The paper, published in collaboration with global professional services network Forvis Mazars, aims to shift the focus from headline numbers used to win procurement tenders to leveraging social and environmental impact to create long-term lasting change.

The whitepaper:

• Outlines the importance of social value and non-financial reporting
• Explains the need to strengthen confidence in the disclosures within these reports, both internally and externally.
• Provides a greater understanding of assurance as well as the drive to improve the quality of reporting
• Provides a roadmap outlining the practical steps for the future of social value assurance

The report lays the foundations for the evolution of the social value sector, shifting focus from headline numbers used to win procurement tenders, to using social and environmental impact to understand and drive transformational change from organisations to people and communities across the UK.

Andrew Van Doorn OBE, chief executive at HACT, said: “Our vision is that social value - alongside other non-financial reporting – is part of a verified and recognised assurance process by 2028. We know that this will take time to establish and there will be some challenges along the way. We want to achieve this vision with practitioners, professionals and partners from across the social value sector – and beyond. Social value assurance is needed now more than ever, so that it becomes part of the business as usual for organisations, informing the decisions they make so they can maximise their impact in local communities across the UK.” 

Michelle Olckers, sustainability assurance partner at Forvis Mazars, added: “The assurance of an organisation’s reported social value disclosures provides credibility to them, as well as their stakeholders. This white paper provides guidance on the roadmap to greater credibility through steps that will enhance social value assurance readiness.”

The white paper is for organisations across the UK, predominately in the built environment or community settings, and is aimed at provoking conversation about how everyone can drive assurance across social value.

HACT’s head of social value Michael McLaughlin spoke about the potential impact of the paper, saying: “As we look to the future, it is clear that the pursuit of long-term impact must be at the heart of the built environment. By embedding social value principles into the fabric of our organisations, we can create more resilient, equitable and vibrant communities.

“This paper lays out practical steps for those committed to driving change across the UK. Together, let us embrace the importance of social value, ensure rigorous reporting and assurance, and work towards a future where every development in the built environment acts as a driver to contribute positively to the wellbeing of all.”

Download the full white paper here.