Social investment
Social investment is how we make sure our spending benefits residents as much as possible. This includes what we buy, and how we use our buildings, parks and housing.
We do this by supporting our voluntary and community sector through grants and shared use of buildings. We also work in partnership with large organisations and businesses, and buy goods and services in ways that benefit local people.
Following the Grenfell tragedy, the Council committed to change. Bereaved families and survivors have challenged us to do better for our communities. In the past, decisions were sometimes based mainly on financial value. Social investment aims to balance this by making sure social value is part of every decision.
This does not replace the need to consider value for money or service quality. It also does not remove the need to generate income from commercial property. Instead, we consider social value alongside these factors.
This approach will make decisions about Council assets and resources more transparent and fair, especially as budgets become tighter.
Measuring social value
Social value means the wider benefits people and communities gain from public spending and assets. In Kensington and Chelsea, this includes the impact on quality of life, wellbeing and local communities.
How we measure social value
We use a range of methods to measure social value. These include HM Treasury’s Green Book and Magenta Book, and Social Return on Investment (SROI).
SROI assigns a financial value to outcomes such as improved confidence, stronger communities and access to green spaces. This allows us to show the return on investment.
For example, in 2023 to 2024, libraries generated £6,090,738.86 in social value. This is a return of £2.82 for every £1 spent.
Why are we introducing this?
We already deliver projects that create social value. However, it has been difficult to measure this consistently.
This new approach will help us measure impact more clearly, set future goals and track progress. It will also help ensure decisions about funding and resources are fair and transparent.
Social Investment Impact Report
The Social Investment Impact Report looks at the impact of activities delivered by the Council, its suppliers, and the voluntary and community sector.
This report shows a selection of projects that create social value for residents. The total impact is likely to be higher than shown. This first report provides a starting point that we will build on over time.
We use recognised methods, such as social value and SROI, to measure the difference our work makes. This helps us meet our commitments in the Council Plan and Fairer Action Plan, including reducing inequality and supporting equal opportunities.
This approach will improve transparency and fairness when making decisions about Council assets, funding and resources, especially as budgets become more limited.
Social investment key themes
- Promoting fairness
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In our 2023 to 2027 Council Plan, we committed to making life fairer for people who face the greatest challenges. We want everyone, no matter who they are or where they live, to have the opportunity to make the most of what Kensington and Chelsea has to offer.
We can achieve this by targeting our services to those most in need by:- building partnerships with local businesses, voluntary sector organisations and community groups
- providing employment and skills support utilising the social value commitments of contractors, and our property portfolio.
- Supporting local organisations
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Our voluntary and community sector, businesses, strategic partners and public bodies are some of the borough’s most valuable assets. By building strong and meaningful partnerships, we can deliver greater benefits for our residents and communities through our social investment approach.
We work with local people and organisations. This helps us recognise and value the skills, knowledge and connections within our communities in Kensington and Chelsea.
We do not always need to design or deliver services directly. Instead, we can connect and support others to deliver services and projects for residents.
- Employment and skills
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Supporting residents to gain the skills and opportunities they need for meaningful employment is a key priority for the Council. This section outlines how we are improving employability and supporting economic growth in the community.
Parts of the borough, particularly Dalgarno, Golborne and Notting Dale, experience higher levels of employment and education deprivation than the London average. Unemployment is also higher among people with long-term or work-limiting disabilities (11.3% compared with 7.4% across London).
We offer targeted training, careers support and work with local businesses to help residents succeed in a competitive job market. These programmes aim to close skills gaps, reduce unemployment and support lifelong learning.
- Health and wellbeing
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There are differences in health and wellbeing across Kensington and Chelsea. We want to build a supportive and inclusive community for everyone.
We provide a range of services, from specialist support to activities that help people stay connected and independent. This report highlights the positive impact of these initiatives and our ongoing commitment to improving health and wellbeing across the borough.
- Sustainability
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Kensington and Chelsea Council is committed to creating a sustainable future for our community. This section explains how we are reducing environmental impact, improving green spaces, and encouraging environmentally friendly behaviour across the borough.
Our approach is guided by a vision of a greener, healthier and more resilient community. Through programmes and partnerships, we are tackling climate change, supporting care for the environment, and protecting natural resources for future generations.