Evaluating the Social Value of Corporate Social Responsibility through Social Return on Investment (SROI)
A Case Study of the Garitan Kalongliud Program at PT ANTAM (Persero) Tbk Gold Mining Business Unit
Keywords:
Corporate Social Responsibility, Social Return on Investment, Community Empowerment, Mining Industry, Sustainable Agriculture, Social Value, Sustainable DevelopmentAbstract
Purpose – Despite the increasing implementation of Corporate Social Responsibility (CSR) in the mining sector, empirical evidence quantifying the multidimensional social value generated by integrated community empowerment programs remains limited. This study evaluates the social value created by the Garitan Kalongliud CSR Program implemented by PT ANTAM (Persero) Tbk Gold Mining Business Unit using the Social Return on Investment (SROI) framework.
Design/methods/approach – A qualitative case study combined with the SROI framework was employed. Data were collected through semi-structured interviews, focus group discussions, field observations, and document reviews. The analysis followed the six stages of SROI, including stakeholder identification, Theory of Change development, outcome valuation using financial proxies, impact adjustment, and SROI ratio calculation.
Findings – The program generated significant social, economic, environmental, and wellbeing outcomes. With a total investment of IDR 276,450,415, the program created IDR 1,199,184,896 in social value, resulting in an SROI ratio of 4.34:1, indicating that every IDR 1.00 invested generated IDR 4.34 in social value. Key outcomes included increased household income, reduced agricultural production costs, strengthened farmer institutions, improved community capacity, and greater adoption of sustainable agricultural practices.
Research implications/limitations – This study is limited to a single CSR case in Indonesia, which may restrict the generalizability of the findings. Future research should compare SROI across different mining CSR programs and regions.
Originality/value – This study extends the application of the SROI framework to an integrated circular agriculture CSR program in the mining sector and provides empirical evidence that productive, community-based CSR initiatives create multidimensional social value, offering practical insights for designing more effective and sustainable CSR strategies.
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