A social impact statement is a written explanation by an organization of how its activities impact the communities within which it operates. The statement is focused on the social and environmental impact of the firm. The following topics are examples of what might be included in the statement:
- Hours of volunteer time by company employees
- Donations made to local communities and charities
- The number of jobs created in the local area
- Environmental remediation efforts conducted in the area
- The use of renewable energy to power operations
- Minimal use of landfills
Organizations use social impact statements to make a better impression among stakeholders, rather than conveying the image of just being focused on profit-making. These statements may be distributed through multiple channels, such as the annual report, company website, and press releases.