The importance of the new Social Value Policy has been highlighted during a recent hybrid event at PwC, Belfast.

NI Water and the Social Value Unit at the Strategic Investment Board (SIB) emphasised the pivotal role social value plays in public awarded contracts.

The Social Value Supplier Engagement Session focused on the introduction of the new Social Value Policy which outlines that scoring social value in public awarded tenders will now be a mandatory requirement. The event also highlighted the opportunities that are available for the supply chain and the social, economic and environmental benefits that can be achieved, when delivering social value through the life of a contract.

Commenting on the recent introduction of this policy, Infrastructure Minister John O'Dowd said: "I want to congratulate everyone involved in this event. Building social value in to contracts will be critical in delivering real change for people. I welcome this cross sectoral collaboration and enthusiasm to work together to deliver benefits for people. We can be an exemplar for change and I would encourage everyone to promote best practice in delivering on our social value commitments."

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Speaking at the event, Ronan Larkin, Director of Finance, Regulation & Commercial at NI Water added: "This event has given us a great opportunity to engage with key stakeholders on how we can fully embed social value into public awarded contracts.

"This is just the start of the social value conversation. Hearing from multiple sectors about initiatives already in place and their future social value strategies has been extremely positive and illustrates a solid level of commitment. It is encouraging to see what these future collaborative partnerships can deliver for people and for communities here."

Esther Barnes, Social Value Advisor commented: "Working alongside NI Water on this event has enabled us to bring the social value policy to life. Engaging with suppliers and third sector organisations is really important to us. We want them to know that we are here to support with this new change in public procurement and this event has enabled us to do just that.

"We are overwhelmed by the enthusiasm and the level of engagement that has been demonstrated and we look forward to supporting the supply chain in putting social value at the core of their business."