Social value is becoming more prevalent throughout rail. As a result, the societal impacts of our decisions are now steering the way we develop and operate the railways, and how outreach programmes are created to provide a lasting social, economic and environmental legacy.
The RSVT supports organisations in forecasting, measuring and evaluating outcomes and social impact in a way that can be easily shared with industry and beyond. Organisations can identify opportunities to increase the benefit they offer, track outcomes of project, or review operations and to see achievements.
The data generated can be used in many ways. For example, to track performance and share with stakeholders in reports, or Environmental, Social and Governance publications, or Corporate Social Responsibility publications. Similarly, the accessible nature of the information, in pounds and pence, can be easily shared directly via social and printed media.
The monetised and non-monetised values enable users to monitor a range of information and provide engaging and credible stories. For consistency with industry and public sector, the monetised values are aligned with HM Treasury Green Book Principles.
RSVT is provided through a partnership between RSSB and Loop with support from the Department for Transport and Network Rail in developing, testing and its evolution. With help from industry groups insights RSVT’s guiding principles and functionality are regularly updated to meet the needs of users.