Phoenix Group, the UK’s largest long-term savings and retirement business, has become the first in the financial services industry to adopt the Social Value Portal – a tool that will allow it to measure and manage the contribution of its business and its supply chain to society.
Partnering with Social Value Portal will enable Phoenix Group to demonstrate the overall financial and non-financial benefits of its community engagement program, which benefits a wide range of local communities where the group’s offices are based, including Edinburgh, London, Telford and Birmingham.
From raising funds for charity partners to improving financial literacy in schools and supporting local businesses and councils, Phoenix Group’s community engagement program aims to create opportunities for social mobility and respond to the needs of society. By using the Social Value Portal, Phoenix Group will be able to quantify the difference it is making through these initiatives.
Andy Moss, CEO of Phoenix Life and Group Director, Heritage at Phoenix Group, said: “As a purpose-driven company, improving our social value is really important to us, creating that all-important ‘lifetime of possibility’ for our customers, colleagues and communities – that’s our goal. By measuring and By reporting our progress through the Social Value Portal, we will be able to elevate our community engagement program to ensure that we are best meeting the needs of society.The information gathered from the Social Value reports we will also help shape our future community engagement strategy.
Social Value Portal is an online tool that helps organizations measure, manage and maximize social value in the community. It currently helps more than 150 public and private sector companies report non-financial and financial data, rewarding them for enriching the lives of those who live and work in the community in which they operate. It also provides the tools to report social value results in a meaningful way that illustrates benefits to key stakeholders.
Guy Battle, Managing Director of Social Value Portal, said:
“2022 marks the tenth anniversary of the passage of the Social Value Act and it is extremely gratifying for us to welcome our first financial services company to the portal at this time. We look forward to working closely with Phoenix Group to show how the financial services industry can make the most of their community engagement program, making good go further.”
Phoenix Group’s goal is “to help people secure a life of opportunity” and its community engagement strategy is always looking to push that forward, finding ways to support those in need and empower themselves. collectively tackling major societal issues in the UK and Europe. Learn more here.
Notes to Editors
About Phoenix Group
Phoenix is the UK’s largest long-term savings and pensions company, with around £300 billion in assets under management and around 13 million customers.
We are a growing and sustainable company with a clear goal: to help people secure a life full of possibility. This means making responsible and sustainable investment decisions, and using our presence and voice to defend the interests of UK savers. We understand that our scale and expertise means we have an important role to play for our customers, our colleagues and our communities.
As life expectancies continue to rise and the retirement landscape continues to evolve, we will continue to be a safe and trusted ally on the journey to and during retirement for millions of clients, providing the right advice and the right products, at the right time, to support the right choices. We offer a wide range of products for people at all stages of the savings life cycle.
Our strategy focuses on creating long-term sustainable value and, to achieve our goal, focuses on five key areas to ensure we meet changing customer needs, manage our capital well, create value, inspire our employees and put sustainability at the heart. of our business.
Phoenix is a FTSE 100 company and we are included in the FTSE100 ESG Select Index. We play an active role in helping to build back better and greener while investing for the future. In 2020, we committed to having our operations net zero carbon by 2025 and our investment portfolios by 2050. In 2021, we set an interim target of 50% reduction in carbon intensity carbon emissions of around £250bn of investments by 2030.
We are a Living Wage Employer and recognized as a Carer Positive Exemplary Employer to provide the best support to colleagues who are carers.
About the Social Value Portal
Social Value Portal is a rapidly growing online solution that enables organizations to measure and manage their organization’s and supply chain’s contribution to society. It allows them to report both non-financial and financial data and rewards organizations that do “more good” in the community. This includes the measurement of environmental, social and economic activities, helping to identify and measure the additional social value delivered by a project in meaningful terms.
The Social Value Portal launched the National TOM Framework in 2017, alongside the National Social Value Task Force. The framework provides a minimum reporting standard for measuring social value. It offers organizations a way to acquire, measure, manage and maximize their social value, integrating standards as a minimum in their measurement approach.
LinkedIn: social value portal Twitter: @socialvalueport