Dubai: Dubai Electricity and Water Authority (Dewa) has conducted a Social Return on Investment (SROI) analysis of the first phase of its project to retrofit a number of villas in the Mohammad Bin Rashid Housing Establishment community.

The project is replacing lighting bulbs with energy-saving LED lamps, as well as raising awareness about energy efficiency and reducing the demand for energy.

The study showed an SROI of Dh2.87 for every dirham Dewa invested in the project. The result was accredited by Social Value UK. Dewa said it is one of the first organisations in the region to use the SROI methodology and the first government organisation in the region to issue an accredited report to reflect the environmental and social value of investments, which is not reflected in traditional financial accounts.