Mirova Research Center (MRC) is proud to be a partner of a new collaborative initiative led by AFNOR and ESSEC Business School, aimed at developing a French standard on the rigor of social impact measurement.
At a time when social impact has become a central component of organizations’ strategies, this project responds to a growing need for clarity, comparability and credibility in the way social impact is measured and communicated.
A collective initiative supported by leading organizations
The project is financed through a collective sponsorship model, with a total budget of €80,000.
The Mirova Research Center contributes to this standard, alongside three other partners: Orange and , MAIF
Beyond financial support, partners are fully involved in the work through their participation in the working group, ensuring that the future standard is firmly grounded in practical experience and real‑world constraints.
Active involvement in the working group
The working group is jointly led by ESSEC, through its Evaluation & Measurement of Social and Environmental Impact Laboratory (E&MISE), under the direction of Elise Leclerc, and by AFNOR, the French national standardization body.
Mirova Research Center takes part in the working group’s discussions and contributes actively to the co‑construction of the standard. While represented directly by one participant, this involvement is supported by regular internal exchanges within Mirova, allowing insights from the group to be shared internally and, conversely, broader perspectives from Mirova’s teams to enrich the collective work.
Towards a shared language on methodological rigor
The objective of the working group is not to define what impact organizations should generate, but how rigorously social impact is measured.
The future standard will focus on:
- defining quality criteria for social impact measurement methodologies,
- establishing a common language to assess methodological robustness,
- improving the transparency and credibility of impact claims,
- and supporting organizations in integrating social impact measurement into their strategic management.
By setting clear methodological benchmarks, the initiative also aims to reduce the risk of impact‑washing and to strengthen trust among investors, funders and other stakeholders.
A national reference document, with longer‑term perspectives
The main deliverable of the project will be an experimental standard, published by AFNOR and developed through a consensus‑based process over a period of 12 to 18 months.
This standard is designed to complement existing national and international frameworks on impact measurement and ESG topics. While the current focus is on establishing a robust French reference, discussions may later explore the possibility of scaling the initiative at European level, depending on stakeholder interest and uptake.
Why this initiative matters for MRC ?
As a long‑standing actor in sustainable finance and impact investing, Mirova considers robust impact measurement as a key condition for aligning financial activities with real‑world outcomes.
By supporting and contributing to this initiative, Mirova Research Center seeks to:
- foster higher standards of rigor and transparency in social impact measurement,
- bridge academic research, standard‑setting and practitioner experience,
- and contribute to the structuring of impact measurement as a strategic management tool, rather than a one‑off reporting exercise.
One of the key challenges in social impact measurement lies in the diversity of practices. While this diversity is valuable, it raises important questions of comparability-across indicators, methodologies, and their robustness. This standard aims to clarify key definitions and provide a framework for conducting rigorous social impact measurement while remaining grounded in real-world contexts.
Axelle Guers
PhD Student