HACT endorses the Sustainability Reporting Standard, which addresses one of the key requirements around how impact is measured.
Andrew van Doorn, Chief Executive of HACT, stated:
"The Sustainability Reporting Standard (SRS) is important because it provides the a way for social housing organisations to demonstrate their social impact.
Too often we hear that those outside social housing don’t fully appreciate the breadth and depth of the work they do in communities. The SRS will enable social housing organisations to demonstrate the impact they have in society, as well as their unique nature as well-run, asset-based social-purposes businesses.
As a sector we have to tell our story better and the SRS is one way we can do that for those who are looking to invest in us now and into the future. But this isn't just about how we tell the story of our impact as individual organisations. It's also how we tell the story of our collective impact.
Our roadmap for the future of social value in social housing sets out a way we can do this together. It will enlarge the social housing sector's UK Social Value Bank, so that it includes environmental values, economic values and a refreshed and enlarged set of wellbeing values, which can then be applied across the business of social housing.
The roadmap will enable social housing to evidence its social impact, using the same methodology, underpinned by robust statistical evidence.
Yet we have to do that collectively. As a sector, there is no value in social value unless we work together. That's why we are proud to be one of the organisations who are endorsing the SRS."