Social Sustainability

Social Value

Meaning statusEstablishedSource recordDirect source requestedWhy these are different

Definition

Social value is the positive difference an organisation's activities make to the wellbeing of individuals, communities and society — beyond financial value — encompassing employment, health, inclusion, community cohesion and environmental quality. In the UK, the Public Services (Social Value) Act 2012 requires public bodies to consider how procurement can improve economic, social and environmental wellbeing, embedding social value in contract award criteria; Social Value UK and Social Value International steward measurement principles.

References

socialvalueint.orgBulk import source

This reference provides supporting context for how “Social Value” is defined and used.

www.gov.ukBulk import source

Source imported for editorial provenance.

Overview

How it is used

The concept structures UK public procurement scoring, corporate social reporting, construction and infrastructure commitments, and social enterprise business cases.

Why it matters

Social value turns public spending — a third of GDP in many economies — into a lever for wellbeing rather than merely a market transaction.