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How we measure social value
The measurement and reporting framework that has been developed for measuring real assets builds on the National Social Value (TOMs) Measurement Framework which has five Themes, supported by 18 Outcomes and 38 specific Measures. It was developed by a cross-sector working group known as the National Social Value Taskforce, and it is widely used across all sectors as the default social value measurement solution.
The five Themes are: Promote Local Skills and Employment; Supporting Growth of Responsible Regional Business; Healthier, Safer and more Resilient Communities; Protecting and Improving Our Environment; Promoting Social Innovation.
Most of the Measures, which are essentially a list of activities and interventions that could generate value, that underpin these Themes have been assigned a proxy value. These have been developed by the Social Value Portal and the National Social Value Taskforce and the majority of the financial values have their roots in the Unit Cost Database (UCD) that was developed for Government and follows the principles laid out by HM Treasury for monetising economic, environmental and social impact, with specific regard to potential savings for the public sector. Where the UCD does not provide a proxy value for a certain Measure, then one has been developed following relevant government guidance.
Mapping social value to the Global Goals
There is strong alignment between the social value interventions delivered through the TOMs and the UN 2030 Agenda for Sustainable Development. Within the UN Sustainable Development Goals (SDGs) framework, progress against the 17 Global Goals is measured against a set of 169 Targets and 232 Indicators. To estimate the contribution of the TOMs to each Goal the Social Value Portal has mapped each Measure against the Global Goals’ 169 Targets. The mapping has been done by analysing the scope and intended beneficiaries of each Measure and assessing how these directly overlap with each Target. Links between the proxy values in the TOMs and the SDGs’ Indicators sitting behind each Target have also been identified to establish a quantitative link in measurability.
There are a range of Figures in the Global Goals Report to ensure the reporting is as transparent as possible. The TOMs use a mix of social value proxies for the outcome/impact of the Measures and, where those are not available, some input/output proxies. These have been reported separately for complete transparency.
In addition, local economic value generated through the TOMs is reported separately. While these interventions create value for the local community in terms of jobs and increased business opportunities, from a societal perspective they might be displacing some of those opportunities from elsewhere.
The total social value has been calculated based on the deadweight and attribution parameters identified at Measure level and through the input, output, outcome and impact proxies (based on primary and secondary data as specified in the social value report). This provides a high-level estimate of the average expected value to society generated by the Measures. When including figures in impact reports due care should be taken to properly differentiate outcome/impact values from input/output values. Input and output proxies have been used whenever an outcome or impact proxy was not available due to a lack of data or research.
For those organisations that are already contributing or want to start to contribute to the Global Goals agenda, we have created a tool that helps leverage the National TOMs Framework’s power to mobilise resources, connect organisations across sectors, and empower communities to take ownership of their needs.
This interactive tool will help organisations answer the questions: “How Can the National TOMs Contribute to the Global Goals for Sustainable Development?” – and explore how different Measures contribute to specific Goals.
It has been designed as a qualitative tool that can connects the intended purpose of each measures to the Goals, and the Targets within each Goal to which it can contribute.
Please select different sets of Measures to visualise the relative impact across the Global Goals