We’re excited to announce that GIST Impact has joined the Social Value UK network, the professional body for social value and impact management.
Speaking on the announcement, Social Value UK CEO, Isabelle Parasram said: “We are delighted to welcome such an important organisation to our movement. Delivering a more sustainable future goes hand-in-hand with improving wellbeing outcomes. Only by unifying financial, environmental and wellbeing interests can we truly achieve excellent value in the decisions we take as a national and global community.”
To mark the occasion, Social Value UK recently sat down with Karan Peer, Social Impact Lead at GIST Impact’s Research and Innovation Lab, to discuss the partnership and GIST Impact’s social value work. Check out the full interview below.
Social Value UK: Why have you joined SVUK? What do you hope to achieve and what training or tools we offer are you most excited by?
Karan Peer: GIST Impact is thrilled to join Social Value UK to fortify our commitment to measuring and evaluating social value by aligning ourselves with globally recognised principles. With over 15 years of experience in quantifying social and environmental impacts, our collaboration with Social Value UK enables us to further validate our work, and engage with a broader community of social value practitioners to exchange notes and innovate together.
Our membership aligns seamlessly with our mission to provide scientifically rigorous impact data, something we have been actively pursuing with pioneering companies and investors the world over. The opportunity to partner with Social Value UK opens new avenues for us to share knowledge, exchange best practices, and continuously innovate in the realm of social impact measurement.
What excites us most about joining Social Value UK are the training programs and tools that promote an increased understanding and standardisation of social value. Specifically, we look forward to leveraging Social Value UK’s practitioner training, which includes the Social Value and SROI Accreditation programme.
Furthermore, the tools and resources available through Social Value UK, such as the Global Value Exchange, provide a valuable database that aligns with our goals of scaling impact measurement across global markets. We hope this will enable us to continually innovate in how we assist our clients on their impact journey with the most robust and up-to-date methodologies.
We hope that our membership will connect us with the community, tools and training we need to building on our track record and turbocharge our efforts to promote social value measurement with our clients.
Social Value UK: How deep is your current knowledge of social value practice?
Karan Peer: Over the course of the last five years, GIST Impact’s has been measuring and evaluating the Social Return on Investment (SROI) for a diverse range of global social initiatives across various sectors and contexts. Noteworthy examples include analysing the SROI for Corporate Social Responsibility (CSR) programmes for the UK office of a leading global technology firm, a water utility enterprise situated in Australia, a forestry company in Sweden, a fertiliser manufacturing company in South Asia, and a leading African hotel chain. Additionally, we’ve conducted assessments for several non-governmental organisations (NGOs) in India.
Social Value UK: Have you produced social value reports before and if so, how do you feel SVUK can advance these?
Karan Peer: Yes, GIST Impact has generated comprehensive social value reports for a majority of our clients. Our recognition of the potential benefits in partnering with Social Value UK is rooted in our alignment with the established 8-step SROI measurement framework endorsed by the organisation. By adhering closely to these guidelines and engaging with Social Value UK, we not only secure a sense of social validation and proof, crucial for fostering client trust, but also demonstrate our commitment to adhering to globally recognised social evaluation principles.
Social Value UK: You have joined a global social value movement, what does this mean to you? How important do you think it is that organisations make decisions informed by their social impacts?
Karan Peer: The importance of organisations making decisions informed by their social impacts cannot be overstated. In today’s interconnected world, businesses have a far-reaching effect on communities, the environment, and society at large. By considering their social impacts, organisations demonstrate a sense of responsibility and foresight that extends beyond short-term gains. This approach not only contributes to positive social outcomes but also establishes a virtuous cycle of value creation. By joining the global social value movement, we recognise that an organisation’s actions reverberate far beyond its balance sheets. At GIST Impact, we strive to be agents of positive change, promoting ethical decision-making, fostering sustainable practices, and ultimately contributing to a more equitable and prosperous world.
If you’re interested in learning how GIST Impact can support you with social value measurement, get in touch at email@example.com.