Monitor your impact
To make an impact, you have to monitor your impact. Defining sustainable KPIs to monitor, evaluate and report is a necessity to know how effective and efficient you are. Just like other goals and KPIs.
However, there’s one difference: as there are much more stakeholders than shareholders, the audience for the KPIs is bigger. Stakeholders can even play a role in evaluating KPIs via stakeholder dialogue, for instance through stakeholder feedback or interviews.
Quantitative & qualitative
Indicators are preferably clear, informative, practical, comparable, reliable and credible. At the same time it is pretty hard to quantify every issue or topic.
How do you quantify child labour or human rights infringements? Qualitative statements or trends can close this gap, as sustainability is more than specific results in measurable activities.
Keep making progress
Another aspect is that (keep) making progress might even be more important than achieving an absolute standard. This progress can be reported and once the finish is in sight, new goals have to be determined to keep learning and improving. Reporting on learnings can be a very valuable way of sharing results that others can use.