Procurement for social impact: PwC UK鈥檚 Buy Social Corporate Challenge
- Client Name
- PwC UK
- Location
- UK
Challenge
To enhance its social impact by promoting diversity, inclusion, and social mobility while empowering vulnerable communities, PwC UK needed to address the challenge of setting measurable goals, creating impactful community investments, and quantifying its contributions to a sustainable, net zero economy.
Solution
In 2016, PwC UK joined Social Enterprise UK鈥檚 鈥楤uy Social Corporate Challenge,鈥� committing to spend 拢10 million with social enterprises over six years, until the 2023 reporting year.
To effectively measure and manage the impact of these investments, PwC UK adopted the B4SI Procurement for Social Impact Framework. This allowed PwC UK to progress on their business commitments鈥攕uch as advancing a net zero, circular economy鈥攚hile positively impacting communities by directing opportunities for vulnerable populations.
PwC UK was already using the B4SI Framework to assess community investment, and by expanding its application to procurement activities, the company could gain a more holistic view of its overall impact on communities and the environment.
Impact
By using B4SI鈥檚 Frameworks, PwC UK gained a comprehensive understanding of its social and environmental contributions. This enabled detailed reporting and showcased the power of targeted social procurement.
In 2023, PwC UK exceeded its 拢2 million annual social procurement target, investing 拢2.3 million in social enterprises.
Collaborations with social enterprises led to significant outcomes, including:
- Creating jobs for vulnerable populations.
- Facilitating over 8,000 hours of consulting work for autistic adults.
- Reducing 428kg of CO鈧� emissions through sustainable practices.
Capturing the impact of these activities through B4SI鈥檚 Procurement for Social Impact Framework alongside their Community Investment provides PwC UK with a holistic picture of their business鈥檚 positive societal impact on communities through different avenues. By reporting to the B4SI Community Investment benchmark, PwC is able to compare their year-on-year performance, and against their peers for continuous improvement.