Social Sustainability
Social Value
The broader value an activity creates for people's wellbeing and communities — statutory in UK procurement through the Social Value Act.
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.
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