The Group of Eight (G8) refers to the group of eight highly industrialized nations – France, Germany, Italy, the United Kingdom, Japan, the United States, Canada, and Russia—that hold an annual meeting-summit lasts for two days- to foster consensus on global issues like economic growth and crisis management, global security, energy, and terrorism. The Working Group Under the direction of the Social Impact Investment Taskforce, the Impact Measurement Working Group was established, consisting of 24 impact investing and measurement practitioners.
The Working Group has identified four broad phases of impact measurement: Plan, Do, Assess and Review. In addition, the Working Group has identified seven widely accepted activity guidelines which provide participants with a blueprint for the effective definition, collection and analysis of impact data. Implementation of these guidelines will be unique to every organization, as they are likely to have their own measurement goals, resource constraints, and stakeholders to consider.
If you want to learn more about this, read the full article, where you can download free Impact Measurement Guidelines: https://www.i2sustainit.eu/blog/what-is-the-g8-what-does-it-do-and-how-does-it-relate-to-social-impact