The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Can Buildings be Ranked on Social Value?

Can Buildings be Ranked on Social Value?
20 March 2024

A building certification that measures the social value of a building has been launched by Fitwel.


Watch the Video



Investors in commercial real estate can access ratings such as BREEAM, WiredScore, WELL Building Standard, NABERS and many more to help them measure the performance of potential assets. With voluntary ESG reporting commonplace and many predicting that mandatory reporting regulations will ramp up, building certification platform Fitwel is pre-empting a desire to quantify ESG better.

According to a 2022 Deloitte Survey, it’s mainly the “s” in ESG that causes the most difficulty – some may question whether you can define social performance in easy-to-analyse metrics at all. 

In collaboration with sustainability advisor EVORA Global, Fitwel has piloted such an idea with commercial real estate owners and asset managers worldwide, such as BGO, Harrison Street, Hudson Pacific Properties, Lendlease Americas, PGIM, QuadReal Property Group, and Vornado Realty Trust. 

They identified the economic value of strategies that already exist within the Fitwel Standard, selecting those that have the greatest impact on material risk and financial value, and occupant health. Social Performance by Fitwel is the result.

This includes:


  • Access to water, bottle refilling stations and universally accessible bathrooms
  • Percentage of occupants located within 800m of green spaces
  • The ratio of breastfeeding facilities to occupants
  • Access to daylight and views of nature
  • The ratio of emergency first responders to Total Occupants
  • The walkability of the area


"Social Performance by Fitwel is the only certification pathway applicable to all real estate assets and designed to measure and track the Social performance of real estate funds on an entity scale. Together with EVORA Global and the first cohort of pilot users, we have made it possible to clearly define the value of Social strategies, providing structured insights to inform continuous improvement for stakeholders - an industry first," said Joanna Frank, President & CEO of Fitwel.

Philippa Gill, Executive Director at EVORA Global, added: "We are delighted to be working with Fitwel on such a critical step forward for the real estate sector. Every building has been created for people, whether to live, eat, work or shop, and the new Social Performance portfolio methodology now allows investors and managers to understand and track the human and financial impact of social measures."

Picture: a photograph of an office with a desk and two chairs facing a large window. Image Credit: Unsplash

Article written by Ella Tansley | Published 20 March 2024


Related Articles

Deepki Achieves Highest-Ever ClimateTech SAAS Fundraising in the Real Estate Sector

Deepki, an ESG data intelligence platform for the real estate sector, has raised €150 million in a Series C round of funding.  This is the largest ever...

 Read Full Article
Amber Luscombe Appointed as Oxygen’s First Head of ESG

Asset and investment management firm Oxygen has appointed its first Head of ESG. Amber Luscombe, who joined the development team at Oxygen in 2022, will ensure that...

 Read Full Article
Rishi Sunak Visits Blackstone’s New European HQ Groundbreaking Ceremony

Asset manager Blackstone has broken ground on its new London office, in a ceremony attended by Prime Minister Rishi Sunak. Located on the site of the former historic...

 Read Full Article
The Economist Group Signs Five Year Lease at Birmingham Office

Weekly publisher The Economist Group has taken the entire top floor of 154 Great Charles Street, Birmingham. The 3,684 sq ft space is at the newly refurbished office...

 Read Full Article
Michael Gove Approves Former ITV HQ Redevelopment 

Controversial plans for the redevelopment of the former ITV headquarters on London’s South Bank have been approved by Michael Gove. The decision follows a...

 Read Full Article
New Development Partner Needed for Limmo Peninsula in Newham

Transport for London’s commercial property arm is looking for a joint venture development partner to redevelop five hectares of land in East London. The Limmo...

 Read Full Article
ESG Pro Appoints Full Bin as UAE and MENA Partner 

ESG Pro Limited will partner with Full Bin in the United Arab Emirates and MENA region. Full Bin, known for its waste management and recycling services, will use its...

 Read Full Article
Over 80% of Real Estate Occupiers Increasing Tech Budgets, Says JLL

Over 80 per cent of commercial property occupiers are increasing their technology budgets despite a difficult operating environment, according to JLL's 2023 Global...

 Read Full Article
Canada Water Dockside Scheme to Go Ahead

A 1.5 million sq ft commercial scheme in Canada Water has been approved by Southwark Council. Co-designed by BIG and HWKN Architecture, the 4.5-acre site will be one...

 Read Full Article
Zoom Opens New 15,000 Square Foot Office in Holborn

Video communications company Zoom has opened a new London Engagement Hub. The 15,000 square-foot LEED-certified office will provide a place for Zoom’s 200+ UK...

 Read Full Article