Managing Social Value in Real Estate
Towards an integrated social value definition, measurement and quantification in the built environment industry
A. Yordanov (TU Delft - Architecture and the Built Environment)
G. A. van Bortel – Mentor (TU Delft - Real Estate Management)
PJ Boelhouwer – Graduation committee member (TU Delft - Real Estate Management)
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Abstract
Today’s world is faced with climate emergencies and social disruptions, which means that decreasing negative results and delivering positive impact to the planet and society is necessary to support our future. With a rising demand for strategies that go beyond traditional investing, and the world approaching a new age of sustainable economies, impact measurement frameworks are a key tool in accelerating the transition.
Measuring, reporting and managing social impact is crucial in order to grasp the implications of investments, but data is often fragmented, inconsistent, difficult to find and hard to quantify. In addition, the reporting landscape is becoming increasingly complex as a plethora of overlapping or competing frameworks, indicators and measurement methodologies are emerging. Meanwhile, a sharp common approach as well as greater use of existing frameworks would be more valuable than proliferation of ever more new assessment tools.
This research will seek to understand how social value is defined and measured in the real estate industry. A particular focus will be placed on how integrating social value can strengthen an organisation’s business model while delivering positive societal impact. The research will also propose ways to integrate social value in decision-making processes. In order to do so, two tools - a roadmap and checklist, both deeply rooted in theory and practice findings - will be established.