Social value roadmap for real estate
As a firm we have a long history of exploring the link between real estate and societal value, and achieving positive and sustainable social outcomes.
Real estate has a huge role to play not only for the benefit of the economy and in creating a better built environment but in directly benefitting the communities who occupy and use those spaces. As an engaged and interested part of this industry we see the benefits good development can bring and we’re passionate about helping to deliver places that enhance people’s lives.
We have been working with the Social Market Foundation on a campaign looking into the role of social value in real estate decision-making in the UK. On the back of a series of papers produced over the last six years, in March we published our Investing in Social Value paper bringing views from investors and other leading voices across the real estate sector including Abrdn, BNP Paribas Real Estate, Countryside Properties, Derwent London, Galliford Try, Legal & General Capital, M&G Real Estate, Newcore Capital Management, Urban&Civic.
This latest paper sets out nine recommendations for how central and local government, designers, developers and the financial services industry can work together to maximise social value.
One aspect that is ever more apparent is the intrinsic link between the wellbeing of society and the impacts of climate change. Throughout the research and the discussions we have had this year, there seems to be a growing desire in the industry to look at how we can address both the need to protect the environment as well as improve our communities at the same time. For example, if we can find ways to offset the carbon footprint of our buildings in a way that directly benefits the communities.
We need to act now and indeed there are inspiring examples across the industry of how we can think differently. We look forward to continuing to engage around this topic and play a small part in delivering that change.