be Managed.”  

The event was held at Dream Impact’s ESG Lab in central Hong Kong, and the discussion centred on the benefits of leveraging strategic frameworks such as B4SI, to align business goals with social impact objectives. This alignment is important for achieving sustainable positive impacts for local communities which are linked to the business strategy.  

Throughout the discussion, participants emphasised the need for robust measurement systems for application by business, and frameworks like B4SI are useful for identifying change indicators and establishing quantitative and qualitative assessments to capture positive societal impact, ensuring accurate reporting and effective management of social impact strategies. 

One of the session highlights was a presentation by Hongkong & Shanghai Hotels, who shared insights into the successes and challenge areas of their social impact initiatives. This presentation was complemented by a case study demonstration of the application of the B4SI framework to these initiatives, providing a practical demonstration of how the framework can be effectively used to measure, manage and report the positive changes of corporate social responsibility efforts on people, community organisations and the business itself. By using real-world examples, B4SI highlighted the framework’s ability to enhance strategic alignment and improve impact assessment, proving it to be an invaluable tool for companies looking to optimise their social impact and refine their reporting processes aligned to the global standard. 

During the session, Dream Impact also showcased their capability in providing tailored social impact solutions to companies in Hong Kong, highlighting the complementarity of their services to B4SI member companies engaged with the B4SI global network, and applying the social impact framework and management resources.  

This collaborative event underscored the importance of frameworks like B4SI in providing the tools necessary for companies to not only report but effectively manage their social impact strategies. The B4SI framework plays a pivotal role in helping companies to structure their efforts systematically, making it possible to track progress, learn from experiences, and make informed decisions that benefit both the company and wider society. This robust approach to social impact is what makes B4SI a leader in the field, and its application during the roundtable provided practical insights into its versatility and effectiveness. 

We look forward to our continued collaboration with Dream Impact in Hong Kong and to expanding the use of B4SI across the APAC region. We welcome any corporate interested in learning more about B4SI, to reach out to us directly for a meeting to learn more. Contact us on: b4si@corporate-citizenship.com