Calculating the Effectiveness of Corporate Social Innovation (CSI) using the Social Return on Investment (SROI) Method: The Fisherman Community Empowerment Program
Journal Title: International Journal of Multidisciplinary Research and Analysis - Year 2024, Vol 7, Issue 06
Abstract
PT Pertamina Lubricants is a subsidiary of the Indonesian state-owned oil and gas company Pertamina. The company has three production facilities located in Jakarta, Cilacap, and Gresik. PT Pertamina Lubricants Production Unit Cilacap is committed to implementing environmental and social responsibility well through Corporate Social Innovation. The programs are closely related to implementing sustainable development, which focuses on environmental issues and includes two other aspects: economic and community empowerment (People, Profit, and Planet). One of the programs specifically targets fishermen groups, called Pertamina Sahabat Nelayan (Pertamina Friends of Fishermen), an empowerment program by PTPL in Cilacap, using the Return On Investment (SROI) method. SROI is a method used by companies to measure the return on business investment for a program or social activity organized using a financial quantification (monetization) calculation approach. Data collection was obtained through in-depth interviews with members of fishermen groups in Tambakreja Village, the local government, beneficiary communities, and other stakeholders. The SROI calculations show that the Pertamina Friends of Fishermen program has created excellent value. With Pertamina’s investment, Pertamina Lubricants Production Unit Cilacap’s program has positively impacted society. This is indicated by the SROI ratio in the program’s first year, which resulted in an SROI ratio of 1:3.59.
Authors and Affiliations
Fendy Eko Wahyudi, Muhammad Subhan, Betie Febriana, Asri Nur Aini
Keywords
Related Articles
- EP ID EP736689
- DOI 10.47191/ijmra/v7-i06-16
- Views 15
- Downloads 0
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