During 2019, we embarked on a journey to articulate our strategy regarding impact, made possible through Technical Assistance funding from Swedfund. Although impact is at the core of what we do, and all our activities are guided by a desire to maximize positive impact for society and the environment, we recognized the value of establishing a specific strategy to outline our intentions regarding impact, as well as what we need to do to achieve these.
The drivers for our focus on impact are both internal and external. From an internal perspective, a mission to accelerate social inclusion and economic and environmental sustainability is at our core, making the achievement of impact a fundamental part of what we aim to do. One of the key external drivers for increasing our intentionality in the management and measurement of impact is the growing expectation amongst our funders and other market stakeholders, particularly DFIs. The ongoing growth and developments in the impact space mean that we need to remain up to date with best practice and ensure that our own practices reflect this. The third key driver for embedding impact into the work that we do is the recognition that we carry out our work in what are largely underserved communities, which require that we are focused and proactive in the ways that we engage with these communities, ensuring that we drive impactful initiatives that are relevant, and support the growing acceptance of our work amongst a broad range of stakeholders.
JCM has undertaken a rigorous impact mapping process to identify our impact objectives. This process began with a visioning exercise to capture our impact aspirations as a company and map out what was feasible in terms of the impact that we can contribute to through our core business operations and our socioeconomic development programs. Thereafter, we undertook an investor-level analysis to identify the key impact objectives of investors. Finally, we cross-referenced our findings with the SDGs to determine which SDGs (and specific targets) we can effectively contribute to. Through this process, we identified the following key impact objectives for JCM:
Integrating our impact strategy into our daily work is a complex and nuanced process. In light of this, we recognize that certain business drivers need to be leveraged effectively in order for this to take place. These drivers are outlined in the diagram below:
We are energized at the opportunity to continue driving impact through the Impact Management and Measurement Framework which we have established and look forward to sharing feedback with our stakeholders on an ongoing basis.