VIDEO: Social value to redefine public/private sector relations

By: Information Daily Staff Writer
Published: Friday, August 15, 2014 - 15:26 GMT Jump to Comments

With public sector austerity set to continue, governments across the world are looking to forge new relationships with their suppliers based on social value.

In this video, Professor Olinga Ta’eed explains how suppliers to the public sector will be required to deliver resources back to the communities served by the organisations they are doing business with.

In India, there is already a 2% CSR law requiring corporates to deliver this proportion of their gross profit back to worthwhile causes. In Europe, any business with more than 500 staff must demonstrate and deliver social value through CSR reporting. Even the Americans are taking this route.

In the UK, there is the Social Value Act. Birmingham City Council, facing a £2bn deficit, is taking the ‘brave step’ of using the Act to require its 34,000 suppliers, from 2015, to demonstrate and deliver social value if they want to continue to do business with the Council.

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