MYTILINEOS assesses and measures the social impact of five social programs

MYTILINEOS, in 2022, analyzed the social value of programs through the Social Return on Investment (SROI) methodology^[1], which is an innovation and a breakthrough in the field of industry. It concerns an internationally recognized and holistic approach whereby the Company calculates the impact it creates and makes informed decisions, aiming to maximize the value that the investment returns for each social program. The methodology focuses on the changes experienced by the parties involved throughout the program.

In particular, the results of five main social programs implemented by the Company were analyzed, demonstrating that the total investment of €500,000 yielded approximately €2 million of social value. The SROI indices ranged at high levels, namely from 3.24:1 to 5.45:1. This means that for each Euro invested in each program, the social value produced respectively ranged from EUR 3.24 to EUR 5.45.

In particular:

#HoMellon program (UN Sustainable Development Goal 1) – MYTILINEOS, in collaboration with Knowl, created the Social Accelerator of Skills #HoMellon to help homeless people and people living in precarious housing conditions join the labor market with the participation of a total of 50 benefited parties; 58% of them are already employed, 14% have acquired their own domicile and the rest seek to improve their lives.

• For the program's two implementation cycles (July 2020-November 2020 and March 2021-October 2021) the SROI analysis found that for the total investment of €96.000, an amount of €222.224,19 is attributed to social and economic benefits. This is equivalent to an SROI index ratio of 3.32: 1, suggesting that for every €1 invested in the #Homellon program, a return of €3.32 in social value was achieved.  

#Mellonabilities program (UN Sustainable Development Goal 10) - in cooperation with Knowl, MYTILINEOS created the Social Accelerator of Skills #mellonabilities aiming to provide personalized professional skills development to 50 people with motor, visual and auditory impairment to help them develop and join the labor market at zero cost. 14% of participants already have a job while 16% received professional certification acquiring useful knowledge and skills.

• For the program's two implementation cycles (June 2021-February 2022 and May 2022 -November 2022), the SROI analysis found that for the total investment of €78,000, an amount of €274,958.07 is attributed to social and economic benefits. This is equivalent to an SROI index ratio of 3.53: 1, suggesting that for every €1 invested in the #mellonabilities program, a return of € 3.53 in social value was achieved.  

 Emergency Food Fund – for Kids program (UN Sustainable Development Goal 2) – MYTILINEOS, in cooperation with the Food Bank, implemented the “Emergency Food Fund – for Kids” program, covering the needs of at least 25 breadlines and institutions in Attica to support children (a) of many-member families, (b) children living in institutions and (c) children with disabilities. In particular, MYTILINEOS secured 108.924 glasses of milk and cereals to 9.159 children, 299 of whom live in institutions and 3.532 are disabled children.

• For the two years (2021-2022) of the program implementation, the SROI analysis found that for the total investment, amounting to €40.000, an amount of € 195.331.03 is attributed to social and economic benefits. This is equivalent to an SROI index ratio of 4.88: 1, suggesting that for every €1 invested in the Emergency Food Fund – for kids program, a return of € 4.88 in social value was achieved.  

Diatrofi  program (UN Sustainable Development Goal 2) - MYTILINEOS, together with the Prolepsis Institute, reduces food insecurity and promotes healthy nutrition to students in primary and secondary education schools with increased food insecurity index, offering daily healthy, high-quality meals through the “DIATROFI” program. The program has benefited a total of 1,048 students from 27 schools in Attica and Viotia Prefectures, receiving 104,838 healthy school meals.

• For the total investment of the program lasting from 2018 to 2022, an amount of €192,664.05 is attributed to social and economic benefits, equaling in social value the amount of €1,050,175.01, providing a ratio of the SROI index 5.45:1, indicating that for every €1 invested in the NUTRITION Program, €5.45 in social value were returned.

Mission Woman 45+: We Embrace-live her needs (UN Sustainable Development Goal 3) - in collaboration with “Mission ANTHROPOS”, MYTILINEOS offered free of charge a comprehensive preventive medical screening including blood and gynecological tests to 156 vulnerable women aged 45 years.

• The SROI analysis for the period 16 February 2022 – 10 March 2023 found that for the total program investment amounting to € 47,940, an amount of €155,322.86 is attributed to social and economic benefits. This is equivalent to an SROI index ratio of 3.24: 1, suggesting that for every €1 invested in the program WOMAN 45+: We embrace her needs, an amount of €3.24 of social value was returned.  

More information on the SROI results can be found on MYTILINEOS website: https://www.mytilineos.com/sustainability/reports/sustainable-development-reporting/ .

[1] It calculates the social-economic value produced by a program or action. It tells the story of the “Theory of change” brought about by the activity to every stakeholder involved, by way of measuring social, environmental and economic outcomes, and using monetary values to assess them.