9 July, 2024

HACT Launches Innovative Built Environment Bank to Transform Social Value Measurement in Construction and Development

Today HACT share a press release for the latest evolution of their social value measurement for the supply chain and built environment sector.

HACT is proud to announce the launch of the Built Environment Bank, which will only be available through Social Value Insight. The Built Environment Bank will revolutionise the way social value is measured in the built environment by calculating the social value to individuals, local businesses and the Exchequer. The Built Environment Bank will enable housing associations, developers, contractors, and construction firms to deliver and implement more meaningful, intentional long-term transformational social impact for people and communities.

The Built Environment Bank enables organisations to model, monitor, and measure the impact of their construction, development, and supply chain activities comprehensively across seven themes that cover everything from employment and the environment to construction and the supply chain. This suite of value outcomes has been designed and tailored in consultation with key sector organisations and provides them with person-centred insights into the social value they generate.

“The launch of the Built Environment Bank marks a significant advancement in our mission to integrate social value into the heart of construction and development projects,” said Andrew van Doorn, Chief Executive of HACT. “We are thrilled to provide this tool to the industry, enabling a more robust and holistic approach to social value measurement.”

Key features of the Built Environment Bank:

Since 2014, HACT has pioneered social value measurement, initially with tools such as the UK Social Value Bank. The Built Environment Bank represents the next evolution in HACT’s ongoing commitment to enhancing social value frameworks and providing practical tools for the industry.

See it in action

The Built Environment Bank is within HACT’s online tool Social Value Insight. Get in touch with the social value team to see it in detail and learn more about the new bank

Speak to the social value team