Planning

Value to investors of non-financial reporting: early market engagement

BUSINESS ENERGY AND INDUSTRIAL STRATEGY

This public procurement record has 1 release in its history.

Planning

17 Aug 2022 at 12:35

Market Engagement Notice
Summary of the contracting process

The Business Frameworks Directorate in the Department for Business, Energy and Industrial Strategy (BEIS) is planning a tender titled "Value to investors of non-financial reporting: early market engagement" in the social research services industry. The contracting authority, Business Energy and Industrial Strategy, located at 1 Victoria Street, London, SW1H0ET, England, is seeking to understand the value investors place on non-financial reporting requirements. The procurement stage is in the planning phase, with the engagement end date set for 26th September 2022.

This tender provides an opportunity for businesses, particularly those in social research services, to engage with BEIS in conducting research on non-financial reporting value to investors. Small and medium-sized enterprises (SMEs) are well-suited for this tender. BEIS aims to discuss the requirement during a pre-market supplier day on 26th September 2022, potentially leading to individual discussions with suppliers about the specification. Interested parties can register on the Research Insights Framework, a Dynamic Purchasing System agreement, to participate in this tender opportunity.

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Notice Information

Notice Title

Value to investors of non-financial reporting: early market engagement

Notice Description

The Business Frameworks Directorate in the Department for Business, Energy and Industrial Strategy (BEIS) wishes to understand what value investors place on non-financial reporting requirements in the Companies Act 2006. There has been growing interest from lobbyists and stakeholders in requiring companies to provide information on how their activities impact on wider society; and how companies could be used to deliver societal change. This has led to companies being required, via the Companies Act, to provide non-financial reporting (NFR) to allow stakeholders to assess a company's performance against several key areas. Whilst it is difficult, but feasible, to assess the costs for companies to produce this information, it has been challenging to quantify the benefit to users given that the information is provided freely. In the absence of a market for non-financial information, non-market valuation techniques are required to estimate benefits. Investors are seen as an important group driving non-financial reporting disclosures as they perceive NFR activity by preparers as a sign that preparers are engaging in risk management activity . For example, the "logic model" for non-financial reporting assumes that : * Users receive relevant and useful NFR information, * Users better understand non-financial risks, and some decisions, e.g. investment decisions, change in scope, timing or scale, as a result of this information; and results in * More informed investment, business or other decisions that lead to better social outcomes. Therefore, the NFR "narrative" places those that make investments, i.e. investors who are mainly intermediaries, as the agents by which social outcomes would be transformed by NFR. The aim of this research is to assess the extent to which this assumption is correct: in particular whether those who make investment decisions place a positive, and significant, value on NFR, and on what NFR in particular. The research will also consider direct and indirect channels for generating value. For example, NFR may add value directly through better risk management and lower costs; or indirectly through a better brand, which people are willing to pay more to "buy" into. The population of interest is investors. The group of investors should be representative of the market and include a mix of active and passive investors . Identifying the population of investors is likely to be the most challenging part of the brief and we would like to discuss ideas with potential bidders during the early market engagement. Following the early market engagement event, we would welcome individual discussions with suppliers to discuss the specification in more depth. Bidders should consider in their bids whether it would be desirable to include at least one financial reporting attribute in the attribute set to provide an accurate valuation of NFR attributes. Additional information: BEIS are undertaking a pre-market supplier day to discuss this requirement with anyone interested in being involved. The session will be held on 26 September 2022 @ 14:00hrs (2pm). If you're interested please contact Neil Golborne, email: Neil.Golborne@beis.gov.uk who will forward contact information. We are looking to procure this through the Research Insights Framework. Since this is a Dynamic Purchasing System agreement anyone interested can register to be on the framework agreement and so have an opportunity to submit a tender. To register on DPS - to see guidance on how suppliers can join the framework, please visit the following link https://supplierregistration.cabinetoffice.gov.uk/dps# and scroll down the page until you see the Marketing Communications section. If you encounter problems accessing this please contact Crown Commercial Service on 0345 410 2222.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-dac9e4ae-6883-4e38-ba60-c05a29c68778
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/40e348f5-a903-4bf2-8bd6-3f0ca8879f26
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Market Engagement Notice
Procurement Type
Dynamic, Framework
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79315000 - Social research services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
17 Aug 20223 years ago
Submission Deadline
Not specified
Future Notice Date
26 Sep 2022Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BUSINESS ENERGY AND INDUSTRIAL STRATEGY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1H 0ET
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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