Social Value Credit, The New Currency:

A Social Value is a concept often used to quantify and recognise contributions to social, environmental, or community-related initiatives. It represents a measurable acknowledgment of actions that generate positive societal impacts. These credits are typically used in contexts like corporate social responsibility (CSR), sustainability projects, or community development programs.

What is Social Value:

Social Value is a desire to generate long-term positive impacts for local communities, the environment, and other stakeholders – while generating profits and financial success for a company. For businesses to meet the scale of the social and environmental challenges we face, and thrive amidst changing demands from consumers, employees, investors and policymakers, we need a focus on Social Value that puts people at its heart.

Social Value, ESG strategies and brand trust are closely connected, and one of the best ways of powering all three is by supporting local community causes that have the potential to deliver quickly on the Social Value model, from the ground up. Thriving communities mean thriving businesses and a thriving economy. So finding ways to implement, measure and sustain a localisation strategy is essential for the future of any business. To deliver big goals, you need to think local.

What is ESG:

Creating an ESG strategy that can withstand the test of time, stakeholder demands and organisational culture, can be overwhelming. In order to deliver impact, organisations need to clearly define their measurable objectives from the very beginning.

A materiality assessment is the process of understanding what is important to your organisation and should be the foundation of any ESG strategy. Materiality assessments are created to consider more than just the business impact, so financial and non-financial, a concept known as double materiality.

Materiality is continuously evolving and is scaled to provide the correct level of insight to start strategy planning. The importance of ESG topics varies by industry, company and stakeholders.

What is Social Value:

Social Value is a desire to generate long-term positive impacts for local communities, the environment, and other stakeholders – while generating profits and financial success for a company. For businesses to meet the scale of the social and environmental challenges we face, and thrive amidst changing demands from consumers, employees, investors and policymakers, we need a focus on Social Value that puts people at its heart.

Social Value, ESG strategies and brand trust are closely connected, and one of the best ways of powering all three is by supporting local community causes that have the potential to deliver quickly on the Social Value model, from the ground up. Thriving communities mean thriving businesses and a thriving economy. So finding ways to implement, measure and sustain a localisation strategy is essential for the future of any business. To deliver big goals, you need to think local.

What is ESG:

Creating an ESG strategy that can withstand the test of time, stakeholder demands and organisational culture, can be overwhelming. In order to deliver impact, organisations need to clearly define their measurable objectives from the very beginning.

A materiality assessment is the process of understanding what is important to your organisation and should be the foundation of any ESG strategy. Materiality assessments are created to consider more than just the business impact, so financial and non-financial, a concept known as double materiality.

Materiality is continuously evolving and is scaled to provide the correct level of insight to start strategy planning. The importance of ESG topics varies by industry, company and stakeholders.

Reporting & Frameworks:

There is no single approach to ESG reporting, and the best method varies by business. It is a complex yet vital tool for managing ESG impacts and meeting stakeholder and investor demands.

Understanding why your organisation needs to report is essential and could stem from various stakeholder pressures. A primary reason is compliance with evolving global regulations, such as the UK’s TCFD disclosure requirements by 2022 and the EU’s non-financial reporting rules for large companies. Investors, lenders, and insurers increasingly seek these disclosures due to awareness of non-financial risks.

ESG reporting helps communicate value creation and how non-financial risks and opportunities are managed. Organisations should identify who requests disclosures, what they need, and why. Given that reporting is time-intensive, focusing on relevant content for key stakeholders is crucial. The choice of reporting framework should align with stakeholder needs.

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Key Features of Social Value Credits:
  • Quantifiable Impact: Assigns a value to activities such as reducing carbon emissions, creating jobs, improving community well-being, or enhancing public spaces.
  • Encourages Participation: Incentivises individuals, organisations, or businesses to engage in socially beneficial practices.
  • Accountability and Reporting: Helps organisations track and report their contributions to societal goals, often aligning with frameworks like the United Nations Sustainable Development Goals (SDGs).
  • Exchangeable or Symbolic: In some cases, these credits can be used in trading schemes, similar to carbon credits, or serve as symbolic recognition for social efforts.

For example, a company sponsoring local tree-planting initiatives might earn Social Value Credits for contributing to environmental health and community engagement. This system ensures that positive societal contributions are recognized, valued, and encouraged.

Social Value Credit, The New Currency:

Social Value Delivery Solutions will work with you to identify your requirements.

We will research our membership and match a project with your requirement.

This will be delivered against your specific requirements whether that be social, environmental or a combination of both either nationally, regionally or even to a specific local community.

Each Social Value Credit will then be documented, certified and its impact measured utilising our expertise.

Reporting & Frameworks:

There is no single approach to ESG reporting, and the best method varies by business. It is a complex yet vital tool for managing ESG impacts and meeting stakeholder and investor demands.

Understanding why your organisation needs to report is essential and could stem from various stakeholder pressures. A primary reason is compliance with evolving global regulations, such as the UK’s TCFD disclosure requirements by 2022 and the EU’s non-financial reporting rules for large companies. Investors, lenders, and insurers increasingly seek these disclosures due to awareness of non-financial risks.

ESG reporting helps communicate value creation and how non-financial risks and opportunities are managed. Organisations should identify who requests disclosures, what they need, and why. Given that reporting is time-intensive, focusing on relevant content for key stakeholders is crucial. The choice of reporting framework should align with stakeholder needs.

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