The impact into how local companies can better evaluate the value of their community investment was the topic addressed at the Durrell Wildlife Conservation Trust’s annual Business Breakfast Seminar, held last week.
Sponsored for the fifth year by RBC Wealth Management, the seminar, entitled ‘Measuring Corporate Community Investment’ was an opportunity for Jersey companies to understand the impact their contribution to the local community was making.
Delegates heard from keynote speaker, Jon Lloyd, Head of the London Benchmarking Group (LBG), who highlighted how “healthy businesses need healthy communities”.
While Paul Masterton, Chief Executive Officer, at Durrell Wildlife Conservation Trust, noted that the level of support in Jersey for arts, sports and charity projects was phenomenal and something the Island should be proud of, it was agreed that better systems needed to be put in place to measure the impact of big business on the community.
Mr Lloyd said: ‘There needs to be a consistent approach to measurement, along with greater knowledge of what contributions have been made; what that contribution is supporting as well as who would benefit from it, and how, finally, did that compare to other projects?
‘I believe this will allow for better management of corporate community initiatives, by delivering information, which would allow businesses to understand the challenges as well as the successes.’
Francis Binney, Environmental Officer at RBC Wealth Management outlined the approach that RBC takes to measuring community investment: ‘At RBC, we take our responsibilities towards the communities in which we work very seriously. We have reported our environmental and social footprints with the same weighting as our financial figures since 2007. This ability to analyse our overall CR spend and its real impact with staff, clients and community allows us to understand the value achieved through each of our social and environmental initiatives.’