Wealth & Income Creation

Wealth and income creation through business activities is one of the most significant contributions organisations make to community development.

ISO 26000 emphasises that organisations should consider the economic and social impacts of their operations on local communities, including through employment, procurement, tax payments, and investment. Key mechanisms include local procurement and supplier development programmes, support for micro, small, and medium enterprises (MSMEs), financial inclusion initiatives (microfinance, savings groups, financial literacy), fair trade and equitable supply chain practices, responsible tax practices that contribute to public revenues, and investment in local infrastructure and services. GRI 201 (Economic Performance) requires disclosure of direct economic value generated and distributed, including revenues, operating costs, employee wages, payments to providers of capital, payments to government, and community investments.

Further Reading

• ISO 26000 — Community involvement guidance
• GRI Standards — Community-related disclosures

Related Topics

• Community Involvement & Development
• Social Investment
• SDG 1: No Poverty