Big Society Capital has announced new transparency proposals following a consultation, after admitting earlier this year that it has not been open enough with the sector.

In the consultation, which started in July and ran for six weeks, respondents largely agreed with the proposals BSC had made, despite some believing that they "should go further" to increase transparency and raise awareness of social investment.

BSC said it did not receive any significant objections to its proposals, and will be implementing them over the next year.

BSC said that by the end of the year it will publish historical deal-level data up to September 2015 on the investments made into charities and social enterprises, it will then continue to publish these twice yearly.

It will also publish one page summaries of the ‘what’ and ‘why’ each investment by BSC was made, as soon as it is made, as well as publish its portfolio breakdown across geography and sector twice a year.

BSC has also said it will publish an abridged version of its internal investment manual, and developed tools to encourage transparency. It also intends to develop a signposted annual report and publish a list of market champion projects.

BSC also said it would hold a town hall meeting with Big Society Capital board members, to ensure the public can engage with them and understand their decision making.

It added that it will also discuss with Big Society Trust about publishing further information on their decision making.

Nick O’Donohoe, chief executive of Big Society Capital, said: “These proposals represent a significant step forward, not only for Big Society Capital, but for the wider social investment market. We looked at best practice across comparable organisations and worked closely with stakeholders to develop a set of measures that we will put into practice.

“In particular, we hope that deal level data will improve understanding of the social investment market while giving our stakeholders a greater understanding of how Big Society Capital operates. We recognise these measures are just the beginning and we will continue to build on them.”

Big Society Capital said that further measures will continue into and beyond 2016, including “publishing an abridged investment manual, providing information about Big Society Capital’s operational costs alongside its annual report, and the development of a transparency charter for the wider social investment market”.

Its full list of measures can be found in its report Transparency - next steps.