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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.
"There is growing scientific consensus that the Amazon Basin is reaching an ecological tipping point and urgent action is needed," says James Scriven, CEO of IDB Invest, a multilateral development...more
Enhanced Capital has been investing in communities across the US for more than two decades, and in its 2023 Community Impact Report, the investment firm says it has created more than 53,000 jobs,...more
A California state lawmaker has introduced a bill that would require oil and gas companies working in remote areas to pay for the damage they cause to communities, the Los Angeles Times...more
Enhanced Capital, a New York-based impact investment firm, says it has created more than 53,000 jobs, offset 1.8 million metric tons of carbon emissions, and invested $3.7 billion in community...more
Foundation: Marguerite Casey Foundation, Marguerite Casey Foundation, Kresge Foundation
Stephen Stephens' father died of cancer when he was 53, and his message to young people has stayed with him. "Always do the right thing son," he tells Fast Company. "That message has always...more
Foundation: Indianapolis Foundation
Lynne Arriale's new album, Being Human, is all about "people who exemplify Passion, courage, love, curiosity, and other human qualities," the Florida pianist tells Rita Kohn of the Indianapolis...more
"If the class register were anything to go by, education would be one of modern civilization's greatest success stories." That's what Peter Wilson, a member of the UBS Accelerate Collective, had...more
Foundation: Gates Foundation
Melinda French Gates is stepping down as co-chair of the Bill & Melinda Gates Foundation, which she founded with her ex-husband Bill Gates more than 20 years ago. As part of an agreement made...more
Ahmad Al-Mallahi is a professor of agricultural engineering and sensing technologies at Dalhousie University in Halifax, Canada, and he's spent the past five years developing technology that could...more
Deforestation in south-east Asia could slash the region's GDP by 35%, according to a new report from Reuters. And that's not all. The report also finds that $100 billion pledged to fight...more
Social Entrepreneurship
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JustFund: Pioneering Equitable Philanthropy with Simplified Grantmaking
JustFund, a grantmaking platform built by funders and organizers of color, aims to revolutionize philanthropy by making it more equitable and efficient.
