RSVT is provided by RSSB and Loop (formerly known as SPC) and co-funded by Network Rail. The tool was developed as part of a progressive evolution of the Common Social Impact Framework for Rail. The RSVT will enable the social value of projects and activities to be captured through monetised and non-monetised indicators across a range of social impacts.

RSVT is freely available to the GB rail and will enable the industry to:

  • Forecast, monitor and report on social value.
  • Calculate the Social Return on Investment for activities, projects and programmes.
  • Calculate economic impact through LM3 (local multiplier 3) and GVA (gross value added).
  • Capture qualitative (non-monetised) social value data.

Monetised values in the tool are calculated in line with HM Treasury Green Book Principles. This is the most robust form of monetising social value and is used in public sector policy appraisal and economics.

The tool will go live to early adopters from the end of November 2021. The early adopters’ phase will be used to capture feedback and resolve any initial issues that may be identified.