In an attempt to measure the impact of our corporate engagements on any given issue, ICCR developed the Hierarchy of Impact framework to track company progress towards our stated goals.
Time frames for achieving each of these goals is also accounted for and may vary by company. Each of the below benchmarks are further translated into more specific criteria or key performance indicators by issue. It is important to note that investors expect management to publicly report along each step of the hierarchy.
Benchmark 1: Company acknowledges importance of issue
Benchmark 2: Company adopts policy to address the issue
Benchmark 3: Company begins to implement policy with programs/plans, goals and targets
Benchmark 4: Company develops metrics, starts measuring and disclosing information
Benchmark 5: Company benchmarks its progress against others in industry/sector
Benchmark 6: Company conducts independent verification of its data and operations
Benchmark 7: Company’s strategic focus leads to demonstrable positive impact
Benchmark 8: ICCR publically or privately acknowledges company’s progress