The Shared Value Project is delighted to announce our newest member, LBG Australia and New Zealand.
LBG is the global standard for measuring and benchmarking corporate community investment. The LBG model provides a comprehensive and consistent set of measures for corporate community investment professionals to determine their organisation’s contribution to the community, including cash, time and in-kind donations, as well as management costs. The model also captures the outputs and longer-term impacts of community investment projects on society and the business itself.
More than 300 companies around the world use the LBG framework to measure, manage and report the value, and the achievements, of the contributions they make.
It takes its name from the London Benchmarking Group; the group of UK-based companies who worked together to develop the model in 1994. The LBG model was introduced to Australia and New Zealand in 2005 and has since grown to around 50 members.
Measurement is an extremely important component to the shared value concept. It is garnering an increasing amount interest and experimentation as companies seek to present the results and outcomes of their shared value initiatives in a coherent and accountable manner.
Hence with LBG being such a specialised mechanism for measurement we see them as an important part of the shared value landscape in Australia and look forward to having them as part of our membership base.
To find more about LBG Australia & New Zealand and the LBG model click here.