EQUAL SOCIETY

This initiative focuses on the development and implementation of the SROI (Social Return on Investment) methodology to measure the social return of social investments in Greece. The methodology evaluates the social value created through both quantitative and qualitative performance indicators. Our aim is for social impact measurement to become a routine practice for all profit and non-profit organizations, enhancing their social impact (and that of their beneficiaries), reducing social and economic inequalities, and ultimately improving citizens’ well-being by balancing social, economic, and environmental factors.

The specific objectives of the initiative are:

1. To highlight the broader social value, which, according to the three pillars of sustainable development, incorporates economic, social, and environmental indicators to assess an action or an organization.

2. To promote transparency and good governance as a first step against corruption. By requiring accountability from organizations implementing the methodology, independent evaluations, and assessments of the social value created by their activities, governance and resource management issues are more easily identified.

3. To develop and strengthen the human resources of Equal Society and of the organizations applying the methodology.

This initiative addresses:

1. For-profit entities seeking to measure the social return of the investments they have implemented (or plan to implement) within the framework of their Corporate Social Responsibility (CSR) activities.

2. Non-profit organizations that wish to conduct a substantial and in-depth evaluation of their activities to improve them and facilitate engagement with investors.

From October 2017 to the present (ongoing)

Social Value Greece is the first Greek initiative dedicated to the systematic measurement, evaluation, and promotion of the social impact of actions and organizations, based on the internationally recognized SROI (Social Return on Investment) methodology.

The need for the establishment of Social Value Greece arose from the gap identified in Greece regarding the systematic documentation and substantiation of the social value created by public policies, social enterprises, NGOs, and third-sector organizations. The initiative focuses on empowering and guiding organizations to measure and demonstrate their social impact in a transparent, evidence-based, and quantifiable manner.

The initiative was launched by Equal Society, which, since October 2017 and with the help of specialized personnel, began developing and adapting the SROI methodology to the Greek context. The first pilot implementation was in the “Studying with a Scholarship” program, followed by free social return evaluations for 10 social economy organizations, with particular emphasis on the Greek regions — simultaneously promoting local and social development.

In addition to conducting evaluation studies, Equal Society organized workshops and networking events to promote social investments, highlight the challenges faced in the field in Greece, and bridge the gap between NGOs, investors, and impact assessment professionals.

As a natural evolution, the Social Value Greece network was designed and developed, hosting the Greek Social Value Measurement Network. Its goal is to create an open dialogue and collaboration platform among social economy stakeholders to enhance their collective capacity to effectively generate and measure social value. The initiative is based on the principles of Social Value International, the global social value network, and aspires to bring the dialogue on social impact to the forefront of strategic planning—both within organizations and in public policy.

The methodology is developed in collaboration with the SROI Network International. Certified members of the organization collaborate on a case-by-case basis with legal entities governed by public or private law (e.g., NGOs, foundations, etc.), according to their respective target groups.

Equal Society’s employees are directly involved in implementing the initiative. They are fully responsible for its delivery, including certification, assessment, and training processes.

Nationwide

Since the launch of the initiative, 105 full SROI studies have been conducted for programs and activities contributing to the Sustainable Development Goals (SDGs). To date, the Social Value Greece network has collaborated with 85 civil society organizations, businesses, and institutions that have gained access to well-documented social impact data—enhancing transparency, outward orientation, and their ability to attract funding.

Participating organizations reported significant improvement in internal evaluation processes, a deeper understanding of the social outcomes of their actions, and substantial enhancements in the strategic design of their interventions. The availability of documented social impact data through the SROI methodology increased the organizations’ credibility with funders and social innovation investors, facilitating proposal submissions and access to resources from both public and private sources.

The implementation of the Social Value Greece initiative yielded multiple, measurable, and substantial benefits for Equal Society and its broader network of collaborating organizations:

Showcasing expertise and positioning: Equal Society was established as a reference point in Greece for social impact measurement. The organization expanded its scope beyond service provision to include the production of know-how, support for social innovation policies, and assistance to public and private bodies.

Organizational knowledge and capacity building: Internal development of specialized expertise in the SROI methodology led to the creation of a certified team of evaluation professionals. This enhanced the organization’s ability to offer high value-added consulting services with measurable and reliable outcomes.

New collaborations and increased recognition: The initiative acted as a catalyst for partnerships with civil society organizations, funders, municipalities, businesses, and academic institutions. Equal Society’s work gained institutional recognition both in Greece and abroad through its participation in the Social Value International network.

Sustainability and prospects for expansion: The accumulated experience and proven utility of the SROI model laid the groundwork for the institutional integration of social impact into funding instruments, programs, and policies. The initiative offers evaluation models and frameworks applicable across various sectors (education, health, social inclusion, employment), multiplying the reach and impact of the organization’s work.