The Institute of Economic Development (IED) has become an official supporter of the UK Green Building Council (UKGBC) Defining Social Value Task Group – https://www.ukgbc.org/ukgbc-work/social-value-task-group/ – which is aiming to develop, via consultation, an industry-led definition for social value.

In June, the IED published its own research, From the Ground Up – Improving the Delivery of Social Value in Construction, which found that there is a “high risk of social value becoming too diffuse and lacking focus” and called for an immediate step change in procurement, delivery and monitoring impact. It made five recommendations, one of which was to agree a definition of social value, and what activities are within scope, for the construction sector.

IED Chair Bev Hurley CBE said: “There is clear alignment between our findings and recommendations, and the work of the UKGBC on social value – https://www.ukgbc.org/ukgbc-work/social-value-programme/ – and it makes absolute sense for us to become an industry supporter of the task group. We are delighted to have the opportunity to collaborate going forwards, working in parallel but also feeding into each other’s activity. The more voices we have cohered around the same table, the more chance we have of delivering a step-change on social value.”

As an extension of this relationship, the UKGBC’s Sustainability Advisor Sophia Cox will facilitate an upcoming CPD workshop on measuring social value. The IED has already held or has scheduled a series of roundtables, linked to the recommendations in From the Ground Up – Improving the Delivery of Social Value in Construction, on Improving Community Engagement and Scoping a Centre of Excellence.

Meanwhile, Bev Hurley CBE was a guest speaker at a Constructing Excellence South West webinar and the Chartered Institute of Public Finance and Accountancy (CIPFA) Procurement and last month. “Together with the huge media interest in our social value report, the series of roundtables, CPD workshops and external speaking opportunities is giving tremendous momentum to our work,” Bev explained.

The full IED report, From the Ground Up – Improving the Delivery of Social Value in Construction, can be downloaded at www.ied.co.uk/insights, where the Executive Summary and case studies are also available.