Kier has launched a tool to track its social value impact through its spending in deprived areas, in what is thought to be a first for the UK construction industry.
Local Multiplier 3 (LM3) has been developed by the New Economic Foundation and will support Kier's ability to measure and improve how it supports local communities, boosts local jobs and delivers wider social value.
The tool measures spending in areas with high levels of deprivation, as defined by the Office of National Statistics, and can also show the number of suppliers Kier has worked with in a given area.
This helps develop a picture of the benefits to local communities from Kier's operations and can help target future spending where it might have the most impact.
Social value has been high on Kier's agenda and a key part of local and central government procurement since the Social Value Act was passed in 2012. The agenda was further embedded by the Government’s Public Procurement Notice 06/20 (PPN 06/20).
Lisa Sanders, head of social sustainability at Kier Group, said: 'At Kier, we are committed to supporting local communities across the UK. LM3 allows us to visually demonstrate the very real impact we are having through the projects we are delivering.
'Working with the New Economic Foundation, LM3 is a first for the construction industry and will help us achieve our social purpose of tackling inequality by giving individuals and communities the tools and opportunities to create brighter futures. This tool allows us to better allocate our spend, to positively impact areas with the highest levels of deprivation across the UK.'
Adam Wilkinson, CEO at LM3 Online, said: 'It is important to better understand the impact companies can have from all forms of spending and investment. Working with Kier to design and build this brand-new tool will positively impact the communities that need investment the most.'
