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Polaris Impact Assessment (PIA) on Sustainability

Customers, employees and all stakeholders are demanding businesses be accountable for their environmental footprint, employee welfare and community well-being. They all insist that business be more transparent and report their impacts.

In response, companies are becoming more aware of environmental, social and governance (ESG) challenges and start to measure and publish their impacts. With our focus on values and care for future generations, Family Businesses are well placed to be responsible stewards of people, planet and capital.
 
Yet recent studies indicate that listed Family Businesses perform significantly worse than non-family firms on all ESG dimensions.  The data indicates that family firms are less transparent, provide fewer employee benefits and lack environmental policies. Many choose not to share information/sustainability reports.
 
Unfortunately, this lack of transparency leads to the perception that family businesses lag behind non-family businesses in terms of sustainability and CSR.
 
The Polaris Movement
FBNi aspires to redefine this narrative of family business. It is time to spread the word about the positive impacts we are creating in our communities and beyond. As such FBN is partnering with  Oxford Business School to examine the relationship between purposeful ownership, corporate performance and positive impacts. More background information
 
We urge all FBN Members to contribute to this valuable project which has the potential to position Family Businesses as a beacon for responsible business. 
 
MEASURE YOUR IMPACT: THE POLARIS IMPACT ASSESSMENT 
 
To enable Family Business to measure and improve their sustainability practices, FBN has developed the Polaris Impact Assessment (PIA).  Information below allowing you to measure your sustainability practices in terms of family governance, HR and environmental policy.

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.

Studies have shown that companies that have sustainability at its core attract talent, build credibility and outperform competitors.  Join fellow FBN members in accelerating your journey by taking these four steps.

It takes some time but as FBN member, you need only to answer as many questions as you can or to complete up to page 7 to participate and get your custom report. THIS MUST BE DONE ONLINE.
 
Please find the blank test assessment in order to see all the questions in advance. (You might need the assistance of members of your family/your management for some questions).
 
If you have any problem, do not hesitate to contact Caroline Seow who could assist you. Jennifer Muntz is a member of the Polaris Committee, please contact her if you have questions at 630-936-3096 or [email protected]
 
If you do 75% of the Polaris Impact Assessment, you will be eligible to receive a customized performance report benchmarking you with your peers. 



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