National framework provider Pagabo has confirmed it has surpassed £5bn enabled in social value procured through its frameworks since the end of 2017.
The company says the achievement is testament to the significance it places on leaving a positive legacy through all projects procured through its various frameworks, which cover a range of sectors including construction and utilities.
While making procurement quicker, simpler and more effective for both the public and private sectors, tailored social value approaches are encouraged for each project so that social, economic and environmental benefits are all considered based on the needs of communities concerned.
A number of important Pagabo procured projects have recently progressed, which have bolstered the firm’s social value statistics - including St Mark’s School in Southampton, delivered by Morgan Sindall.
In total, the £5bn value includes the creation of more than 5,900 new jobs and the safeguarding of a further 23,700 jobs, as well as 1,900 work placements and more than 1,500 apprentice roles.
Jason Stapley, managing director at Pagabo, said: “We’re very proud to have reached this major social value milestone and to be proving our commitment to encouraging clients and suppliers to put social value at the core of their business cultures and operations too.
“Our impact can be seen across the UK through our full suite of frameworks and will continue to improve lives of those both young and old for years to come.
“Many areas need local investment in its various forms, which will vary from place to place, meaning the generation of truly impactful, local social value is a true reflection of the amazing work being delivered for public sector clients.”
Pagabo generates its figures using Loop’s social value calculation software, which uses The National Social Value Standard’s social value measurement framework that includes more than 800 metrics - 90% of which are monetised - all aimed at increasing the robustness and accuracy of forecasts and estimates.
Stapley added: “Social value is referenced in the government’s Construction Playbook in relation to benchmarking, clear specifications, award and evaluation, so its importance during the entire construction timeline cannot be more clearly stated.”
To help organisations understand, evidence and measure the social impact of their work, all Pagabo framework users have access to Loop and its social value software developed and updated in line with the latest academic and government thinking.
With Pagabo rolling out its new refit and refurbishment and medium works frameworks in early 2023, the procurement specialist’s social value impact is set to continue rising.