Measure, Benchmark, Improve your Impact
The Polaris Impact Assessment
To enable Family Businesses on their impact journey, FBN has developed the Polaris Impact Assessment (PIA) to help you measure, benchmark and improve your sustainability practices
The PIA is a version of B Lab's Impact Assessment that has been specifically customized for family businesses. The standard version of the B Lab assessment is well-established globally having been taken by over 50,000 companies in over 60 countries to drive sustainability performance and improve positive impacts in areas of governance, community, employees and the environment.
Studies have shown that companies that have sustainability at their core attract talent, build credibility and outperform competitors. Join fellow FBN members in accelerating your journey by taking these three steps.
Overview of Family Business Impact Performance
FBN Members across a myriad of industries and geographies have taken the PIA. Through aggregated data collected to date, FBN members are outperforming a global benchmark of over 50,000 companies in a number of categories.
When looking at overall performance, FBN members outperform their peers on 63.2% of the questions, perform on par on 23.4% of them, and below average on 13.4% of them. These results are especially significant as the benchmark represents a responsible group of businesses that have chosen to voluntarily report their sustainability performance.
The chart below is a snapshot of how family businesses are performing in specific areas of sustainability. While there is considerable progress in some areas e.g. Environmental Management Systems, Supplier Code of Conduct, family businesses also have room to improve their impacts.
Source: B Analytics Platform, Sept 2019
For more data and analytics, please see Polaris – Redefining Success Across Generations p12
Identify SDGs most relevant for your family Business and learn how you can contribute to and lead responsible capitalism
The PIA is your introduction to B Lab’s SDG Action Manager. Your PIA responses are automatically captured and aligned to the relevant SDGs. Developed in partnership with the UN global compact, the SDG action manager will enable you to :
- Get a clear view of how your family business operations, supply chain, and business model create positive impact
- Identify areas of risk and opportunities aligned with the UN Sustainable Development Goals
- Take action and track progress towards the Sustainable Development Goals
- Join a global movement of companies working to build a better world by 2030.