2023 saw a significant Social Value milestone in the world of real estate with the acceptance of Social Value Portal’s Real Estate Social Value Index (RESVI) into the esteemed Global Real Estate Sustainability Benchmark (GRESB).
As highlighted by a recent article on GRESB’s site, the RESVI tool empowers developers to measure and enhance the Social Value generated by their in-use real estate assets. This capability has transformative potential at a time when developers are being urged to amplify and demonstrate their contributions to local communities.
Measuring Social Value: Complex but critical
Accurately tracking Social Value in real estate is inherently challenging, since both social issues and the outcomes of interventions are hard to quantify. Appetite has therefore been growing for a consistent system through which the real estate sector can understand key challenges and enact positive change.
This makes it all the more encouraging that RESVI is now recognised as a full points certification by the GRESB Real Estate Assessment – the first tool within the certification to cover the ‘S’ in ESG (Environmental, Social, and Governance).
Underpinned by the leading Social Value TOM System™, RESVI establishes a robust foundation for the measurement of Social Value in real estate. The article on GRESB’s site noted that:
Tools such as RESVI can help organisations enhance the good that they and their suppliers do.
A new paradigm in real estate
Social Value Portal is excited to continue embedding Social Value in the built environment. As shown by our work with prominent real estate brands like Unibail-Rodamco-Westfield and Landsec, the potential to deliver good to communities is truly enormous.
Guy Battle, CEO of Social Value Portal, said:
RESVI is poised to play a pivotal role in the delivery of Social Value in real estate, fostering the creation of more equitable and sustainable communities. Its integration into GRESB will enable us to drive further positive change and continue to make Social Value a cornerstone of the built environment.
Want to create better outcomes for communities through your developments? Learn more about RESVI and what it could do for your Social Value delivery.
