National TOMs for real estate
Social Value Portal has worked with industry including the UK Green Building Council (UKGBC) and British Council of Offices (BCO) to create a framework for delivering, measuring and reporting social value at every stage of the real estate lifecycle.
A flexible framework for real estate
The framework is underpinned by the tried-and-tested National TOMs – Themes, Outcomes, and Measures, which includes a more comprehensive list of core measures relevant to all businesses. Then, working with experts and industry leaders through the National Social Value Taskforce, we added a plug-in with additional criteria tailored to meet the specific needs of real estate.
The framework is underpinned by the tried-and-tested National TOMs – Themes, Outcomes, and Measures, which includes a more comprehensive list of core measures relevant to all businesses. Then, working with experts and industry leaders through the National Social Value Taskforce, we added a plug-in with additional criteria tailored to meet the specific needs of real estate.
Why measure now?
Real estate contributes more than £100bn to the UK economy and employs more than 1.2 million people, in fact 1 in 13 jobs are supported by the sector. And it’s under unique pressure.
There is a chronic supply and demand issue on housing, a transformation of commercial spaces post-COVID, and a government drive to net zero and a laser focus from investors on purpose not just profit.
The government has pledged to build 300,000 new homes a year until 2025 and become net zero carbon by 2050. Real estate leaders are balancing high demand for core services, while supporting placemaking, and delivering social value throughout the development lifecycle.
Real estate contributes more than £100bn to the UK economy and employs more than 1.2 million people, in fact 1 in 13 jobs are supported by the sector. And it’s under unique pressure.
There is a chronic supply and demand issue on housing, a transformation of commercial spaces post-COVID, and a government drive to net zero and a laser focus from investors on purpose not just profit.
The government has pledged to build 300,000 new homes a year until 2025 and become net zero carbon by 2050. Real estate leaders are balancing high demand for core services, while supporting placemaking, and delivering social value throughout the development lifecycle.
Meeting the needs of real estate
Community
Better community engagement and supporting design for public spaces.
Better community engagement and supporting design for public spaces.
Environment
Carbon savings from energy efficiency measures and reducing embodied carbon.
Carbon savings from energy efficiency measures and reducing embodied carbon.
Innovation
Responding to the climate emergency through innovations like biodiversity initiatives, volunteering, and water saved against benchmarks.
Responding to the climate emergency through innovations like biodiversity initiatives, volunteering, and water saved against benchmarks.
Maximum social value
Using the National TOMs framework, social value can be tracked and measured consistently and reported transparently to stakeholders including investors, local communities and delivery partners.
Using the National TOMs framework, social value can be tracked and measured consistently and reported transparently to stakeholders including investors, local communities and delivery partners.
The National TOMs for real estate can be used at various stages
Design
Incorporate social value into design decisions to maximise the opportunities for value creation at later stages. The framework runs through the ‘Maximising social value in design’ guidance published in 2021.
Incorporate social value into design decisions to maximise the opportunities for value creation at later stages. The framework runs through the ‘Maximising social value in design’ guidance published in 2021.
Planning
Work with local authorities to agree and develop social value objectives. Draw on recommendations within the ‘Embedding social value into planning’ briefing paper to write a Social Value Statement and help planners and communities understand the wider benefits that the new development will bring.
Work with local authorities to agree and develop social value objectives. Draw on recommendations within the ‘Embedding social value into planning’ briefing paper to write a Social Value Statement and help planners and communities understand the wider benefits that the new development will bring.
Construction
Set targets for the construction phase against specific measures and track progression against those targets throughout the build. Think about how an asset is managed, supplied and occupied as social value can be generated through all these activities. Use the Real Estate Social Value Index (RESVI) for a more targeted assessment.
Set targets for the construction phase against specific measures and track progression against those targets throughout the build. Think about how an asset is managed, supplied and occupied as social value can be generated through all these activities. Use the Real Estate Social Value Index (RESVI) for a more targeted assessment.
Put a value on your values
A trusted methodology, supported by hard metrics, means you can account for, and measure, each choice and its impact.
Real estate professionals design, build, maintain, and operate the buildings we live, study, work and play in.
Our industry plug-in ensures these spaces are not only safe, comfortable, and sustainable – but also generate maximum social value.
A trusted methodology, supported by hard metrics, means you can account for, and measure, each choice and its impact.
Real estate professionals design, build, maintain, and operate the buildings we live, study, work and play in.
Our industry plug-in ensures these spaces are not only safe, comfortable, and sustainable – but also generate maximum social value.
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Ready to make a difference?
Book a demo with a member of our team to see the Social Value Portal in action and find out how to maximise the good you do.