The Housing Associations Charitable Trust has said social value in procurement needs to be part of a “verified and recognised assurance process” carried out by a third party.

HACT believes that an assurance process would increase credibility in social value and ensure it can deliver “long-term, transformational impact”. It has recommended implementation of an assurance process by 2028. 

Social value in business refers to the environment and social impact that a company produces through its decisions and activities.