Applying Social Return on Investment (SROI) to Build a Sustainable Flood Recovery Project

Abstract

Sustainability is becoming increasingly importantagendafor governments, organisationsand academic institutions due to the environmental and social challengesin the world today. Sustainability is no longer all about theenvironmental aspectsbut also the social and economic aspects, which can only be achieved by attaining an effective balance between these three aspects. In this regard, astudyof Social Return on Investment (SROI) is critical in fostering the means to manifest the importanceof these goalsand it urges a new approachto define afull value of sustainability. A review of the social impactsectors identifies that SROI isthe most effective approachwith a solidimplementation framework. Therefore, the concept of SROIis reviewed in this paper, as well as its applicationtogovernment investment inflood recovery projects. This paper is prepared by conducting a series ofliterature reviewsin order to establish a foundation for a new insight forcontribution to knowledge. The researchersprovides a step-by-step account of SROI implementation on a flood recovery project named “New Permanent Housing” (Rumah Kekal Baharu) RKB project in Kuala Krai, Kelantan. Applying the SROI methodology to theflood recovery project was feasible and provided guidanceand interpretationinto the project’s impact. Thus, the SROI framework can be a valuable toolfor stakeholders to assess the sustainability of social investments in a sustainable environment.