Firesouls to create social impact from £1bn framework
Firesouls and Genesis Housing Association announce an exciting partnership to get more resources into our local communities.
The Social Value Exchange will support one procurement framework and a Dynamic Purchasing System (DPS) worth over £1bn to maximise the Social Value in the tendering process.
Genesis have established a £50m, 4 year call off framework for Energy & Water Procurement and Associated Contract Management Services. In addition, they have created a DPS for Energy & Water Supplies with a potential value of £960m over its 8 year term — with a further 2 year extension possible.
Paul Jameson, Director of Procurement at Genesis commented,
Having already used the Social Value Exchange for a recent procurement, we wanted to bring them back in to support these frameworks. We are committed to using our spending power to get more resources directly into our local communities and the Social Value Exchange allows us to do this in a smart and efficient way.
The Social Value Exchange uses sharing economy principles and an e-Auction to maximise suppliers’ Social Value contributions to local communities. It enables suppliers to align their contributions to recognised local needs. It also ensures resources reach beyond large or well known projects, to new or smaller social enterprises and non-profits that show potential.
Dan Ebanks, co-founder of Firesouls, said,
Research shows funding cuts have hit small charities the hardest. We have seen how these organisations can be the lifeblood of local communities. It is our priority to help these organisations continue providing valuable services for people who depend on them.
In 2016 Genesis partnered with Firesouls using the Social Value Exchange to create £450K worth of resources for communities from a £20m Estates Services contract. Right now, those resources are being used to support local education and employment projects that support Genesis residents into work and further education.