The Office of the Third Sector has announced a new project on Social Return on Investment (SROI) to be taken forward over 2008-2011.

The 'Measuring Social Value' project will aim to encourage wider use of SROI, by making it more attractive to investors and funders. It will be run by a consortium led by SROI UK.

Others members include New Philanthropy Capital, the New Economics Foundation, the Charities Evaluation Service and NCVO.

The project will aim to build on current work on impact measurement and standardise the approach to using SROI. It will also develop a network to raise awareness of SROI and make social reporting more cost-effective for organisations.

More information is available on the Office of the Third Sector website.

• Also see Philanthropy UK coverage of the initiative in our June 2008 Newsletter.