The new Positive Impact Rating (PIR) 2024 Report reveals the top business schools making progress towards positive societal impact by focusing on issues such as sustainability, ethics, inclusion, and diversity.
Launched earlier this month at the UN PRME Global Forum, the fifth edition of the PIR report features 77 schools in 30 countries across five continents with more than 15,000 student responses assessing their business school’s social impact.
Student voices were central to PIR’s methodology, with a 19% increase in student engagement compared to last year. The survey asked 20 questions across seven impact dimensions: school governance and culture, study programs, learning methods, student support, the institution as a role model, and public engagement. The resulting PIR score was categorized into one of five levels of impact.
“We don’t just measure impact at the Positive Impact Rating, we empower schools to achieve impact excellence,” said Katrin Muff, president of the PIR Association. “The PIR helps business schools become leaders in positive change, graduating leaders who can build a better tomorrow.”
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Best business schools for social impact
The PIR report rated just six business schools at the highest impact Level of 5—down slightly from last year’s seven schools—whilst 43 schools earned a Level 4 rating, and 28 scored at Level 3.
The Level 5 rated schools, labeled the ‘Pioneering Schools’, include Centrum PUCP Business School (Peru), Indian Institute of Management (IIM) Bangalore (India), IIM Indore (India), INCAE Business School (Costa Rica), SP Jain Institute of Management & Research (India), and Woxsen University School of Business (India).
The Level 4 schools, named the ‘Transforming Schools’, make up the majority of the rated universities, spanning Europe (21), North America (13), Asia (6) and Africa (3). Notable universities from this list include Imperial College Business School in the UK, Antwerp Management School in Belgium, and Concordia University’s John Molson School of Business in Canada.
IESEG School of Management in France was also among the Level 4 rated schools. “At IESEG, sustainability is a core value,” said the school's social and environmental impact director, Maria Castillo.
Castillo emphasized that a strong foundation in sustainability enhances the experience of all campus members: “PIR provided a valuable framework to help us develop a comprehensive program that empowers every member of our IESEG community with the same foundational knowledge for a unified approach to sustainability.”
Among the Level 3 rated schools, known as the ‘Progressing Schools’, 22 are from Europe, including ESADE Business School in Spain, five from North America, such as the University of Western Ontario’s Ivey Business School in Canada, and one from Asia—the British College in Nepal.
Check out the full list of the best business schools for social impact
Business schools in Asia continue to lead the world in social impact
The average PIR score across all rated schools in 2024 was 7.7 on a 10-point scale, remaining steady over the last three years. Regionally, Asia achieved the highest average score of 8.4, followed by North America and Southern Europe at 7.5, and Western Europe at 7.2.
Following the same trend as last year, countries such as India are making strides towards social impact.
Students continue to shape the future of social impact
Common themes emerged from the students’ survey responses on how they wanted their business schools to adapt. These included further fostering of diversity and inclusion amongst students and faculty, expanding practical learning with real world projects and local partnerships, deepening sustainability across the entire curriculum, and improving transparency and student involvement in school decisions.
Additionally, the report revealed students want their b-schools to stop using single-use plastics and paper on campus, abandon outdated, lecture-based teaching methods, reduce their focus on theoretical knowledge, cease investing or partnering with unethical companies, and, finally, stop ignoring student feedback and prioritizing profit-driven education over student and environmental wellbeing.
“Surveys can often feel like a relic of the past,” said Sankar Venkataraman Murali, a student at Imperial College Business School in London. “But the PIR Survey has reshaped my view. Unlike traditional rankings, PIR aligns with the UN Sustainable Development Goals, promoting education that shapes responsible leaders dedicated to making a real difference.”
“By participating, schools gain more than a badge of honor; they stand out as beacons of sustainability and societal impact, attracting purpose-driven students and partners,” he added.
