Thursday, 12th January, 2023
Cory generates £84 million of social value in 2022
In 2022, Cory quantified the social value it generates from its activities for the first time, calculating that it delivered £84 million of value to society beyond profit and income.
Social value is the long-term, sustainable improvement for society that can be gained by promoting positive social, economic, and environmental impact. The figure of £84 million encompasses the value for communities resulting from activities across Cory’s business including supply chain spend and engagement, the apprenticeship programme, training opportunities for employees, diverting waste from landfill, engaging with employees and local communities on environmental issues, and supporting local community initiatives.
To undertake the analysis, Cory used the Thrive Impact Evaluation Standard (IES). The IES is aligned with the latest methodology and standards developed by the UK Government, enabling users to robustly quantify the impact their activities have.
Cory will use its ongoing participation in the Thrive Platform, and the process of calculating its impact, to improve the added benefit it is providing to local communities through delivery of its services.
Commenting on the news, Head of Sustainability Helen Murphy said: “By considering social value in the decisions we take as a business including the way we operate, employ staff, engage with our local communities, and buy products and services, we can cultivate a more sustainable, resilient, and inclusive society. Being able to quantify the positive impact that we have allows us to not only celebrate our achievements from last year, but also gives us a platform to build on for the years ahead.”