Peer-learning partnerships (PLPs) for Promoting Social and Solidarity Economy (SSE) Ecosystems
Stakeholder engagement in addressing societal and global threats is essential to develop solutions effectively. While government and philanthropic funders have formalized stakeholder engagement practices (such as environmental and social impact assessments), impact investors still need to catch up. The lag in stakeholder engagement is particularly stark in social impact measurement across all sectors.
This effort extends to adequately integrating stakeholder voices in establishing, using, and refining valid social impact measures, measurement practices, feedback loops, and impact management throughout the lifecycle of a program or investment. Barriers are plentiful, with the cost of engagement often leading the pack, shareholder primacy, agreed-upon best practices, and institutionalization of those practices in a legal framework.
The Organisation for Economic Co-operation and Development (OECD), in the context of the Global Action “Promoting Social and Solidarity Economy (SSE) Ecosystems,” funded by the European Union’s Foreign Partnership Instrument, aimed to create knowledge and experience-sharing opportunities between countries and stakeholders on different topics critical to SSE development.
Sambodhi was a core consortia member who formed peer-learning partnerships (PLPs) to create knowledge and experience-sharing opportunities between countries and stakeholders on topics critical to SSE development. The primary focus of this consortium was to implement one of the PLPs focused on the topic ‘Stakeholder Engagement Practices in Impact Management and Measurement (IMM).’ Building upon existing standards and associated practices, Sambohi discerned best practices for stakeholder engagement to strengthen awareness and incorporation in training and policies.