Future of London reminded the sector - as they kicked off their year-long research programme - that it's been 10 years since public bodies were required by law to consider how services they commission can deliver social, environmental and economic benefits. We joined the Future of London Social Value conference on the 4th July, which explored what social value means today, across the public and private sector, and really reflect on if as a public-sector lever, it is actually delivering what it once promised to.

Here are a few of our thoughts on this issue.

Social Value is only becoming more relevant for our clients. 

We are seeing three core trends across our clients, projects, and research:

• The regulatory levers demanding social value are becoming more sophisticated through new and stronger planning and procurement policies, for example around affordable workspace and Net Zero. 
• The benefits for our clients of delivering social value are becoming broader. We are supporting private-sector clients committed to stronger reporting on issues of ESG; looking for opportunities to create a real sense of place and social-economic and environmental sustainability in development; and recognise the wider benefits of delivering good social value when it comes to more competitive procurement and planning. 
• As the public sector is responding to budget demands, we are working with public-sector clients to optimise what they have and deliver social value through a balanced approach to decision making. For example, our clients are considering how to deliver social value, through careful consideration of how they position and unlock public estate, create opportunities for regeneration, realise successful town centres or unlock heritage, workspace and cultural opportunities which benefit local communities.

The very nature of social value is changing. 

But the greatest trend that we, and our clients, are responding to, is that the delivery of social value is becoming less about leveraging short-term social good from commercial investment, and more about scrutinising the very nature of a project and its ability to deliver long term positive outcomes for society, the economy, and the environment.

We are often no longer talking to our clients about social value - but instead, social impact, social investment, and securing a positive long-term legacy of built-environment projects.

Click here for more information on Future of London's Social Value conference.