Session will help cities to better assess the social and environmental payback of projects
On 25 October 2013, ten of our members will take part in a training session on ‘social return on investment’ (SROI). It will be delivered by Graham Randles, executive director of nef consulting, which works in partnership with the New Economics Foundation on developing and applying the SROI methodology in the UK and beyond.
The SROI methodology is an innovative and powerful tool to evaluate the costs and benefits of projects. It goes beyond purely economic considerations and includes the social and environmental criteria on an equal footing.
As the methodology investigates the impact of public spending in a comprehensive way, it allows for more informed and complete decision making.
The session, which will allow cities to use the SROI methodology to assess programmes that tackle social disadvantage, is organised in the framework of the newly adopted Social Investment Package (SIP). The SIP encourages all relevant stakeholders to improve the efficiency and effectiveness of social spending, with the aim of enhancing people’s capacity to participate in society and the labour market and ensure no-one is left behind. The SROI methodology training session will enhance cities’ capacity to reduce inequality and improve wellbeing and the environment by incorporating the social, environmental and financial costs and benefits of projects.
Using the SROI methodology will also help cities to better estimate the added social value of their programmes and projects, and will therefore allow them to contribute to the evidence gathering that will support the implementation of the SIP on the ground.