Lendlease Annual Report 2023

42 Lendlease Annual Report 2023 Creating social value On track to reach our target Since launching our social value target in 2020, we have created $186m of social value through the work of our shared value partnerships, supported by Lendlease Foundation. We are well on track to achieve our target of $250m by 2025, with 74.4 per cent achieved at the end of year three in a five- year journey. $186m of social value created, which equates to 74.4% of our $250m by 2025 target Shared value partnerships Our shared value partnerships are assessed using a methodology guided by the principles of Social Return on Investment (SROI). Social value is accounted for through a calculation placing a financial value on the quantified change people experience across a series of social outcomes. For every dollar invested we aim for an average return on social value of five dollars. Each year we use third-party social impact measurement consultants to assess the social value created through our shared value partnerships and verify progress towards our social value target. More than 40 partnerships have now been assessed. A sample of assessment outcomes of our regional partnerships is shown below. Chicago Women in Trades, US • Supporting women in construction by providing work readiness, training and job placement opportunities • $1.6 million social value created from FY21–23 Hide Out Youth Zone, Manchester, UK • Providing young people with something to do, somewhere to go, and someone to talk to • $932,000 of social value created from FY22–23 Landcare Australia • Providing grants to schools to support environmental education activities and resources for students • $1.5 million of social value created from FY21–23 Social impact on projects and assets Our social value target and reporting does not capture social impact activities across our projects and assets. We have developed a tool to help us track our social impact efforts on projects and assets across three social metrics: skilling and training; employment, and volunteering. Skilling and Training • Manchester Town Hall Restoration, UK • As at end FY23, we've created more than 100 apprenticeships, helping local people to access careers focused on heritage and conservation in the built environment. Employment • Jordan Springs and Ropes Crossing, Western Sydney • Since 2005, the St Mary's Skilling & Employment Hub has placed more than 4,500 people in jobs. Volunteering • From FY21–23 our annual, global Lendlease Community Day, together with our Community Grants program in Australia and Asia has created $5.7m of social value. Above: Community Day in Singapore