Why is LBG changing?
Business for Societal Impact (formerly known as LBG) is the globally recognised methodology used by hundreds of the world’s leading companies to articulate and measure the positive impact they have in the world. The B4SI Framework currently underpins the Community & Philanthropy question in the DJSI questionnaire, is reflected in the GRI standard and is recognised by the UN Global Compact as evidence for a company’s social impact narrative to stakeholders.
The seismic events of 2020 such as Covid-19 and the Black Lives Matter movement have accelerated stakeholder expectations for companies to play a leading role in creating a more inclusive and robust society. The ‘s’ in ESG has become more important along with the rise of the shared value model.
Which is why B4SI’s transformation to provide a holistic management model is timely. Based on the pillars of plan, implement, measure, report & engage, businesses will be further enabled to authentically become a business for societal impact. These changes include the expanded framework, additional management tools with a new name to more accurately reflect the global reach and wider supports available.
THE B4SI FRAMEWORK
A simple and consistent measurement that underpins and is recognized by global reporting organisations.
Expanded framework for the ambitious
In addition to community investment, network companies can access the expanded Frameworks to develop and measure programmes against ‘Business Innovation for Social Impact’ and Procurement for Social Impact’. These two new routes recognise the increasing demand for companies seeking to create social impact whilst also meeting their commercial objectives.
3 ROUTES TO IMPACT
Tools for better management and implementation
To complement the expanded framework, we are excited to be launching in 2021 a newly developed self-assessment tool, to help our members understand where they are in their journey towards societal impact. This tool provides a practical route to assist in the process of formulation, implementation, management, reporting & review of societal impact across their business.
We welcome you to watch a short animation, which brings the tool, and the practitioner experience with the tool, to life.
Added value for our global clients now includes a private community investment benchmark annually. In future, companies will have the chance to benchmark Social Innovation & Procurement data against other companies in the network to facilitate continual improvement and improved impact.
A new name fit for purpose
In parallel to the above changes, on Jan 1, 2021 the name, London Benchmarking Group (LBG), changed to Business for Societal Impact. The new name and logo better reflect the changing nature of business involvement in society and the increasing global footprint of the network.
Thinking behind the logo
The use of the bold upper-case logo type was chosen to be brave and forthright, reflecting the ambition of our network. The logo mark itself, reminiscent of a global footprint, or fingerprint, demonstrates the ripple effect that business can have within society. The use of clear demonstrable elements, the smaller pieces that make up the whole, signifies both data elements as well unity of businesses or organisations to make a greater whole.
All of these developments will help ensure that those ambitious to create real and lasting change now have the most robust management model and practical tools to evidence their impact in society.
“It’s fitting that our clients have inputted into the developments of the Framework and the new set of tools and supports we are bringing forward. Naturally changing a globally recognised brand is a huge undertaking, but the time is right to accurately reflect what we do, what we provide and where we operate with a new name. Business for Societal Impact has been in development for close to two years, and the time is now right to for us to move forward as a global network with a new name”
Clodagh Connolly, Director, Corporate Citizenship
“We know that our members expect us to provide leading edge support under a credible and powerful brand. The Steering Group is confident that these changes will see the network grow in impact, in knowledge and in coverage, each of which will cement B4SI’s place as the most influential tool for these most critical years to come.”
Matt Sparkes, Global Head of Sustainability, Linklaters and EMEA B4SI Chair
Please note that your existing account manager remains your key point of contact.
We’re a global company – do you have offices in our region?
We have a global presence, with offices in London, Melbourne, New York, San Francisco, Santiago and Singapore. We can provide expert support from any of these locations.
How can I get hold of the new framework and tools?
Please contact your account manager, who can give you access to the new framework, tools and support. If you do not have an account manager and would like to speak to us about accessing our expert support, please contact us on LBG@corporate-citizenship.com
What is the cost of membership?
Contact us on email at LBG@Corporate-citizenship and we will be happy to chat with you on what access to our tools and expert support costs.
Has the fee increased as a result of these changes?
Client fees will not change in 2020, and all clients will be informed of any changes to fees.
How do I access the new logo?
The new logo will be available via download from the site from 01.01.2021.