British Land has launched a £25m social impact fund focusing on employment, education and affordable space.
The fund will comprise at least £15m of cash contributions and £10m of affordable space by 2030.
BL said it plans to utilise the fund to deliver impactful education partnerships benefiting 80,000 people by 2030, employment partnerships to benefit 10,000 people and affordable space at its Broadgate, Regent’s Place, Paddington Central, Canada Water, Ealing Broadway, Fort Kinnaird, Meadowhall and Teesside Park assets.
The REIT said it planned to begin reporting on the social value created by the new initiatives later in the year.
Anna Devlet, head of social sustainability at British Land, said: “We recognise that our places thrive when local people and organisations prosper, meaning our enhanced social impact commitments are not just the right thing to do but also make good commercial sense. By collaboratively addressing local priorities through a place-based approach, we are confident in our ability to make tangible, meaningful impact and grow social value and wellbeing in the communities in which we operate, all while curating places that people truly prefer.”
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