BS 8950:2020 - Social value. Understanding and enhancing. Guide – BSI British Standards

BS 8950:2020

Social value. Understanding and enhancing. Guide

Status : Current   Published : November 2020



We have a free to download Guide on BS 8950.  It provides a short overview of why social value might be beneficial to organizations and why the topic has become more prominent. It can also be used to help with initial engagement at all levels within organizations including with the executive leadership.

Click here to download your free Guide on BS 8950.

What is BS 8950:2020 about?

Interest in the concept of social value is growing as organizations increasingly want to show social responsibility leadership, further embed sustainable practices, or simply find another way to improve how they do business and benefit their communities. BS 8950:2020 has been written to help users identify, preserve and enhance their organization’s social value.

Who is BS 8950:2020 for?

The intended users of this guide are decision makers within organizations and those who support the decision-making process. This covers:

  • Organizations and companies of all sizes in all sectors – public, private, civil society, and government, as well as collaborations and partnerships
  • Investors, commissioners and advisors
  • Those who are already measuring social value as well as those who are new to it

Why should you use BS 8950:2020?

This British Standard gives guidance and principles for the understanding, preservation and enhancement of social value. It focuses on the collection and use of appropriate data for making decisions about social value in all types and sizes of activities, organizations and groups, including public, private and social purpose organizations working alone or with others; and creates a framework for measuring social value, building on and linking to existing principles and frameworks.

The standard:

-      Helps organizations to understand their role in preserving and enhancing social value

-      Helps with decision making by collecting and using appropriate data

-      Gives a framework for measuring activities and makes links with existing frameworks

-      Outlines principles to help organizations recognize, account for and report on social value

-      Outlines social value in the context of sustainability

-      Helps identify the benefits of social value, no matter how little data or maturity an organization has

NOTE: This is a guide, not a requirements standard. Also it doesn’t provide detailed practical instructions for carrying out specific related social value activities; and standardized data for qualifying impact.

 BS 8950:2020 contributes to UN Sustainable Development Goal 3 on good health and wellbeing, Goal 11 on sustainable cities and communities and Goal 12 on responsible consumption and production.

Standard NumberBS 8950:2020
TitleSocial value. Understanding and enhancing. Guide
Publication Date27 November 2020
Normative References(Required to achieve compliance to this standard)No other standards are normatively referenced
Informative References(Provided for Information)Modern Slavery Act 2015, Public Services (Social Value) Act 2012, Companies Act 2006, Localism Act 2011, Public Contracts Regulations 2015, Procurement Reform (Scotland) Act 2014, Social Value Act Review 2015, Equality Act 2010, Wellbeing of Future Generations (Wales) Act 2015, Social Services and Well-being (Wales) Act 2014, Local Government Act 2000
Draft Superseded By20/30383649 DC
DescriptorsBusiness companies, Companies, Organizations, Personnel, Enterprises, Health and safety requirements
ISBN978 0 539 02457 9
File Size1.41 MB

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