COP26 – The Time is NOW!
What can I do to help?
With the COP26 Glasgow conference in full swing this week, we are reflecting on how we too can mobilise people to create real, sustainable change through campaigning. At SVUK our mission has always been to change the way society accounts for value through principles, practice, people, and power. By changing the way we account for value, focusing on the social value of projects rather than solely the financial success, we believe that we will end up with a world with more equality and a more sustainable environment.
There are many initiatives that we are involved with at SVUK that are working to create systematic change in the operations of large organisations. As an SVUK member we welcome you to join us and get involved in these fantastic campaigns to show your support for value-led decision making and consequently the environment and inequality issues.
How Do Companies Act Campaign
In 2019 we developed the How Do Companies Act Campaign, this group is a coalition of organisations and individuals working together to reform the legal framework for businesses in the UK. The ultimate goal is re-writing sections of the Companies Act but also to work collaboratively on other areas of legislation and regulation that can ‘hardwire’ social and environmental impacts into business decision making through better governance, accounting, and reporting. Essentially, together we aim to change the basis of financial accounting (to include social and environmental impacts).
We are holding our next campaign meeting on Wednesday 10th November at 1:00-2:00pm, with an aim to discuss how we re-establish the way forward. How best can we push for value led decision making in legal frameworks?
If this is of interest to you, please do get involved and join the discussion!
The Better Business Act
As you know, the climate emergency and social inequality are profound and pressing problems, thrown into sharp relief by the COVID crisis, that can only be solved if the enormous potential of entrepreneurs, innovation and enterprise is harnessed. To do so, the Better Business Act was developed.
The act works to amend Section 172 of the Companies Act 2006 so that companies are legally obligated to operate in a manner that benefits their stakeholders, including workers, customers, communities and the environment, while seeking to deliver profits for shareholders. The Better Business Act aims to transform the way we do business, so that every single company in the UK, whether big or small, takes ownership of its social and environmental impact.
The BBA coalition currently consists of over 800 businesses and here at SVUK we are proud to be one of them.
Contract for Change
Approaches to implementing social value within procurement have taken great strides forward over recent years. This has included the development of legislation and policy, while various practical techniques such as measurement tools and methodologies have been adopted. Both procurement professionals, stakeholders and suppliers now have a far greater understanding of the potential of social value, with many procurements already incorporating specific social value evaluation criteria.
Contract for Change, developed by us at SVUK, seeks to maximise the social value created by organisations or sectors by ensuring procurement and commissioning reflect the organisations social value priorities into the functions strategic approach, policies and operations
CfC will provide direction in how to position, plan, operate, and provide for the creation of greater social value by organisations The work steam will bring together buyers, suppliers, policy makers, commissioners, practitioners, academics and other interested stakeholders to create a comprehensive understanding of social value and how to implement best practices.
Due to the recent pandemic and other factors outside of our control, the CfC campaign requires a relaunch, with a website update also. So stay tuned for the beginning of 2022 if you would like to be a part of this work stream.
Let us know your thoughts! There is no time like the present, to get involved and help drive systematic change!