New research has revealed that the UK construction industry delivered £1.1bn of social and local economic value in the first half of 2022, providing a 30.33% return on investment.
Published by public sector procurement authority Scape, the new report highlights how social value delivery is evolving and becoming more sophisticated across the construction industry.
A total of 520 construction contracts with a combined total value of £3.6bn and ranging from £12,000 to £130m, were analysed to establish the scale and scope of social value delivery across the UK. The findings show that ROI is up by more than 10% compared with 19.55% last year, suggesting that the construction industry is committed to investing in (and bringing about) positive societal change. The result is a tangible impact on people’s lives.
At its core, social value is about listening to communities, understanding what they really want and fostering meaningful dialogue rather than simply pushing one-way communications that offer people no real opportunity to respond or push back.
“The [report] highlights how the construction industry is proactively delivering social value in the UK, which in turn is having a positive impact on society,” said Mark Robinson, group chief executive at Scape.
“Scape is proud to be leading the way in unlocking social value through public sector procurement across the UK by generating significant returns year on year and more value in the regions in which we operate. However, there is more to be done – at a time of economic uncertainty it is imperative that the sector works together to drive social value delivery for the benefit of both local communities and economies.”