u003ca class=u0022Hyperlink SCXW103815772 BCX4u0022 href=u0022https://socialvalueportal.com/u0022 target=u0022_blanku0022 rel=u0022noreferrer noopeneru0022u003eu003cspan class=u0022TextRun Underlined SCXW103815772 BCX4u0022 lang=u0022EN-GBu0022 xml_lang=u0022EN-GBu0022 data-contrast=u0022noneu0022u003eu003cspan class=u0022NormalTextRun SCXW103815772 BCX4u0022 data-ccp-charstyle=u0022Hyperlinku0022u003eSocial Value Portalu003c/spanu003eu003c/spanu003eu003c/au003eu003cspan class=u0022TextRun SCXW103815772 BCX4u0022 lang=u0022EN-GBu0022 xml_lang=u0022EN-GBu0022 data-contrast=u0022autou0022u003eu003cspan class=u0022NormalTextRun SCXW103815772 BCX4u0022u003e and u003c/spanu003eu003c/spanu003eu003ca class=u0022Hyperlink SCXW103815772 BCX4u0022 href=u0022https://www.scape.co.uk/u0022 target=u0022_blanku0022 rel=u0022noreferrer noopeneru0022u003eu003cspan class=u0022TextRun Underlined SCXW103815772 BCX4u0022 lang=u0022EN-GBu0022 xml_lang=u0022EN-GBu0022 data-contrast=u0022noneu0022u003eu003cspan class=u0022NormalTextRun SCXW103815772 BCX4u0022 data-ccp-charstyle=u0022Hyperlinku0022u003eScapeu003c/spanu003eu003c/spanu003eu003c/au003eu003cspan class=u0022TextRun SCXW103815772 BCX4u0022 lang=u0022EN-GBu0022 xml_lang=u0022EN-GBu0022 data-contrast=u0022autou0022u003eu003cspan class=u0022NormalTextRun SCXW103815772 BCX4u0022u003e have released their 2023 social value survey findingsu003c/spanu003eu003c/spanu003eu003cspan class=u0022EOP SCXW103815772 BCX4u0022 data-ccp-props=u0022{u0026quot;201341983u0026quot;:0,u0026quot;335559739u0026quot;:160,u0026quot;335559740u0026quot;:259}u0022u003e u003c/spanu003e
The construction industry delivered £1.08bn in social value during 2022, according to new findings from the Social Value Portal and Scape.
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The data also shows overall total social value return on investment increased by more than 4% from 19.55% in 2021 to 23.62% in 2022.
Social value trends
u003c!u002du002d wp:list u002du002du003ernrnu003cspan class=u0022TextRun SCXW26013101 BCX4u0022 lang=u0022EN-GBu0022 xml_lang=u0022EN-GBu0022 data-contrast=u0022autou0022u003eu003cspan class=u0022NormalTextRun SCXW26013101 BCX4u0022u003eThe u003cemu003eu003cspan class=u0022TextRun Underlined SCXW253673565 BCX4u0022 lang=u0022EN-GBu0022 xml_lang=u0022EN-GBu0022 data-contrast=u0022noneu0022u003eu003cspan class=u0022NormalTextRun SCXW253673565 BCX4u0022 data-ccp-charstyle=u0022Hyperlinku0022u003eSocial Value in Construction Benchmarking Reportu003c/spanu003eu003c/spanu003eu003c/emu003e has u003c/spanu003eu003cspan class=u0022NormalTextRun SCXW26013101 BCX4u0022u003eidentifiedu003c/spanu003eu003cspan class=u0022NormalTextRun SCXW26013101 BCX4u0022u003e key social value trends u003c/spanu003eu003cspan class=u0022NormalTextRun SCXW26013101 BCX4u0022u003eincludingu003c/spanu003eu003cspan class=u0022NormalTextRun SCXW26013101 BCX4u0022u003e: u003c/spanu003eu003c/spanu003eu003cspan class=u0022EOP SCXW26013101 BCX4u0022 data-ccp-props=u0022{u0026quot;201341983u0026quot;:0,u0026quot;335559739u0026quot;:160,u0026quot;335559740u0026quot;:259}u0022u003e u003c/spanu003ernu003culu003eu003c!u002du002d wp:list-item u002du002du003ern tu003cliu003eCollaboration is vital to making sure social value is created, measured and celebrated in a consistent way, by sharing knowledge and resources across the industry.u003c/liu003ernu003c!u002du002d /wp:list-item u002du002du003e u003c!u002du002d wp:list-item u002du002du003ern tu003cliu003eThere is greater demand for the qualitative aspects of delivery, such as sharing real life stories and community impact to improve understanding of social value.u003c/liu003ernu003c!u002du002d /wp:list-item u002du002du003e u003c!u002du002d wp:list-item u002du002du003ern tu003cliu003eSocial value has been embedded into public sector contracts for a decade and the principles for its delivery and measurement are now starting to be adopted more widely in private sector contracts.u003c/liu003ernu003c!u002du002d /wp:list-item u002du002du003e u003c!u002du002d wp:list-item u002du002du003ern tu003cliu003eAppetite for the measurement and reporting of environmental performance remains high on the list of priorities.u003c/liu003ernu003c!u002du002d /wp:list-item u002du002du003eu003c/ulu003ernu003c!u002du002d /wp:list u002du002du003e
According to the report, local spend and employment measures continue to provide the bedrock of the social value generated. However, there is a more diverse range of other social value delivery also taking place, including the increased use of environmental measures to support regional and national decarbonisation targets.
Nathan Goode, the Social Value Portal’s chief strategy officer, said: “The construction industry was an early adopter of social value, and this report shows that momentum is being sustained. Companies in the sector have built social value into their business models and are now looking to move social value onto the next stage.
“This third annual Social Value in Construction Benchmarking Report reveals a number of significant trends – most notably increasing focus on environmental concerns and a desire for greater collaboration and adoption of social value in the private sector, all of which will be interesting to monitor and report on over the coming years.
“Historically, social value return on investment has been thought of as something that can only be delivered through large projects. This report serves to demonstrate that projects of varying sizes can – and do – have a meaningful impact.”
Industry insight
For the first time, all 23 Scape delivery partners participated in a survey which reflected views across the industry about the future of social value measurement and reporting.
According to the survey, 65% of respondents believe there is a wide variance when it comes to social value in the construction sector, with some areas showing innovation and leadership and others still at an early stage on their journey.
The survey found 75% believe they or their colleagues would benefit from additional training on using the social value measurement and reporting tool, the Social Value TOM System, as well as on social value in general.
Scape’s social value and performance manager, Alison Ramsey, said: “Social value is a key criterion in Scape’s process when appointing delivery partners to a framework, so it’s encouraging to see that all of our partners not only fully embrace and embed social value within the construction industry, but also have a significant appetite to do more, moving on to the next stage of the social value journey.
“In the overall process of delivering construction projects, social value is one of a number of priorities, so there is a shared responsibility to ensure it’s embedded as efficiently as possible in order to maximise the opportunities.
“The findings of the report, combined with discussions amongst industry partners, show a sector that is rapidly maturing in its approach to social value.”
Last month, the Chartered Institute of Building (CIOB) published a special report which explores the opportunities and challenges that SMEs can face on the social value journey.
The report, Social value and SMEs: It’s not going away, provides insight from businesses that are embracing social value, as well as practical advice and resources.
