In September, British Land brought together customers, partners and local community groups for a thought leadership event on the importance of social value within business, exploring the challenges and opportunities ahead. With greater focus on social impact from employees, customers and investors, as well as potential regulation down the track, people welcomed the chance to listen to an expert panel discussion with specialists from British Land, Diversity Alliance, Globechain and Islington Giving, followed by a dynamic Q&A and networking. 

Gabrielle Austen-Browne, Founder of Diversity Alliance, opened the discussion by asking the panellists about their social value journeys.
Insights included: 

• Keep the focus and always start with social impact – making a real difference is what is important. Social value is the tool to articulate this in a financial language that’s universally understood. 
• To introduce social value reporting into your business or communication, start with what you already know and measure, then look at frameworks and discuss proxy values with experts to turn these into financial metrics.  
• Transparency is key. Be upfront about what you do and don’t include in your reporting. This will build trust and protect against social washing.  
• Ask your community partners what they already measure, to reduce differing data demands and allow them to focus on what they do best – creating social impact.  
• Alongside the data, continue to share and amplify stories, communicating the positive impact on people’s lives. Stories are often what people remember. 

Panellists shared how introducing social value reporting had opened up new discussions with investors and colleagues, and further embedded social impact within their business. They expressed the hope that social value reporting takes a similar path to carbon, where there’s regulation. Signs that this might happen include the new Taskforce on Inequality and Social-related Financial Disclosures (TISFD) launched in September 2024, which follows the now-mandatory Taskforce for Climate-related Financial Disclosures (TCFD). 

During the Q&A, several topics were explored in more depth, starting with potential frameworks – which include HACT UK Social Value Bank, Impact Evaluation Standard and National TOMS – and concluding with the potential scope of social value reporting, from voluntary initiatives to mandatory contributions and core business activities. As everyone headed upstairs for networking and refreshments, there was a desire in the air for greater collaboration. There may still be challenges ahead, but, by coming together, we’ll find the solutions.  

At British Land, we welcome conversations with customers. Do you want to make a real social impact on your doorstep? For ready-to-join initiatives, tried and tested partners, and community funds run by our dedicated Social Impact Managers, contact us: [email protected]. 

The event was hosted at British Land’s Storey Club event space at 100 Liverpool Street, Broadgate. Breakfast and service was provided by The Clink Charity, which aims to reduce reoffending by training and rehabilitating people in prison.

For more on our sustainability strategy, Greener Spaces, Thriving Places, Responsible Choices, visit: www.britishland.com/sustainability