The world of social impact is full of acronyms, frameworks and terminology that can feel overwhelming. Whether you're a B Corp, local authority, BID, charity, social enterprise or business looking to create meaningful community impact, this glossary explains the key terms you'll encounter.
A
Additionality
The positive impact that happens because of an intervention and would not have happened otherwise. In social impact measurement, organisations often need to demonstrate that their activities created value beyond what would have occurred naturally.
Apprenticeships
Structured employment and training programmes that combine paid work with formal learning. Apprenticeships are commonly used as a social value commitment within UK procurement and social impact programmes.
Asset-Based Community Development (ABCD)
An approach to community development that starts with identifying a community's strengths, skills and existing assets rather than focusing solely on problems and deficits.
B
B Corp
A business certified by the non-profit organisation B Lab for meeting high standards of social and environmental performance, transparency and accountability.
Biodiversity
The variety of plant and animal life within an environment. Many ESG and social impact programmes now include biodiversity improvement alongside carbon reduction initiatives.
Built Environment
The buildings, spaces, infrastructure and places created or modified by people. This includes town centres, housing, public spaces, workplaces and transport infrastructure.
C
Carbon Reduction Plan
A documented commitment setting out how an organisation intends to reduce greenhouse gas emissions over time.
Charity
An organisation established exclusively for charitable purposes and public benefit, regulated by the Charity Commission in England and Wales.
Circular Economy
An economic model focused on reducing waste by keeping materials, products and resources in use for as long as possible through reuse, repair and recycling.
Community Engagement
The process of involving local people in decisions, projects and activities that affect their communities.
Community Interest Company (CIC)
A special type of company designed for organisations that want to use their profits and assets for public good. CICs are a common legal structure for social enterprises in the UK.
Community Wealth Building
An approach to economic development that seeks to retain wealth within local communities through local procurement, local employment and support for local businesses.
Corporate Social Responsibility (CSR)
A business approach focused on managing an organisation's social, environmental and ethical responsibilities. CSR is often considered a predecessor to modern ESG strategies.
D
Deadweight
Impact that would have happened regardless of an intervention. Measuring deadweight helps organisations understand their true additional impact.
Diversity, Equity and Inclusion (DEI)
Policies and practices designed to create fair opportunities and inclusive environments for people from all backgrounds.
E
ESG
Environmental, Social and Governance. A framework used by organisations and investors to assess sustainability, ethical performance and long-term resilience.
Environmental Impact
The positive or negative effect an organisation's activities have on the natural environment.
Evaluation
The process of assessing whether a project, programme or intervention achieved its intended outcomes.
F
Fair Work
Employment practices that provide fair pay, good working conditions, security and opportunities for progression. Fair work is increasingly referenced within public sector social value requirements.
G
Governance
The systems, controls and decision-making processes used to manage an organisation responsibly.
Green Skills
Skills required to support the transition to a low-carbon economy, including renewable energy, environmental management and sustainability expertise.
H
Hyperlocal Social Impact
Social impact focused on a specific neighbourhood, town, district or community rather than a wider regional or national area. Hyperlocal approaches prioritise place-based outcomes and community relationships.
I
Impact Measurement
The process of assessing, quantifying and reporting the difference an activity makes to people, places or the environment.
Impact Reporting
The communication of social, environmental and economic outcomes achieved through an organisation's activities.
Inclusion
Creating environments where all people feel valued, respected and able to participate fully.
L
Local Economic Value
The economic benefit retained within a community through local employment, local spending and support for local businesses.
Local Procurement
The practice of purchasing goods and services from organisations within a defined geographical area.
N
Net Zero
Achieving a balance between greenhouse gas emissions produced and emissions removed from the atmosphere.
National Procurement Policy Statement (NPPS)
The UK Government's strategic priorities for public procurement, which influence how public contracts are designed and awarded.
O
Outcomes
The changes, benefits or effects experienced by people, communities or environments as a result of an activity.
Outputs
The immediate products or activities delivered by a project, such as volunteer hours, training sessions or grants awarded.
P
Place-Based ESG
An approach to ESG that focuses on the impact an organisation has within specific locations and communities rather than solely at a corporate level.
Place-Making
The process of creating vibrant, attractive and inclusive places where people want to live, work and spend time.
Public Services (Social Value) Act
UK legislation that requires public bodies to consider economic, social and environmental benefits when procuring services.
S
Social Enterprise
A business that exists primarily to achieve social or environmental objectives and reinvests the majority of its profits towards those purposes.
Social Impact
The effect an organisation, project or activity has on people and communities.
Social Mobility
The ability of individuals to improve their social and economic circumstances regardless of their background.
Social Return on Investment (SROI)
A framework used to understand and measure the broader social value created by an investment or intervention.
Social Value
The additional economic, social and environmental benefits created beyond the direct purpose of an activity, investment or contract. In UK procurement, social value is increasingly embedded within contract evaluation and delivery requirements.
Social Value Model
The framework used by UK central government to assess social value within procurement processes. It focuses on outcomes such as employment, skills, community benefit and environmental improvement.
Stakeholder
Any individual or organisation affected by, interested in or able to influence an organisation's activities.
Sustainability
Meeting present needs without compromising the ability of future generations to meet their own needs.
V
Volunteering
The contribution of time, skills or expertise without financial reward to benefit individuals, communities or causes.
VCSE
Voluntary, Community and Social Enterprise. A collective term covering charities, social enterprises, community groups, cooperatives and other organisations working for social purpose.
W
Wellbeing
A broad measure of quality of life that includes physical health, mental health, social connection, financial security and life satisfaction.
Workforce Development
Activities designed to improve employee skills, capabilities and career progression opportunities.
Source set:
UK Government / official sources
- GOV.UK – PPN 026: The Social Value Model — particularly important because the Social Value Model has been updated in August 2026 and now focuses on British jobs and skills.
- GOV.UK – PPN 002: Taking account of social value in the award of contracts — useful for definitions and the relationship between social value and central government procurement.
- GOV.UK – PPN 003: The Public Services (Social Value) Act 2012 — the key source for the UK legislative background to social value.
- HM Treasury – The Green Book and accompanying guidance — useful for terms around appraisal, benefits, costs, impacts and value for money.
- GOV.UK – Homes England: Measuring Social Value — particularly relevant to CommonGood because it connects social value with regeneration, housing and thriving places.
- ONS – UK Measures of National Well-being — an excellent primary source for wellbeing terminology and measures at individual, community and national level.
B Corp / responsible business
- B Lab – Explore the B Lab Standards — the definitive source for B Corp terminology, standards and impact areas. The new standards cover seven social, environmental and governance topics.
- B Lab – Standards Development & Governance — useful for explaining the evolution of the B Lab Standards and concepts such as impact management, stakeholder engagement and community impact.
Social value / impact
- Social Value Portal – What is Social Value? — useful supplementary material for practical explanations of social value, measurement and the TOM System.
- Social Value Portal – Social Value Model supplier guide — useful for procurement-specific terminology, although I'd treat GOV.UK as the authoritative source wherever the two differ.
One thing I'd change from the original glossary
Because we're now in August 2026, I'd make sure the glossary reflects the current position rather than freezing it around the terminology that was being used in 2024/25.
For example, PPN 026 and the new Social Value Model were published on 5 August 2026, with the Government explicitly defining central-government social value around how suppliers contribute to communities through British jobs, skills and opportunities.
I'd therefore add a little "Last reviewed: August 2026" note to the glossary and distinguish between:
- UK-wide concepts — ESG, social impact, SROI, social enterprise etc.
- England-specific legislation/policy — Social Value Act, Procurement Act, BIDs etc.
- Central government procurement terminology — PPNs, Social Value Model, Carbon Reduction Plans etc.
- B Corp terminology — B Lab Standards, stakeholder governance, impact topics etc.
- CommonGood terminology — Hyperlocal Social Impact, Place-Based ESG, Whole-Place Approach, Community Impact etc.
