Assessing your Total Impact

Does your business create value for society or destroy it? Do your strategic decisions take into account wider societal impact?

Today, business success cannot be achieved through a narrow focus on short term shareholder return. Companies that want to excel need to understand how their actions contribute to Good Growth: growth that is real, inclusive, responsible and lasting.

Placing a value on how your business impacts the economy, the environment, and wider society is as important as calculating financial return. Altogether, this measures the total impact your business has on society and provides the information you need to navigate today’s operating environment.

We believe a total impact approach to making strategic decisions provides the holistic perspective a business needs to understand risk, identify opportunities, and optimise its contribution to society. In 2010, PwC started developing our Total Impact Measurement and Management (TIMM) framework, using the latest thinking together with well established approaches. Since then we have worked with our clients, academics and other experts to refine the TIMM framework, which is now recognised as a leading approach to identify, measure and value impact.

By valuing social, environmental, and economic impacts, business leaders are now able to compare the total impacts of their strategies and investment choices. By managing the trade-offs, they’re able to identify the optimal decisions for their business and their stakeholders.

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How we can help you

Impact Explorer

PwC’s Impact Explorer puts a value on the societal impacts of your business.

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Social Impact

Measure and value the effect your business activities have on society, such as on the skills, livelihoods and health of your employees, customers and local communities.

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Environmental Impact

Puts a value on the impact business has an on natural capital eg. emissions to air, land and water, and the use of natural resources.

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Tax Impact

Values a business' contribution to the public finances, including taxes on profits, people, production and property, as well as environmental taxes.

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Economic Impact

Measures the effect of business activity on the economy in a given area, by measuring changes in economic growth and associated changes in employment.

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Case Studies

Traditional financial metrics don’t present the whole story about a business. Using the TIMM methodology to create an EP&L, Kering Group has quantified and monetised its environmental impact across its entire supply chain, right across the Group. It can now consider sustainability criteria alongside price and quality in its sourcing decisions.

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We worked with SHE Transmission, part of SSE Plc’s electricity networks business, to help them understand the impacts associated with building a transmission line.

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PwC, The Travel Foundation and TUI Group completed ground breaking work to understand the total impact of 60,000 holidaymakers visiting 8 TUI Group hotels during 2013 in Cyprus using PwC's Total Impact Measurement and Management (TIMM) framework. It’s driven the development of new methodology to share with the tourism industry.

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For the fifth year, we’ve used the Total Impact Measurement and Management framework to monetise our own economic, tax, social and environmental impacts.

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When you’re competing on price, how do you demonstrate that you deliver the best value? Proving how much value you add could help to differentiate yourself to your customers, investors or funders. St Giles Trust used PwC’s Total Impact Measurement & Management (TIMM) to put a value on their contribution to society and the economy to inform their discussions with stakeholders.

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Insights

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Tom Beagent

Director

Tel: +44 (0)7973 565380

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Mark Ambler

Director

Tel: +44 (0)7740 023383

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Will Evison

Director, Sustainable Value Creation

Tel: +44 (0)7718 864854

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