Commitment to social performance starts at the top. A social strategy is only strong if the Board and senior management understand and uphold it. In order for social performance to be fully embedded in the organization, the governing bodies and senior leadership must build it into the organization’s plans and accountability structures. The governance and management should be clear, committed and incentivized to achieve the provider’s social objectives. Dimension 2 lays out the key practices that leadership should make a standard part of operations and decision-making.

Client protection is the minimum standard for all responsible financial service providers. The standards in this dimension ensure that the financial institution has the practices and systems in place to prevent harm to their clients, while those clients access and utilize their financial and non-financial services. Institutions that seek to create benefits in their clients’ lives must first ensure that they do no harm, and it’s their responsibility to prevent it.  

Dimension 6’s standards and guidance start from the premise that, as a social enterprise, an institution’s financial decisions and results should reflect their social goals. As with other social enterprises, striking the right balance is key. As financial institutions grow and take on new funders who may have a different priorities or strike a different balance, it is very important for the financial service provider to have institutionalized policies and practices that support its own balance. The 3 primary areas of focus in this dimension are responsibly managing growth, setting prices and using profits to achieve long-term sustainability while achieving social goals.