SVI Publishes a Response to COVID-19 and Application of Principle 1
Social Value International have been working to respond to the implications for the application of Principle 1: Involve Stakeholders during the current Covid-19 global health pandemic.
The pandemic has seen communities across the globe having to physically distance from one another. This has direct implications for Practitioners of Social Value and SROI analysis who are committed to involving stakeholders in any assessment of the social value that is created or forecast to be created through an activity.
Issues identified include:
1. Mixed levels of stakeholder involvement. Adequate levels of stakeholder involvement have taken place in the process of defining outcomes and amounts of change however the analyst still requires data on value and/or causality.
2. Biases towards those with internet access. Covid-19 restrictions are limiting stakeholder involvement to those with internet access only
3. Lower response rates. Engagement with stakeholders is limited, response rates are lower than usual due to the conditions created by Covid-19
In collaboration with the SVI Reporting and Assurance Technical Committee, the SVI team have drafted this response, with a particular focus on the implications these limitations could have on reports achieving assurance, and Practitioners gaining accreditation.
If an analysis has no stakeholder engagement at all it cannot be assured. However, it is recognised that these are unprecedented times with difficult working conditions across the world, and stakeholder engagement has new challenges.
Please read the response and advice for Practitioners in full HERE.
To read more about the application of Principle 1, please refer to the Standard for applying Principle 1: Involve Stakeholders here.