Building evidence that drives insight and demonstrates is the third pillar of the Centre. By focusing on evidence and research, we believe we can support community investment being perceived as a robust area of business, rather than a nice add-on.
We have already worked alongside the sector as it starts to develop its evidence in this space. The Centre will enable this work to be accelerated, as we develop a range of tools to enhance the work of community investment programmes.
We believe that community investment is about driving impact, and we have already developed a range of approaches to help the sector measure, understand and develop its impact. The UK Social Value Bank is a core part of our work in demonstrating impact. It grew out of the community investment priorities of housing associations. And it has been incorporated into the day-to-day work of many of them.
The Centre will enable this work to be developed and further embedded across the sector. It will also look at developing new tools around measuring the economic impact of community investment, so that it can demonstrate the value for money of the investment organisations mage, as well as the positive impact it has on the business of housing associations.
There is much anecdotal evidence about this impact. Our aim with the Centre is to be able to produce rigorous evidence-based research that can be used by, and shared amongst, community investment professionals across the UK.
We have a proven track record of delivering tools that the sector wants and can use on a daily basis. The Centre will be able to continue this work.