The Pearl Initiative, a business-led non-profit organisation promoting corporate accountability in the Gulf region’s private sector, organized a hybrid workshop in partnership with Philanthropy Age on “The Principles of Impact Measurement”. The event convened 30CSR representatives of large companies and philanthropists from various private foundations as well as international NGOs and multilateral institutions, such as Accenture; ENOC; NAMA Women Advancement; and the World Bank, to discuss effective strategies that corporates and foundations can adopt in ensuring maximum impact in their philanthropic, social, and environmental initiatives.

The workshop introduced participants to the basics of impact measurement, provided them with a deeper understanding of impact strategy and impact metrics, shared key best practices,and presented practical examples on how to undertake impact measurement in a challenging context through live case studies.

The workshop facilitator, Justin Sykes, Managing Director of Innovest Advisory, a UK-based organisation specialising in impact measurement and impact investment for institutional donors, commented, “It was great to witness the participants immerse themselves in thought-provoking conversations on developing impact measurement strategies which could further their ability to measure and manage the impact of their respective organisations.”

The workshop helped foster a deeper understanding of impact strategy and measurement through breakout case study sessions, which gave participants the opportunity to produce their own mini-impact strategy for fictious project scenarios on the themes of “Road Safety”, “Urban Planning”, and “Female Entrepreneurship”.It also laid a greater emphasis on moving away from ‘traditional methods’ of monitoring and evaluating impact programmes to incorporating data-driven‘best-in-class’ approaches that are focused on and co-designed with the beneficiary. The session also showcased the various impact measurement tools and their applications in real life and the importance of making the distinction between outcome, output, and impact.

Ranya Saadawi, Executive Director of the Pearl Initiative, said, “With the global impact investing market valued at $715 billion, there stems a growing need for both investors and CSR departments and foundations to measure the impact of their interventions for investors and stakeholders alike. The workshops facilitated by the Pearl Initiative’s Governance in Philanthropy Programme provide significant learning and development opportunities for Gulfregion’s donors on ways of streamlining equitable approaches to designing and implementing impact strategies and impact measurement tools, paving the way for more philanthropic initiatives in the region.”

In 2021, the Pearl Initiative launched the Circle, in collaboration with Philanthropy Age,establishing a community of philanthropic donors to spearhead the drive for greater transparency, accountability, and trust in giving across the Gulf region. The Pearl Initiative’s Governance in Philanthropy programme will curate a number of events in the coming year equipping corporate and individual donors with strategic guidance to better inform, educate and implement more robust governance practices in philanthropy. In addition, bespoke resources and guides on impactful giving can be found on the recently launched online platform. Visit www.circlemena.org to learn more.