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    • GN8.1: What is social value?
    • GN8.2: Social value opportunities
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GN 8.2: Social value opportunities

Guidance Note purpose 

The purpose of this Guidance Note is to provide asset managers, property managers and facilities managers with information that will help to guide the development of social value activities in relation to commercial real estate.  

Context 

The real estate sector directly employs over 2.4 million people and contributes £117bn to the UK economy, representing six percent of total economic output and generating one million jobs a year.  The associated potential to generate social value is significant and conservatively could create additional value of over £30bn per year1. 

There are many ways to deliver social value.  Identifying and prioritising stakeholders’ social value needs can help to shape the social value activities that are most relevant – and can add greatest value - to a property, its local community and society at large. 

Responsibilities & Interests

The table below summarises the key activities associated with social value opportunities, and highlights where asset managers, property managers and facilities managers are likely to have a responsibility or specific interest. 

  • AM - Asset Manager
  • PM - Property Manager
  • FM - Facilities Manager

1. Jobs and skills  

Stakeholder:

2. Supporting growth of responsible business 

Stakeholder:

3. Healthier safer and more resilient communities 

Stakegholder:

4. Decarbonising our world and protecting habitats 

Stakeholder:

5. Measuring the progress of a social value programme 

Stakeholder:

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How to

Intro

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Across the range of social value opportunities, the responsibilities and interest of asset, property and facilities managers are likely to have differ depending on local circumstances. 

The kinds of social value themes that a materiality exercise is likely to identify are generally covered within the opensource TOMs framework (Themes Outcomes and Measures) which groups social value outcomes under the five headings below: 

1: Jobs and skills

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  • Mentoring programmes:  There various ways to organise successful mentoring programmes.  These include, for example: 
    • Working with local schools and colleges to understand what benefit young people would derive from a mentoring programme. 
    • Setting up a mentoring programme within your building for less experienced members of your occupiers’ and facilities teams to be mentored by those with more or different experience. 
  • Skills based volunteering:  The people within a property likely possess many varied skills, from those they use as part of their day job, to those they use outside of work. 

Many voluntary sector organisations operate with limited resources and don’t always have the formal business skills they would ideally like.  Conversely, individuals working within these sectors often have well developed attributes such as, for example, team building, motivation and partnership working. 

Developing relationships with charities and community organisations that are relevant to the social issues identified as important to the local area presents an opportunity to work together for mutual benefit.   

Creating a skills matrix by surveying people to highlight what skills they have that they would be willing to share can be a good place to start.  Alternatively, opening conversations with community groups to find out what they need followed by a call-out to people in the building to see if they hold these skills. 

Examples are as broad as marketing support for charities to more functional advice on accountancy to foreign language translation. 

  • Work experience:  Many schools and colleges have more students seeking work experience than businesses or organisations who can accommodate them.  Work experience provides a valuable way to build a relationship with a local school and to provide a positive experience for both young people and employees, who can gain skills in communication and coaching. 

There is guidance around work experience in that the person carrying out the placement should be observing or carrying out tasks to try them out rather than fulfil a role within the organisation that would otherwise be completed by a paid member of staff. 

Speaking with the local Department for Work and Pensions is usually a good place to start to understand the need and opportunity in a local area. 

  • Internships: Organising internships within the building can be an impactful way of building local relationships, bringing in fresh talent and perspective and opening up opportunity to people who otherwise may not get first-hand experience of the workplace. 

Internships are usually longer placements than work experience and costs are at least covered, with some receiving a small payment too. Given the cost associated with such placements they can be trickier to organise, but they are almost always valuable for all involved.  

2. Supporting growth of responsible business

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  • Local and/or socially led procurement:  As the procurement spend from a property building is likely to be significant, there are numerous ways to deliver value through the supply chain.  

Sourcing locally is a great way to support economic resilience, and looking for impact led businesses, such as social enterprise, can also extend the impact. 

  • Springboard for start-ups, young enterprise and cultural groups: Creative use of space to give profile to socially-led projects in the local area can be a great way of supporting the community and enriching a property’s space. 

For example, as many schools and colleges run young enterprise projects, there are likely to be opportunities to invite them in to promote and sell their goods in your shared areas. 

It is worth considering: 

  • Is there space to display art from local groups giving them exposure and profile? 
  • Are there any small local businesses that would benefit from agreed access to a property and its people?
     
  • Wellbeing:  A building has the potential to have huge impact on the wellbeing of people in and around it. By actively promoting and enhancing wellbeing, value can be added to the space. This can be through: 
    • The building itself, for example, ensuring there are spaces for reflection, adding in biophilia, making sure there is access to natural light, encouraging use of stairs over lifts, adding bike racks. 
    • Activities within the building, for example, mindfulness and yoga classes, or opportunities to connect socially. 
       
  • Mental health provision:  It is useful to think about how a property can support the mental health of people using it. 

There are a range of initiatives that specifically support mental health, for example, introducing Mental Health First Aiders, or running events with expert speakers on mental health.  

3. Healthier safer and more resilient communities

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  • Support for local charities:  There are numerous ways to support local charities and local communities.   

The most appropriate type of support will depend on what’s required in a particular local area.  Examples include: 

  • Literacy initiatives involving volunteers to read to children (safeguarding checks will generally be undertaken via the charity). 
  • Befriending older people. 
  • Skills based volunteering to help support digital skills. 

When setting up partnerships with local charities it is important to: 

  • Have an open conversation at the outset about what support a property’s occupiers are, and are not, able to provide. 
  • Be clear about the terms of the relationship, for example, a one-off activity or ongoing engagement, financial or non-financial contribution, what information should be provided to track and measure engagement. 
     
  • Celebrate and support local diversity: Every community is different and the people within a property will come from a range of diverse backgrounds. 

Celebrating diversity and local nuance is a great way of bringing people together, both virtually, or in person.  This can be done to celebrate a variety of cultural events, or events of significance to the local community, while promoting a culture of tolerance and inclusivity. 

  • Youth panels: There is often value to be gained from inviting new voices to join discussions/debates that might be taking place within a property.  There are numerous ways this can be done.  One example is through working with a dedicated organisation, such as Debate Mate, which seek companies to present real life problems to young teams of debaters who come and ‘battle it out’ with an audience.  

4. Decarbonising our world and protecting our habitats

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  • Community planting projects:  The act of planting trees and plants can provide health benefits while also supporting the necessary drive to promote and protect biodiversity in our communities. Bringing people together to do this in or around a property, or the local area, can help improve the surroundings as well as support social connections. 
  • Wildlife protection programmes and engagement.  Many charities are involved in the protection of the environment.  Group activities, such as Keep Britain Tidy’s Big Litter Pick, and Surfers Against Sewerage beach cleans can be great ways to engage teams, meet new people and make a positive difference to the local environment.  
  • Green transport schemes:  Introducing green transport schemes is a great way for people to contribute to the environmental effort while improving their health and wellbeing. 
  • Whether this involves car sharing that promotes social connection, or encouraging walking and cycling through provision of lockers or showers, these activities can provide an important source of social value.  

5. Measuring the progress of a social value programme

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Tracking and measurement is an important part of any social value programme, and should be considered as part of the planning social value activities. 

Setting up processes to capture the kind of data that will be beneficial to a property’s stakeholders involves taking a proportionate approach and starting with data that is already available. 

This may involve capturing quantifiable numbers around, for example: 

  • number of volunteers. 
  • hours volunteered. 
  • results of wellbeing surveys. 

Alongside this, qualitative insights from those involved may also provide valuable feedback as well as supporting the development of case studies for communications purposes.  

At a more advanced level, to begin to evaluate the socio-economic value of a social value programme, there are numerous specialists that can provide support. 

The TOMS opensource framework provides a good starting point to understand the principles and methodology regardless of the supplier.  As part of TOMS, proxy values derived from national data sources can enable socio-economic measurement of certain activities.  

  • BBP How to guide: social value opportunities

    pdf | 90.2 KB

Related Guidance Notes 

The following Guidance Notes contain related information: 

  • GN4.8: Template Action Plan 
  • GN7.1: Sustainable transport opportunities 
  • GN8.1: What is social value? 
  • GN 8.3: Incorporating social value within the supply chain 
  • GN9.1: Modern Slavery Act 
  • GN9.2: Living Wage Foundation certified services 
  • GN9.3: Embedding sustainability within waste management services 
  • GN9.4: Embedding sustainability within M&E services 
  • GN9.5: Embedding sustainability within cleaning services 
  • GN9.6: Embedding sustainability within security services 
  • GN9.7: Embedding sustainability within landscaping services 
  • GN11.1: Building User Guide 
  • GN11.2: Engaging occupiers
  • GN11.3: Service charge considerations 
  • GN12.2: Valuable green spaces 
  • GN13.2: Health and wellbeing opportunities  

Additional Resources

  • Social Value Portal: The National TOMS Framework, 2020 
  • REVO: Social Vlaue Framework for Retail Property 
  • UK Green Building Council:  Framework for Defining Social Value 
  • Construction Innovation Hub Value Toolkit

RESPONSIBLE PROPERTY MANAGEMENT TOOLKIT

  • HOW TO USE THIS TOOLKIT
  • MANAGING ENVIRONMENTAL RISK
  • OPERATIONAL MANAGEMENT
  • RATINGS & CERTIFICATIONS
  • ENERGY
  • WATER
  • WASTE
  • TRANSPORT
  • SOCIAL VALUE
    • GN8.1: What is social value?
    • GN8.2: Social value opportunities
    • GN8.3: Incorporating social value within the supply chain
  • SUPPLY CHAIN MANAGEMENT
  • FIT-OUT & ALTERATIONS
  • OCCUPIER ENGAGEMENT
  • BIODIVERSITY
  • HEALTH & WELLBEING

Solutions Scrapbook

Savills Explores the Social Value of Tackling Local and Global Challenges

To improve understanding of how shopping centres contribute to their local communities, Savills and RDI REIT P.L.C. worked with the Social Value Portal to quantify the social value of property management initiatives at Weston Favell Shopping Centre. They also explored how social value reporting could be mapped to the United Nations Sustainable Development Goals. Read the case study here

Shaftesbury’s Wild West End Greening of Soho School

As a key local partner for Soho Parish Primary School, Shaftesbury helped the school raise funds for a major playground redevelopment. The new multi-storey scheme has dramatically increased outdoor playable areas for schoolchildren in this central London location. Shaftesbury has also helped bring the space to life, introducing ecological enhancements such as sedum pods, bird boxes and insect habitats. Read the case study here.

Hermes Rolls Out Programme that Improves Efficiency and Comfort Levels

In 2016, Hermes Investment Management partnered with managing agent JLL and sustainability consultant Carbon Credentials to implement the Collaborative Asset Performance Programme in two high energy-consuming assets, 2 Cavendish Square and 8-10 Great George Street. This programme focuses on optimising technology and engaging with stakeholders to reduce energy use and improve conditions for occupiers. Following the success of the pilot, Hermes is now rolling it out to a further 12 high-consuming properties.

Read the case study here.

Aberdeen Standard Investments Partners on Energy Efficiency and Wellbeing Pilot

Aberdeen Standard Investments has partnered with KJ Tait Engineers to trial Ecopilot at One Trinity Gardens in Newcastle. In addition to enabling energy and carbon savings, the pilot project has identified opportunities to improve the working environment for occupiers, connecting various building systems so they work collaboratively together and making greater use of the building’s thermal storage capability. Building on this success, the team is now progressing opportunities for wider rollout.

Read the case study here.

Grosvenor Britain & Ireland Takes a Lead on Sustainability

To accelerate positive change and achieve Grosvenor Britain & Ireland’s challenging new sustainability goals by 2030, the company’s senior leaders have completed sustainability leadership training and taken on personal responsibility for sustainability. The business has also launched a Supply Chain Charter for partners to help fundamentally change the way its buildings and public realm are designed, constructed and operated.

Read the case study here.

Retailers Growing Greener with JLL at Queensgate

At Queensgate Shopping Centre, 83% of retailers have committed to the Growing Greener pledge, an initiative led by the centre team to reduce energy use, waste and water consumption and so cut costs. Retailer audits identified savings opportunities and an awards scheme recognised top performers. Through Growing Greener, Queensgate has improved sustainability performance and JLL now plans to roll out the initiative across its UK portfolio of shopping centres.

Read the case study here.

Broadgate Estates Engages with Gazprom on Energy Management

At 20 Triton Street, Broadgate Estates is working together with Gazprom Marketing & Trading to provide a better working environment for the Gazprom team, whilst optimising energy efficiency, minimising energy bills and reducing CO2 emissions. Gazprom and Broadgate Estates also engage closely on building-wide energy efficiency initiatives, which has led to 20 Triton Street becoming the first building in the British Land portfolio with all occupiers signed up to investment opportunities identified through Energy Savings Opportunity Scheme (ESOS) audits.

Read the case study here.

How Upskilling Teams Can Halve Energy Costs – 210 High Holborn

LGIM Real Assets set a target for managing agents to ensure all buildings are managed to best practice energy benchmarks, as defined by the Better Building Partnership’s Real Estate Environmental Benchmarks. To demonstrate how this could be achieved without increasing costs, the Head of Sustainability worked closely with the managing agent and contractors at 210 High Holborn, upskilling the team to integrate energy efficient options in every aspect of operations, from control system settings and planned maintenance to refurbishments of vacant floors. This resulted in a 71% reduction in energy use, with no additional capital costs to those incurred through efficient planned maintenance.   

Read the case study here.

BBP Members Use Big Data to Improve Comfort and Efficiency

BBP members Canary Wharf Group, Land Securities, M&G Real Estate, TH Real Estate, The Crown Estate and Transport for London are all using Demand Logic’s system to improve building performance. The Demand Logic system collects data through the Building Management System (BMS) and analyses it, producing simple graphics and tables, which help building teams identify potential operational improvements. By making HVAC and meter data immediately accessible via a familiar social media tool, these BBP members are improving energy efficiency, increasing comfort levels, saving on maintenance time, reducing energy bills and cutting CO2 emissions.

Read the case study here.

Sub-Metering Energy Efficiency Savings at Arndale Centre

Through the introduction of smart metering and monitoring by EP&T, M&G Real Estate and intu Properties plc have saved more than £1m in energy costs and over 6500 tonnes of carbon at Manchester Arndale Shopping Centre. 

Read the case study here.

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