British Land launches social impact fund
British Land has committed to invest £25 million in the communities in which it operates.
The UK real estate investment trust has launched a social impact fund which will invest £25 million through to 2030, comprising at least £15 million of cash contributions and £10 million worth of affordable space.
The fund will focus on education, employment and affordable space. British Land says education partnerships will benefit more than 80,000 people and employment partnerships will benefit more than 10,000 people. It will also deliver at least £10 million worth affordable workspace, retail space, community and arts space delivered across its portfolio by 2030.
The new fund supports Thriving Places, one of the pillars of the company’s 2030 Sustainability strategy: Greener Spaces, Thriving Places, Responsible Choices. Thus far, British Land says: “29,000 people have benefited from our education partnerships and over 2,150 people have benefited from our employment partnerships, with more than 700 securing jobs.”
Anna Devlet, head of social sustainability at British Land, said: “We recognise that our places thrive when local people and organisations prosper, meaning our enhanced social impact commitments are not just the right thing to do but also make good commercial sense.
“By collaboratively addressing local priorities through a place-based approach, we are confident in our ability to make tangible, meaningful impact and grow social value and wellbeing in the communities in which we operate, all while curating places that people truly prefer.”