Abstract Information: Social and environmental outcome valuation is the process of converting project outcomes to monetary values. Through this conversion, project inputs and outcomes can be measured in the same monetary unit which can demonstrate the amount of value a project creates and whether it creates more value than it costs to implement. By presenting, or supplementing, a project with this information, potentially abstract concepts like environmental and social impact can be presented in a tangible and understandable unit of measurement to a variety of stakeholders. This can help projects raise funds, build coalitions, and tell their story efficiently and transparently. Using lessons of what went right and what went 'less right' from their experiences with outcome valuation in the field, the presenter will explain what social and environmental outcomes valuation is, methods used to value outcomes, when these methods are appropriate, how these methods are used in designs such as Social Return on Investment and Social Impact Bonds, and how it can be used to tell or enhance a story of whether, and for who, a project is creating value.
Relevance Statement: The presenter spent two and a half years with a social impact consulting firm in Colombia using outcome valuation methods in an unsuccessful attempt to design a small social impact bond and successful implementation of social return on investment evaluations. The lessons learned from this experience, both positive and negative, can help inform others on what to avoid, what worked well and what worked less well. The presenter understands the strengths and limitations of outcome valuation, and the necessity for those that use these methods to use them responsibly. When these methods are used correctly they can be highly beneficial for projects to tell their story of impact to a variety of stakeholders, some of whom may be more receptive to stories that have impact represented by tangible and transparent values. As of date, there have been 276 impact bonds worldwide, countless more SROI evaluations and other methods that use outcome valuation, such as results based contracts. As practitioners continue using these methods it is important to share experiences and learnings with each other to promote responsible and equitable implementation.
