Procurement for Social Impact
This route to impact allows businesses that are intentionally diverting some of their procurement spend towards suppliers who create clearly defined and demonstrable social impact, to capture and report this within the B4SI Framework.
Examples may include:
– A company choosing to procure supplies from a social enterprise that employs disadvantaged people.
– A company choosing to procure services from an indigenous-owned company that is making a meaningful social impact.
– A company partnering with a social enterprise to deliver HR workshops on diversity and inclusion.
For more information and to access the dedicated guidance please contact us to enquire about joining the network
Learn more about the three routes to impact
1. Community Investment
The business is working externally with community organisations to address a social issue.
The focus of this activity is to benefit the community and secondly, the business
2. Business Innovation for Social Impact
A business division is developing or adapting core commercial activities that create clearly defined social impact and generate a clear return to the business
The focus of this activity is to benefit both society and the business.
3. Procurement for Social Impact
The business is switching procurement spend towards suppliers that are creating clearly defined social impact.
The focus of this activity is to benefit both society and the business.
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The B4SI Frameworks support our work, and enables us to accurately measure what we’re giving, in a way that is generic across our whole business. It also enables us to work with our partners to measure the impact of the money that were able to give on the volunteering and support.”
Alexis Steadman, Global Community Manager. RELX