The Royal Bank of Scotland (RBS) SE100 Index is launching a new service that will allow social investors to track the financial, social and environmental performance of social enterprises live online.
Nick Hurd, minister for civil society, said the index “will be an excellent resource for both policymakers and social investors as they seek to identify opportunities to support and finance growth in this vibrant sector.”
The index is made up of social enterprises, ranked according to their financial performance and their positive social or environmental impact. Its members include organisations such as charities, community interest groups and development trusts.
The index had previously gathered information through an annual survey. Now, organisations that join will be able to see how they compare to others in their region or business sector through up-to-date statistics. This information can then be shared with investors.
Top performers in sustainable growth and social impact will get the chance to claim a share of a £25,000 prize fund at the RBS SE100 Annual Awards in November.
Duncan Sloan, head of community banking at RBS, said, “We are pleased to have been partnering with the Index since it began and this year’s development marks a significant and exciting opportunity to build greater understanding and greater support for social enterprises across the UK.”
In June, David Cameron unveiled a Social Stock Exchange (SSE) to promote social investment in the UK. The SSE’s aim is to provide investors with the opportunity to invest in publicly listed firms that generate social and environmental benefits as well as financial ones.
The prime minister said that social impact investment can be “a great force for social change on the planet”.