In Wales, the importance of social value is recognised through the Well-being of Future Generations (Wales) Act 2015 which requires public bodies in Wales to think about the long-term impact of their decisions, to work better with people, communities and each other, and work to prevent issues such as poverty, health inequalities and climate change.
Social Value can be defined as the positive impact on local people & communities, the local economy, and the environment that we create by the way we spend public money to buy goods and services.
These can be through:
- Social benefits that deliver positive outcomes for individuals and/or communities
- Economic benefits that strengthen a workforce, industry, sector and/or the economy
- Environmental benefits that result in protection or enhancement of the environment, e.g. carbon reduction or nature protection.
With the introduction of the Social Partnership and Public Procurement (Wales) Act 2023 procurement plays a crucial role in delivering sustainable outcomes and the Council is committed to embedding social value throughout its practices and purchasing decisions. One of the key ways it can do this is by actively enhancing the wider social, economic, and environmental impacts of the goods, services and works it procures and the organisations it does business with.
The Council believes that through this approach, we can achieve both a return on investment on a whole life basis and generate benefits for the local economy and environment.
For more information, contact our Social Value Policy Manager below: