Social Innovation

Social innovation, a hot topic today, is the use of novel ways to solve problems in society. “Innovation” consists of three main elements: novelty, entrepreneurship and diffusion. “Social innovation” expounds these three elements in the context of taking care of social needs. We believe that social impact assessment (SIA) is a necessary part of promoting social innovation. Through the introduction of SIA, the government, business sector, social welfare sector and social enterprises can measure and quantify the benefits they bring to the society, and improve themselves based on the results. In addition, social innovation as a community movement indispensably requires the involvement of the government, the business sector and the public. We launched our first research report in March 2016. We advocated for the use of SIA within the community, so that it is understood and accepted by the public where economic impact is no longer the single indicator of success. To actualise the social innovation movement, we launched the Bees and Trees platform to pair up resourceful organisations with social enterprises to utilise their advantages and solve thorny issues in society. We have further evaluated the use of SIA in our Social Impact Assessment Booklet, and launched our landscape report on green bonds. We will continue to play a role in promoting innovative ways to solve social problems through a collaborative approach.