Standards Matter

Last month, LBG Canada members participated in the annual Valuation Vote—annual process that guides the ongoing evolution of Canada’s Community Investment Reporting Standard. Since its inception in 2005, this collaborative process supports consistent, credible, and transparent community investment reporting in Canada.

Why Collaboration Matters

The Valuation Vote brings together a diverse group of companies to collectively define and standardize what is eligible as community investments and what is not. This ensures consistency, transparency, and fairness across industries and geographies. Members share insights, challenge assumptions, and refine practical, actionable definitions grounded in real-world experience.

This collaboration helps produce clear community investment definitions that companies can utilize to guide decision-making around their CI efforts. With a clear understanding of what is CI, companies can have the resource they need to drive greater strategic alignment with both business goals and community needs.

Empowering Companies and Building Trust

Clear, consensus-driven definitions around what is eligible as CI, allows companies to allocate resources effectively. This ensures their investments address their community impact goals. Transparent reporting builds credibility, strengthens stakeholder trust, and reinforces the integrity of community investment efforts across the network.

Beyond the Vote: Strengthening a Community of Practice

The Valuation Vote is more than a procedural step—it reflects a shared commitment to standards and collaboration. By engaging in this process, companies contribute to a dynamic network of companies to ensure that the definition of community investment remains relevant and meaningful.

While the Valuation Vote itself has concluded, LBG Canada companies continue to innovate and explore new ways to invest in their communities. As companies adopt more creative and strategic approaches, SiMPACT, the facilitator of the LBG Canada program, supports these efforts by helping them interpret audit principles and apply these insights to their internal decision-making processes.

Throughout the year, SiMPACT works with companies to interpret audit principles and apply these insights to guide internal discussions, such as determining which budgets fund specific investments. By aligning their efforts with these principles, companies can ensure their investments have greater impact.

Contact us to learn more about how SiMPACT can support your company’s community investment efforts.