Lisette then explored the importance of how social impact is measured. Sasha Njagulj, Global Head of ESG at CBRE Investors, reinforced Eime’s point on the need to focus on outcome as well as output, by suggesting we consider how an initiative can improve lives. Sasha pointed out that for a while now, the ‘Environment’ in ESG (environmental, social, and governance) has come much further than the ‘Social’ element, blaming this in part on the time it takes to realise and prove how social value has been achieved.

To close the webinar, each of the panellists summarised their thoughts on how we can achieve an alignment between the public and private sector in achieving social value. Margarethe suggested that a clear identification of social value through strong engagement with the local population is needed, in order to ease proposals through the planning system. She also considered how social value can be delivered across all investments at all stages of development. Damo offered an idea of how we can develop ‘social impact bonds’ in terms of real estate development, and Sasha proposed we continue to look at how we can create social value through the buildings which already exist.