Grosvenor launches social impact strategy
Social impact will rank alongside environmental and commercial considerations in its real estate business, says Grosvenor.
The private property company’s UK business this week launched “People Positive”, its social impact strategy. The company says priority focus areas will be driven by “extensive research into societal and local needs”.
The strategy focuses on three areas: improving wellbeing, helping local economies thrive by championing inclusive growth and diversity and maximising the impact of Grosvenor’s staff and partners.
Social impact metrics will now be built into decision making in the same way as environmental goals, the company said.
An early project driven by the programme is the proposed redevelopment of Grosvenor Square in London (pictured above), to promote wellbeing. The square will gain water features, seating education facilities and play spaces to make the gardens more useable for the public.
Grosvenor, which is controlled by the Duke of Westminster, will continue with its charitable Greener Futures programme, which recently expanded to Liverpool and support the Duke’s Westminster Foundation.
James Raynor, CEO, Grosvenor Property UK, said: “We want to have a genuinely long-term, positive impact on people and communities. But this isn’t something we take for granted as an automatic by product of what we do.
“So, we’ve expanded our sustainability ambitions to encompass a business-wide approach to social impact enabling us to understand, measure and maximise our impact. Social impact will now be as much a part of decision making as commercial and environmental considerations – ensuring people and planet are at the centre of our business.”