In the UK, the concept of social value has taken on increasing importance, particularly within the real estate and construction sectors. Social value refers to the broader economic, social, and environmental benefits that projects and organisations bring to communities, going beyond financial profitability. The UK government formalised its commitment to social value through the Social Value Act of 2012, encouraging public bodies to factor in social value when awarding contracts. This shift reflects the growing recognition that businesses should contribute to the wellbeing of society as a whole, creating lasting positive impacts.

What is Social Value?

At its core, social value is about delivering measurable benefits to society, such as job creation, community engagement, environmental sustainability and improving local infrastructure. These efforts aim to create more resilient communities, reducing inequalities and boosting social cohesion. Businesses are increasingly judged not just by their profits, but by the positive contributions they make to the communities where they operate.

Prologis' Approach to Social Value

Prologis UK has embraced the concept of social value by embedding it into its operational and strategic framework. The company recognises that its developments can significantly impact local communities, both economically and socially. Prologis focuses on creating spaces that not only serve the needs of businesses but also enhance the quality of life for local residents and contribute to a more sustainable future.

1. Community Engagement and Investment
   Prologis actively engages with local communities, ensuring that developments are tailored to meet the needs of the people who live and work nearby. Through regular consultations and partnerships with local councils and organizations, the company listens to concerns and works to address them. A tangible investment which Prologis makes to communities it through PARKlife, where it creates and maintains green spaces within its logistics parks, providing local communities with accessible recreational areas that promote well-being, environmental sustainability, and a sense of connection to nature.
2. Employment and Skills Training
   One key area where Prologis adds social value is through job creation and workforce development. The company works with local training providers to offer skills development and apprenticeship programs, particularly aimed at younger people and those from disadvantaged backgrounds. This not only helps to fill employment gaps in the logistics sector but also boosts economic prospects for the surrounding areas.
3. Sustainability Initiatives
   Environmental sustainability is a crucial component of social value for Prologis. The company is committed to reducing its carbon footprint and ensuring that its developments are energy efficient. Prologis invests in renewable energy projects, sustainable building materials, and green spaces, aligning its goals with the UK's commitment to net-zero carbon emissions by 2050.

By embedding social value into its core operations, Prologis demonstrates its commitment to fostering long-term community resilience, economic growth, and environmental sustainability. This holistic approach not only strengthens the company’s reputation but also helps create stronger, more sustainable communities across the UK