Unlocking Potential: Insights from Social Procurement Panel

The recent Social Impact Professionals Canada event in June focused on the transformative potential of social procurement, with insights from industry leaders Eric Saarvala (Raymond James Canada), Maya Roy (Coalition of Innovation Leaders Against Racism), and Sue Talusan (MaRS Discovery District). Moderated by Josee Thibault and hosted by Brad Offman, this panel discussion emphasized the importance of leveraging procurement to drive social impact and equity.

Understanding Social Procurement

Sue Talusan kicked off the discussion by defining social procurement and its significance. She explained that social enterprises reinvest their profits to further social, environmental, and economic goals, differentiating them from traditional businesses. This holistic approach includes supporting marginalized communities and promoting environmental sustainability. Sue highlighted the potential of social procurement to drive systemic change through several examples of organizations (including the City of Toronto) that revised procurement policies to engage social enterprises.

Procurement as a Tool for Equity

Maya Roy emphasized the power of procurement in promoting business equity and community prosperity. She discussed the importance of tapping into the talents of Black, Indigenous, and racialized communities, as well as unhoused individuals with valuable skills. Maya highlighted the Coalition of Innovation Leaders Against Racism’s efforts to connect large companies with smaller, diverse enterprises. She noted the significant productivity and happiness gains that come from diverse teams, reinforcing that social procurement is not just a moral imperative but also a business advantage.

Integrating Social Procurement with Sustainability

Eric Saarvala shared his journey of integrating social procurement within Raymond James Canada’s sustainability and inclusion initiatives. He discussed the challenges of implementing sustainable procurement without a centralized procurement department and emphasized the need for a broader impact approach beyond just green initiatives. Eric underscored the importance of aligning procurement practices with organizational values and the Truth and Reconciliation Commission’s calls to action, advocating for the use of Indigenous suppliers.

Practical Steps and Success Stories

The panel provided practical steps for organizations to start or enhance their social procurement journeys. Sue recommended conducting a procurement spend audit to identify potential areas for engaging community-based suppliers. Eric highlighted the importance of training and avoiding greenwashing, urging organizations to report authentically on their social impact efforts. The discussion concluded with examples of successful social procurement initiatives, such as using Second Harvest’s food rescue app to address food insecurity.

Conclusion

The Social Impact Professionals Canada event underscored the transformative potential of social procurement in driving equity, sustainability, and community prosperity. By integrating social values into procurement practices, organizations can unlock the full potential of diverse and marginalized communities, fostering a more inclusive and resilient future.