Industry leaders and stakeholders associated with the built environment have identified the need for a process to clearly identify, prioritising, articulating and assessing economic, environmental and social value throughout the projects life-cycle.
For example, Brookfield Multiplex (BM) thinks of sustainability in terms of value and works with clients to understand, and respond to, their unique strategic drivers. BM perceives the built environmental as a tool to unlock greater economic, social and environmental value.
At present there is no single or agreed approach for built environment projects to discuss value trade-offs, prioritise and measure the impact of such projects. There is a clear appetite amongst a number of organisations working with the built environment for a process to clarify and translate the impact the built environment can help deliver to a broader range of stakeholders and the value it can create across economic, environmental and social platforms. To our knowledge, no organisation has to date successfully developed a practical framework which can be applied more widely at the level of tenders and projects.
The challenge with the complexity of the built environment and the diversity of stakeholders necessary to design, build, manage and occupy buildings reinforces the need for a common language and commitment toward shared impact. The built environment impact framework and decision making tools aims to help all parties successfully identify and collaborate towards creating more value using the built environment as a positive impact tool.
The CRCLCL envisions the development of a framework to inform decision makers and measure real change. It will be an analytic framework which incorporates social, environmental and economic impacts into decision making, providing a fuller picture of how value is created or destroyed.