102
7 Discourses of Social Investment …
social investment programmes, which, discursively, brings social investment closer
to a participatory approach.
The Community-Driven Development document also acknowledges the importance of having the government actively involved in social investment programmes:
“When local governments interact with communities and informal groups in a participatory way, it is possible to achieve economies of scale in producing and providing
goods and services that could not be achieved by CBO [Community Based Organisation] operating individually” (WBG, 2002, p. 322). However, social investment
experts in my research complained about the lack of government participation in
designing, implementing and maintaining social programmes (I consider this further
in Chapter 8).
The following section will focus on how the two guideline documents draw on
working for discourses.
7.5 The Guideline Documents and Working for Discourses
of Social Investment
Working for discourses underpin social investment developed under legislation.
Within these discourses, the company is expected to provide social services and/or
goods in order to obtain or maintain an operational license. Working for discourses
promote the understanding that businesses should serve society and integrate social
demands and values into their business strategies. Furthermore, these discourses
position social investment as an instrument to assist the government in delivering
social goods in order to meet its development agenda.
Neither the World Bank Group nor the IFC guidelines directly mention that
companies should fund social investment programmes as a response to a legal requirement. The only segment that indirectly relates to working for discourses is the IFC
Performance Standards’ extract that acknowledges companies’ investments may
be subject to the national law: “In additional to meeting the requirements under
the performance Standards, clients must comply with applicable national law …”
(Torrance, 2012, p. 31). However, this segment does not imply that the social investment is a compliance mechanism, and no other segment in the IFC and World Bank
Group guideline documents make reference to private social investment subject to
legal requirements. On the other hand, the guideline documents introduce an alternative understanding of working for discourses of social investment, to that revealed in
participants’ interviews (see Chapter 6). Community-Driven guidelines in particular
claim that communities, instead of companies, may financially assist the government
in delivering social goods:
Mandatory contributions have been shown to be important in building community ownership, helping to ensure that cost- and service level are not distorted by external grants, and
ascertaining through willingness to pay that services respond to real demand – all of which
contribute to greater sustainability. (WBG, 2002, p. 319)
7 Discourses of Social Investment …
social investment programmes, which, discursively, brings social investment closer
to a participatory approach.
The Community-Driven Development document also acknowledges the importance of having the government actively involved in social investment programmes:
“When local governments interact with communities and informal groups in a participatory way, it is possible to achieve economies of scale in producing and providing
goods and services that could not be achieved by CBO [Community Based Organisation] operating individually” (WBG, 2002, p. 322). However, social investment
experts in my research complained about the lack of government participation in
designing, implementing and maintaining social programmes (I consider this further
in Chapter 8).
The following section will focus on how the two guideline documents draw on
working for discourses.
7.5 The Guideline Documents and Working for Discourses
of Social Investment
Working for discourses underpin social investment developed under legislation.
Within these discourses, the company is expected to provide social services and/or
goods in order to obtain or maintain an operational license. Working for discourses
promote the understanding that businesses should serve society and integrate social
demands and values into their business strategies. Furthermore, these discourses
position social investment as an instrument to assist the government in delivering
social goods in order to meet its development agenda.
Neither the World Bank Group nor the IFC guidelines directly mention that
companies should fund social investment programmes as a response to a legal requirement. The only segment that indirectly relates to working for discourses is the IFC
Performance Standards’ extract that acknowledges companies’ investments may
be subject to the national law: “In additional to meeting the requirements under
the performance Standards, clients must comply with applicable national law …”
(Torrance, 2012, p. 31). However, this segment does not imply that the social investment is a compliance mechanism, and no other segment in the IFC and World Bank
Group guideline documents make reference to private social investment subject to
legal requirements. On the other hand, the guideline documents introduce an alternative understanding of working for discourses of social investment, to that revealed in
participants’ interviews (see Chapter 6). Community-Driven guidelines in particular
claim that communities, instead of companies, may financially assist the government
in delivering social goods:
Mandatory contributions have been shown to be important in building community ownership, helping to ensure that cost- and service level are not distorted by external grants, and
ascertaining through willingness to pay that services respond to real demand – all of which
contribute to greater sustainability. (WBG, 2002, p. 319)