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What is Social Impact?

Social impact refers to the effect of an organization’s actions on the well-being of the community and society at large. Positive social impact includes initiatives that promote education, health, economic development, and equality. Businesses and nonprofits often measure their social impact to ensure their activities contribute to societal good. Social impact assessment helps organizations to understand and enhance their contributions to society. It is a critical component of CSR and ESG frameworks.

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