Better Places (Social Value) Toolkit: A review of existing tools and practices [Briefing note]

Mulholland, Cara (2020) Better Places (Social Value) Toolkit: A review of existing tools and practices [Briefing note]. Documentation. Stantec.

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Abstract

The aim of the Better Places Toolkit is to develop a tool that makes it easy to incorporate social value into decision making around the use of land. This report presents the findings of the explorative study completed as the Stage 1 of the Better Places (Social Value) Toolkit (Better Places Toolkit) project. It aims to develop a process to quantify social value outcomes to enable informed decision-making for better strategic land development projects which deliver better community, climate change and commercial outcomes. Social value is playing an increasingly important role in how we approach land development, but there is a lack of guidance for the development industry on how social value should be defined and how it can be used to inform the deployment and valuation of land. Our toolkit proposes to quantify and spatially map social value data to deliver a digital analytics solution to improve evidence-based decision making. The Better Places Toolkit KTP has begun with an explorative study to determine what the current best practice of social value creation and measurement in strategic land development might be, primarily based on a desk review of tools and practices and compared against extensive stakeholder engagement. This report outlines the key findings from the high-level longlist and more detailed short list desk review of tools and frameworks, followed by suggestions to satisfy the gaps and challenges identified by key stakeholders both during the review process and in the focused workshop.