Following on from co-hosting ‘The Future of Social Value’ pavilion with our colleagues from Pagabo at UKREiiF this May in Leeds, our social value specialists have been hard at work analysing the impact from the event.
UKREiiF is the country’s largest built environment and real estate investment event, which doubled in size as it made its return to central Leeds in May. The three-day event saw more than 7,500 people descend on Leeds Dock to hear from more than 500 expert speakers across more than 20 stages.
And as the event doubled in size for its second year, so did its impact grow further. Our report has shown that the 2023 event has generated a total social value equivalent to £2,259,358, with measurements covering a wide range of metrics from job creation and mentoring benefits through to recycling and waste disposal.
Download the full social value report here
Our Social Value Economist, Ethan Campbell, said: “Where possible, the impacts in our analysis have been monetised with proxy values in order to demonstrate the scale of impact the event has had in more relatable terms. Our measurement framework is able to incorporate more than 800 different types of metrics – 90% of which can be monetised – covering the five key areas of employment, training and skills, supply chain, community and charity, and environmental.
“Monetising social value is the process of attaching a proxy financial value to an outcome. That value does not show an actual financial return but represents the relative importance of that change to those impacted. The results speak for themselves when it comes to the significant impact UKREiiF has.
“Not only is the event bringing together the parties who will together make a difference to the future of the built environment and economy, it’s creating positive impact for the Leeds area and its communities now. It’s always a pleasure to work closely with the UKREiiF team to help demonstrate the fantastic work being done – and we look forward to continuing this into a successful 2024 event next year.”
Our analysis uses the National Social Value Standard (SVS), which is a measurement framework designed specifically for the appraisal of social value. Developed by specialised economists, it incorporates the latest government and academic best practice, including the HM Treasury Green Book.
Nathan Spencer, Director at UKREiiF, said: “We’re incredibly pleased that as the event grew in its second year, the positive impacts created also increased, with the proxy monetary values more than doubling.
“Since the outset of creating UKREiiF, we were clear that it was intended to be a platform for change. Its aim it to facilitate positive regeneration and development across the whole country, aligning with the government’s levelling up agenda – but crucially doing this in a way that maintains a focus on sustainability and generating positive impact for communities.
“This will remain at the core of the organisation for next year’s event, which will return to the Leeds Dock once again in May 2024. Plans are already progressing at pace with big name businesses already committed to helping us further our positive impact into another year, including the creation of Team Leeds which will look to utilise the UKREiiF platform to develop more all-year round activity that further enhances the social value we generate for local people and places.”
The full report can be downloaded here
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