Social Return of Investment - Measuring our impact
We are used to consider our business as purely technical, forgetting too much that by supplying water 24/7 to populations we bring more than water: we bring social changes on the ground along with economic benefits for inhabitants – by providing safe water we improve health through reduction of water borne diseases - and local authorities - by delivering a proper water service we contribute to the local development of territories.
SIWI has demonstrated in one of its report that 0.3% increase in investment in household access to safe water is associated with a 1% increase in GDP. In the contrary, a lack of safe drinking water can create a heavy cost burden on nation’s economies.
To value the economic and social impact we bring to our local authority clients and their citizens thanks to the water service we deliver it was decided by Veolia Sustainable Development Department (HQ) to test a tool identified for its relevance in terms of replicability: The Social return on investment or SROI.
Social Return of Investment is a method used to identify, measure and value change in ways that are relevant to the people or organizations that are experiencing or contributing to it. By measuring social, environmental and economic outcomes, we can explain how change happened and value it.
This SROI is a principles-based method for measuring extra-financial value – social, environmental and economic outcomes resulting from an activity - relative to resources invested. It aims at identified the impacts and then monetized them to give them a monetary value.
One of our contract was chosen as a pilot case study and after 3 months to collect the data the first results were delivered: by investing 1 INR to refurbish the network and deliver 24/7 water supply Veolia will produce a value of 6 INR.
This SROI is today used in every tender in UK as it is now mandatory in this country for the bidders: the suppliers have to demonstrate their contribution to the economy and local development of the territories where they operate.
Veolia India can help you to evaluate the value created by robust public services.
Partnership with NGOs
Beyond the industrial services we provide, helping socially disadvantaged people in one of our main priorities at Veolia India. Through Veolia Foundation, we have been supporting several Indian NGOs for years now.
TARA: The NGO TARA is a residential home for children with an emphasis on education. Veolia India has been supporting TARA since 2012. Every year, we have been sponsoring and supporting TARA with their various initiatives and have also been participating in the Main Tendue Gala.
For instance, in 2015, for TARA Tots (residential home for 2 to 10 years old children), Veolia India has taken the responsibility to sponsor a washing machine and also a driver for a year which will have the children at home.
Main Tendue: This Indian Charitable Trust supports 12 Delhi based NGOs and has strong relationships with key institutions, educational and cultural organizations. Veolia has entered into a partnership for supporting Kamalini and Shakti Shalini NGOS and has hosted training sessions for the employees of Veolia on women empowerment.
Life Project For Youth (LP4Y): Life Project for Youth (LP4Y), an NGO created in 2009 for the reinsertion of underprivileged youth, has been supported by Veolia Foundation since 2015.
LP4Y mission is to assist underprivileged youth aged 17 to 24 years old, living in extreme poverty and victims of exclusion: ex-prisoners, abuse sufferers, disabled, street youth, etc.
The NGO builds structures to welcome these young people in difficulty, but also to train and guide them in their social and professional integration. Called Life Project Centers, these sites also take the shape of entrepreneur micro-project incubators that make it possible for the youth to envision job integration through the creation of a micro-business.
Following its involvement in three East Asian countries (Philippines, Indonesia and Vietnam), the NGO has concentrated its efforts in India, with four centers opened in 2015 and 2016. Two sites are located in Kolkata, and two sites in Delhi: one welcomes young men in Paharganj, a famous neighborhood of Old Delhi; another center welcoming young women in Sangam Vihar, South Delhi has just been unveiled on June 28, 2016.
Lastly, the NGO received support from CSR department of Veolia India, with a trainee going to the Paharganj center on weekly basis to provide English and IT training programmes for the youth. On July, 22, 2016 the whole CSR team of Veolia India visited the Paharganj center to meet the NGO volunteers and the LP4Y participants. This was the occasion to witness the graduation ceremony, where the youths publicly presented their professional projects and were granted the certificate indicating that they passed to a further stage of the training programme.