PPPs and non-financial value: a critical analysis of public policy and implications for social, environmental and indigenous cultural values

Gordon Boyce and Lachlan McDonald-Kerr

Meditari Accountancy Research, 2020, vol. 29, issue 2, 324-344

Abstract: Purpose - This paper investigates how contemporary public policy for public-private partnerships (PPPs) deals with non-financial values and thereby shapes the way social, cultural and environmental issues are accounted for. Design/methodology/approach - A case study critically analyses PPP policy in Victoria, Australia, an acknowledged leader in the area. The investigation of the policy’s approach to non-financial value focusses on the treatment of social and environmental issues, particularly in relation to indigenous cultural heritage values. Findings - It is found that important non-financial issues are characterised as risks to be quantified and monetised in PPP project assessment. A critical analysis shows that this approach obscures many significant dimensions of social, environmental and Indigenous cultural heritage value. The resultant relegation of non-financial values in public discourse and decision-making is seen to entrench unsustainable practices. Social implications - The paper shows how public policy may shape actions and outcomes that impact directly on social, environmental and indigenous cultural heritage values. Originality/value - This study provides insights into contemporary social and environmental accounting and accountability for PPPs. It adds to the understanding of the implications of public policy framings of non-financial values.

Keywords: Accountability; Risk; Public policy; Cultural heritage; Indigenous; Social and environmental accounting; Non-financial value; Public-private partnerships (PPPs) (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:medarp:medar-02-2020-0775

DOI: 10.1108/MEDAR-02-2020-0775

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