The Social Value Act (SVA) was passed into legislation in March 2013. A year on, interest in the concept of social value has begun to gain real momentum both within, and perhaps most importantly, outside of the scope of the Act.
Businesses are really beginning to grapple with the challenges posed by the act and in particular the lack of specific recommendations around how social value should be measured or accounted for – and when. This has raised larger questions about how social value can or should be measured, what metrics are appropriate and if companies‟ performance can be compared.
This briefing document aims to set out how social value is currently being talked about across all sectors, with a focus on the UK.