- What is SROI?
- SROI Analysis
Accounting for Value
I WANT to share something about Shell's business that is an integral part of what we do in Australia.
What is generally well known about Shell's business is that we invest in potential. For example, we invest in the possibilities of a gas field, in new technologies such as floating LNG facilities and in the leadership aspirations of our employees.
What may be less known about Shell in Australia is that we are an investor in a range of community organisations and their education projects across the nation. While Shell has contributed to the community throughout its 110 years of business in Australia, last year saw us significantly increase our social investment to $15 million over three years so that we can better align with our growing business aspirations here.
What value can a corporate get out of this social investment? Is it simply spin and PR? Or have we moved to the point where companies like Shell genuinely believe that part of the role of an investor is to invest directly into the community in which we live and work?
Read the entire news item here
from Ann Pickard From: The Australian
Big Society Capital commissioned a team comprising NPC, The SROI Network and Investing for Good to develop a new suite of tools to help social investors, and those seeking social investment, to embed a robust approach to impact in their work.
The tools presented here are:
The outcomes matrix and outcomes maps are not intended to be exhaustive—rather they represent a first attempt to map the territory in each area. They are also not meant to be prescriptive, but rather to support social investors and potential investees in thinking through the structure of their impact approach.
You can also access and comment on this content in wikiVOIS, a database containing all the outcomes and indicators covered here, as well as others uploaded by users.
Chris White the MP responsible for the Social Value Act will be opening a member only event held by the SROI Network on February 1st, the first day the act goes live in the UK.
The event, which brings together members of the SROI Network from around the globe to discuss and debate Social Return on Investment and what the future may hold, is the first in what is hoped to be an event that will return annually. A range of members from different fields and organisations including the London School of Economics, The Social Stock Exchange and local housing authorities will update on the current challenges faced by those trying to account for value, and progress made.
“The Public Services (Social Value) Act 2012 is a fantastic opportunity to spread the principles of social value across the public sector. Public sector organizations spend over £200 billion on goods and services every year and we need to be getting maximum value from that spending. Tools such as Social Return on Investment can help commissioners and businesses to create additional value and I hope the Act can widen the debate on the use of SROI.” Chris White, MP
The Social Value Act calls for all public service commissioning to factor in social value. For the first time, all public bodies in England and Wales will be required to consider how the services they commission and procure might improve the economic, social and environmental wellbeing of the area.
Mr White will be discussing the importance not only the act itself but the measurement techniques that will help people account for the social value their work creates. Councillor Paul Brant will also be attending to discuss Liverpool’s position as a city keen to lead the way with new the commissioning procedures.
"A thriving social enterprise sector is essential to a thriving City. This new Act will help build on the innovative approach taken here in Liverpool which has allowed us to give a hand up to organisations in our procurement and tendering processes." Paul Brant, Deputy Mayor, Liverpool
To see social value creation in action, Mr White will also be visiting Furniture Resource Centre, one of the UK’s leading social enterprises. Furniture Resource Centre campaigns for the creation of furnished tenancies that give people on low-incomes a quality furnished home and avoids tenants using expensive credit to purchase essential furniture. Housing Associations buying furniture from Furniture Resource Centre is an example of the Social Value Act in action: tenants have a better quality of life and avoid excessive debts and Furniture Resource Centre employs and trains local long-term unemployed people for future careers in logistics, distribution and warehousing.
SROI is at the forefront of aiding those who wish to account for more than just profit and loss and is eager for the acts success. Their event hopes to be the first in many to allow their members to learn from and teach one another whilst shaping the future for social return on investment.
The SROI Network will be hosting a free webinar entitled "What is social value?" on the 6th of February and can be joined here.
The SROI Network will also be offering a one day introduction to social value course with SEUK, for dates availability and pricing visit http://www.thesroinetwork.org/training/measuring-social-value
IASB had been working on revision to IAS 37 Provisions, Contingent Liabilities and Contingent Assets which addresses liabilities of uncertain timing or amounts that are not within the scope of another standard. The exposure draft was published in 2005. In 2012 this became a research project which will focus on identifying examples that are continuing to cause difficulty in practice and it will initially provide test cases for developing the Conceptual Framework.
This is one place where research on materiality in sustainability could meet research on contingency liability in accounting
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