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"We have reached some kind of tipping point in terms of awareness, understanding, and measurement," says Chris White, author of the Social Value Act that came into effect in England and Wales in 2012.
The act requires public sector commissioners to consider how procurement decisions could improve the economy, social, and environmental well-being of a specific area.
Since January 2021, every central government department must "explicitly evaluate social value when procuring services, not just 'consider' it," reports the Pioneer.
Social enterprises see it as an opportunity to win more public sector contracts, as well as a push towards encouraging the wider business community to act more ethically.
"If there are any naysayers, their days are over," says Darren Knowd, chair of the National Social Value Taskforce.
"This little act, I think it's transformed the relationship between the public and private sector," says Guy Battle, CEO of the Social Value Portal.
"It's impossible for businesses to win work unless it has a social value offer."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
The Green Climate Fund is the world's biggest dedicated fund designed to help developing countries mitigate and adapt to climate changeand it's looking for new investments. Henry Gonzalez, the...more
Two of the world's biggest financial institutions have come together to call for an end to plastic pollution. In a joint statement, Triodos Bank and Triodos Investment Management say it's...more
For two days in March, music fans gathered in Phoenix's Steele Indian School Park for the McDowell Mountain Music Festival, which featured electronic dance music (EDM), R&B, and indie rock. But...more
"I was working in corporate America for one of the world's largest retail companies, and it was challenging and wonderful in many ways. But I was finding my truest fulfillment on Saturday...more
It's a sign of the times: A real estate research firm has been bought by a private equity firm in a deal that values the company at more than $1 billion. The New York Times reports on GRESB's...more
"The climate time-bomb is ticking. We need to seize the opportunity to invest in credible innovations that can contribute to reaching our global targets," UN Secretary-General Ant ? nio Guterres...more
"The urgency of the climate crisis demands innovative discoveries in research and the seamless integration of these solutions into our daily lives," Erica Smithwick, director of Penn State's Climate...more
Matt Damon and Gary White are putting their money where their mouth is. The two are co-founder and CEO of WaterEquity, a nonprofit that aims to improve access to safe water and sanitation around...more
Repsol, Spain's largest oil and gas company, is under fire from environmental groups for "greenwashing" its fuelsmeaning using palm oil instead of natural gasand is now facing a lawsuit from another...more
Foundation: Topeka Community Foundation
"God's people deserve a peaceful, quiet, and secure place to stay." Those are the words of Reden Jalosjos, co-owner of Reden Construction, as he breaks the ground on a new 25-unit affordable...more
Social Entrepreneurship
Spotlight
Why People Buy from Social Enterprises?
The Guardian has compiled a list of responses to its latest open thread, and has announced the winner of the social enterprise gift hamper packed with presents.
