Despite emerging consensus about what social value priorities are, corporate decision-makers are less confident about how to measure them.

Globally, almost a quarter of organizations reported a lack of standardized reporting and consistent data, plus difficulty measuring success, as their biggest barriers. It makes justifying company resources challenging, as more qualitative social benefits often go beyond organizations’ four walls.

“Success can prove harder to track - but it’s not impossible,” says Puybaraud. “A quarter of our survey’s respondents are already collecting real time data and using advanced analytics for their future social value strategies.”

Construction company Lendlease developed a robust quantitative and qualitative methodology using inputs, outputs and impacts, to measure the sustainable return on investment from its £2.5bn (USD $3.1bn) regeneration project, Elephant Park.

Over five years, it calculated that every £1 invested equated to £6 of social and economic impact, generating £36m (USD $44.3m) of total benefit. Activities included providing affordable rents and mentoring support to local small businesses, while creating jobs for more than 1,600 local London residents - over 900 of whom were previously unemployed.

As social value-driven initiatives become more numerous and their results more visible, companies will come under growing pressure to show how they’re working with, and making a difference to, communities around them.

“Social value isn’t about quick wins or gimmicks,” says Wedemeyer. “When planned holistically alongside environmental goals, it’s about delivering lasting positive change for communities, cities and companies while building resilience for tomorrow.”

Hear how Sanofi, LGIM and EY are addressing social value in the built environment, with this on-demand recording of our 'Building Brighter' panel event, organised in partnership with the Financial Times.