01 DEC 2022

For every €1 invested in the #HoMellon program, MYTILINEOS returned €3.32 in social value

Athens, Greece – 1 December 2022 – The two-year cycle of the social program, “#HoMellon” by MYTILINEOS, was completed in cooperation with the Social Enterprise knowl. The program’s main purpose was to help reintegrate into the labor market, citizens who were housed in long/short-term homelessness structures or were living in precarious conditions.

A total of 50 individuals participated during the implementation of the two-cycle program. The challenge of it was the combination of: (a) customized education and the development of professional and other skills, (b) improvement of their self-confidence and optimism, and (c) linking to the labor market, in order to assert and maintain a place in the labor market.

The results justify MYTILINEOS’ initiative, since 29 of the 50 participants in the program have already found a job, and 7 of them are now living in their own homes. 

Upon completion of the program, MYTILINEOS identified and analyzed its social value through the methodology Social Return On Investment (SROI)[1]. The Company applies this methodology in the significant social programs it implements, constituting an innovation and a pioneering method in the field of industry.

According to this analysis, the total investment for the #HoMellon program generated a social value of € 222,224,

with SROI index equal to 3.32:1.

Specifically, for every € 1 invested in this program, €3.32 of social value were retributed, highlighting the program’s social and economic value for both the beneficiaries and the community.

According to the analysis, the significant positive social impact and main changes experienced by the direct beneficiaries were the following: finding a job, which led to an increase in personal income, a strengthening of their skills in dealing with difficult situations, an increase in their resilience and, overall, a better psychological state. In addition, the program has generated multiple benefits not only for the main beneficiaries, but also for each party involved in its implementation. Research shows that continued training, education, and empowerment is an effective solution to support homelessness.

As underlined by the General Manager Corporate Governance & Sustainable Development of MYTILINEOS, Dimitris Papadopoulos: "We are very proud that one more social program leaves such a strong positive social footprint. We are in a constant effort to link our business development with fair social development in our country, and we want our footprint to continue growing, consistently contributing to the support of our fellow citizens who face economic distress and social exclusion, beyond all forms of discrimination."

The "HoMellon" program is a part of the Responsible Entrepreneurship actions by MYTILINEOS implemented to "Reduce Inequalities", one of the six main directions it has endorsed in the context of contributing to the Sustainable Development Goals.

The "Social Performance Measurement Report of the Program I AM IN" is available at: https://www.mytilineos.gr/sustainability/reports/sustainable-development-reporting/


[1] SROI: 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 results, and using monetary values to assess them.

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