To evaluate the social return on strategic community investments for a mining client.
Companies around the world engage in community investment (CI) efforts as a way to promote local development and benefit stakeholders in their areas of operations. For the private sector, effective community investment programs can help companies gain a social license to operate, access land, reduce project and reputational risks, boost productivity, meet government requirements or global standards, and/or successfully compete for the next venture.
The difference between donations, philanthropy and typical infrastructure projects and strategic community investment is identifying appropriate baseline factors and conducting a robust needs assessment to inform your entire community investment strategy. The social impact benefit and return on a community investment has compounding effects when approached strategically, as a “hand-up” versus “handout” investment.
MacCormick collected and assessed the baseline and needs of the local community to establish a foundation for the community investment plan for further investment in accordance with World Bank and IFC standards.
Score card concepts and tools were developed for ease of implementation and training around the objectives for each program complete with tracking KPI criteria for reporting purposes – Inputs, Outputs and Impacts.
MacCormick was engaged for 6 months in 2013-2014 on this project as a part of a larger mandate with this client.
MacCormick’s corporate team worked with its in-country consultants and the client’s CR team to complete this project.
MacCormick’s work enabled the client to make informed decisions about where to best spend their community investment dollars for the greatest social return. The client now has policies, procedures, custom records, KPIs, and a reporting framework to track all of its decisions and program investment impacts and outcomes for reporting purposes and to engender continuous improvement.