On Another Level: Can social value really be bottled?
Social sustainability has been rising up real estate’s agenda, seemingly soon to emerge finally from the shadow of its higher profile sibling – environmental sustainability – among the ESG triplets.
Over the past couple of years, there has been a growing focus on the social impact from real estate. Those working in the sector have long been able to speak passionately about the capacity of our built environment to shape our lives – for better and for worse – and many will attribute their careers in the industry to the recognition that, through curating our urban realm, they can create tangible impact for society (as well as the economy).
And yet real estate often struggles with a negative perception. The new Labour government’s flagship ambition – a housebuilding and infrastructure boom – could yet be about to sail through the troubled waters of people sceptical of the motivations of the property sector. A greater emphasis on, and visibility for, social sustainability therefore seems necessary not only to win over hearts and minds, but to truly ensure delivery of the new homes, offices, warehouses, and infrastructure we need.
Done well, regeneration can have a transformational impact on communities, creating opportunities and improving lives. Yet too often regeneration is seen as a byword for gentrification and is met with local resistance. So what makes regeneration and community building and successful and can that ‘secret sauce’ be bottled?
Everyone knows the built environment is responsible for c. 40% of our carbon emissions – providing a tangible figure to drive down – so how can we replicate that in the social sphere?
In the latest episode of On Another Level, The Clarendon Works’ podcast looking at the future of the built environment, we look at new ways to quantify and measure the positive social impact of development. With ever more complex metrics and digital technology being used to record impact, is this being driven by a need to attract ESG-focused investment or by a desire to demonstrate value to communities and stakeholder? Is it even possible to objectively measure social value? And does it actually matter?
On Another Level’s host, former Bloomberg journalist Naomi Kerbel, speaks to two of the UK’s most influential voices on social value – who have literally helped shape the social value landscape and regulation that governs the industry – to understand how the sector has evolved and where it’s going from here.
> Caron Dunlop, Technical Director (Social Value), Mott MacDonald
> Guy Battle, CEO and founder, Social Value Portal
The sixth and final episode of On Another Level will bring all of the strands we’ve covered over the past six months and look, with the benefit of a new government in place, what does a Labour government really mean for the future of the built environment.
Listen to Naomi’s conversation with Caron and Guy on Apple and Spotify.
