Infrastructure services provider Ventia is making history by being the first company in Asia Pacific to implement Social Value Portal’s TOM System™ (Themes, Outcomes, and Measures), enabling the organisation to quantify AU$4.32B in Social Value created in 2023. This assessment solidifies Ventia’s role as a leader in social sustainability and represents the arrival of Social Value measurement in the Asia Pacific region.
Leading standard
Social Value measurement
A$4.3 billion
in Social Value in 2023
99%
in-country spend
73.5%
in-state spend
“Our approach to Social Value is deeply embedded in our long-term strategy. We are dedicated to delivering for our customers, communities, the environment and our people. We’re actively collaborating with partners across various sectors and are open to working with any organisation that shares our goal of creating a brighter future for Australians and New Zealanders and their communities.”
Dean Banks, Group CEO and Managing Director, Ventia
Background
Ventia’s approach to impact is based on five key focus areas determined by their culture, their capability, their customers’ priorities and the needs of local communities, encompassing Health & Wellbeing, Community Engagement, Employment & Skills, Diversity & Inclusion and Social Procurement.
Solution implemented
The groundbreaking Social Value TOM System™ allows any organisation to more completely measure and report on the social, economic and environmental impact it has on society. The roll-out of the TOM System in Asia Pacific is underpinned by the Social Value Taskforce – ANZ, established by Social Value Portal to explore how to build a Social Value Economy in Australia and New Zealand.
Outcome delivered
The use of Social Value Portal’s TOM System has had a transformative effect on Ventia’s approach to social sustainability and delivering on customers’ social procurement requirements. Ventia’s commitment to local communities has resulted in more than 99% of their spend going to Australian suppliers, with 73.5% of spend going to suppliers within the same state. Of Ventia’s 16,000 strong direct workforce 87% live within an hour’s commute.
“We want to quantify our socio-economic impacts to help us understand better the effectiveness of our initiatives and to offer clients a comparative insight into our performance against other suppliers. The TOM System helps us demonstrate the impact of the choices we make to support local communities, to spend with local businesses and to employ local people, prioritising those people and places where we can have the greatest positive impact.”
Aaron Reid, General Manager for Social Sustainability,
Ventia Group
About Social Value Portal
For over a decade, Social Value Portal’s people, technology and consultancy services have guided organisations through every step of their Social Value journey. Powered by the leading measurement standard, the Social Value TOM System™, they offer accuracy, compliance, and integrity.
For more information, visit socialvalueportal.com.
Source: Social Value Portal, August 2024
