Application of Product Social Impact Assessment at portfolio level
Main Presenter: Ana Morao
Co-Authors: Elizabeth Musoke-Flores Rosan Harmens Mark Goedkoop Diana Visser
Social metrics are gaining relevance for organizations striving to make credible and meaningful impact on sustainable development. The development and application of social metrics guidance and tools is needed, also in the view of future reporting requirements, such as the EU taxonomy. There are methodologies developed for companies to measure their social impact following a life cycle thinking approach product, such as The Handbook for Product Social Impact Assessment (PSIA) . The Handbook for PSIA has been successfully applied in last years by many companies. However, for organizations with large product portfolios, complex supply chains and many manufacturing locations, applying the PSIA at portfolio level, rather than at product level, can provide benefits such as:
- Reducing the complexity of the assessment therefore reducing the workload
- Improving the robustness, comparability and credibility of the results by applying a consistent methodology and data sources. Ensuring consistent communication of results.
- Steer portfolio for growth on product groups with positive social impacts
In this presentation we will describe the framework developed by Corbion to apply the PSIA methodology at portfolio level and illustrate its application for a segment of the portfolio. Highlighted elements of this framework include:
- Sourcing region and mapping of the value chain. As an example, the same supplier is often part of the value chain of multiple products manufactured in the same region and the data collected can be reused.
- Definition of product groups based on the products application. In the case of Corbion the product groups are linked to the internal definitions of impact categories linked to the sustainable development goals (SDGs) .
- Structured data collection approach with preferential use of verified data sources already available in the company.
- Communication for different stakeholder groups