Social value is measured by how it is being delivered across projects, assets, locations and suppliers and assesses the positive impact on communities. Proxy financial values are attributed for key social value activities which quantify in monetary value the amount of social value companies are delivering.
Social Value Portal has developed the National Themes, Outcomes and Measures (TOMs) Framework, endorsed by the Local Government Association, to create a practical and standardised way to measure social value and how organisations contribute to society.
The TOMs framework focuses on the following five key areas which have been customised to EMCOR UK’s social value priorities:
- Jobs – to promote local skills and employment
- Growth – to support the growth of responsible regional business
- Social - to create healthier, safe and more resilient communities
- Environment – with an emphasis on decarbonising and safeguarding the planet
- Innovation – to promote social innovation
The National TOMs Framework was initially developed as a solution to The Public Services (Social Value) Act, which came into force 10 years ago and has evolved into a social value measurement standard across the UK.
Roy Ramrutton, Head of Social Value for EMCOR UK, said: “We are excited to be working with Social Value Portal and to have adopted the TOMs Framework. Delivering social value is a key part of our vision to create a better world at work for our customers, colleagues, suppliers and the communities in which we operate, and we see this tool as critical in helping us to maximise our social value impact.”
Guy Battle, CEO at Social Value Portal, said: “EMCOR UK is very established in its sustainability reporting, and we are pleased to be able to take that further by utilising our standardised National TOMs framework and Portal to enable the robust reporting of their social value, driven across their projects, assets and suppliers.
Charles Naud, Head of Product at Action Sustainability, said: “We’re delighted to support EMCOR UK in aligning its wider sustainability reporting and performance management programme and its social value monitoring. It is paramount we offer the flexibility which enables EMCOR UK to seamlessly adopt standardised reporting frameworks, such as the National TOMs. This integration reflects the unwavering commitment EMCOR UK has in measuring and improving its sustainability impacts.”