Many companies have started to assess their product portfolios focussing on environmental impacts, Now they broaden their scope by adding the social dimension.
Our member company DSM explicitly states how they see the business value generated from understanding and addressing sustainability issues. The key DSM sustainability drivers are represented by their “purpose-led, performance driven” strategy and their sustainability portfolio steering Brighter Living Solutions, which is measured based on a product life cycle approach, for both social and environmental. By focussing on innovations to develop solutions, significant business growth can be achieved, as illustrated with the figure below:
This ambition can only be realised if the organisation is very competent and efficient in understanding these megatrends and translating this into attractive proposals to their clients. This is where the implementation of product social impact assessment comes in. The DSM People plus method is largely compliant with the Framework for PSIA. DSM has been contributing to the Methodology over the last 7 years and is currently a Core Partner.
You can find more on Steering Product Portfolio, the Implementation Guide, where we also discuss the WBCSD Portfolio Sustainability Assessment approach, using the PARC (Product Application Region Combination) concept.
Source: Framework for Portfolio Sustainability (PSA), WBCSD, October 2017[ and Social Life Cycle Metrics for Chemical Products, WBCSD, November 2016