• Challenge sees leading businesses aim to spend £1 billion with social enterprises – businesses which trade for a social purpose
  • Buying from social enterprises embeds positive social impact into everyday business spend

Lendlease is the latest business to sign-up to the Buy Social Corporate Challenge – a ground-breaking initiative seeing leading companies aim to cumulatively spend £1 billion with social enterprises.

There are approximately 100,000 social enterprises in the UK, businesses set up to address social and environmental issues which reinvest the majority of their profits back into meeting their mission. They contribute £60 billion to the UK economy and employ two million people.

The Challenge encourages companies to look at their entire supply chain from where a company buys its office snacks to the organisations it works with on site. Lendlease has already switched its stationery supplier to social enterprise provider WildHearts, who fund micro-finance projects supporting female entrepreneurs from poorer countries; and are in the process of bringing on more partners.

Paul King, Managing Director of Sustainability & Social Impact, at Lendlease said: “It makes perfect sense for us to join the Buy Social Corporate Challenge. Sustainability is at the core of what we do and is a critical element of our role and responsibility as a developer. Joining this Challenge will help us increase the positive social impact we can have as a business and it’s great to have the opportunity to do so.”

From coffee creating jobs for the homeless and soap manufactured by the visually impaired to film companies opening up creative industries to young people - there are social enterprises working in nearly every sector. The Buy Social Corporate Challenge aims to build markets for social enterprises by encouraging businesses to buy from them, using their core everyday spend to support people and communities both in the UK and abroad.

The construction industry offers many opportunities for social enterprises with businesses operating in fields ranging from food provision to waste management. Social enterprises also open up supplier diversity by creating opportunities for disadvantaged groups in the labour market, as well as being often deeply rooted in their local communities.

Commenting on Lendlease joining the Challenge, CEO of Social Enterprise UK Peter Holbrook said: “The Buy Social Corporate Challenge continues to grow, and it is fantastic to have Lendlease on board. The best way to support social enterprises is to buy from them and through joining the Challenge companies can use their everyday spend to make a positive difference to the world we live in. We hope Lendlease’s involvement encourages many more businesses to sign up - it’s money you’re going to be spending anyway so why not use it to change lives?”

ENDS

Notes

For further information please contact Shehan Perera at Social Enterprise UK – [email protected] I 020 3589 4949.

Visit www.socialenterprise.org.uk and www.lendlease.com or follow us on Twitter @SocialEnt_UK I @Lendleaseuk.

                     

 

About Lendlease:

  • Lendlease is a leading international property and infrastructure group with operations in Australia, Asia, Europe and the Americas.
  • Our vision is to create the best places; places that inspire and enrich the lives of people around the world.
  • Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 13,100 employees internationally.
  • Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers.
  • Lendlease is behind some of London’s largest and most exciting mixed-use regeneration projects such as Elephant Park and International Quarter London. In early 2018, it was appointed by Google as lead construction partner on its landmark new headquarters’ in King’s Cross and is the preferred contractor for Birmingham’s Perry Barr development, due for completion in 2020.
  • Lendlease is also responsible for the development of Euston Over Station Development, working closely with HS2, the Department for Transport and the London Borough of Camden; Network Rail and other stakeholders to optimise the outcomes for London and the UK.
  • In June 2018, Lendlease announced plans for the acquisition with Starwood Capital, subject to pre-completion conditions, of The Silvertown Partnership which holds development rights in a major urban renewal project in London’s East End.
  • Lendlease was recognised as the UK’s Most Sustainable Residential Developer by the NextGeneration Sustainability Benchmark for setting new standards of sustainability and customer engagement for two consecutive years in 2018, 2017 and 2016, scoring more than double the industry average.
  • In June 2018, Lendlease announced plans for the acquisition with Starwood Capital, subject to pre-completion conditions, of The Silvertown Partnership which holds development rights in a major urban renewal project in London’s East End.
  • Lendlease was recognised as the UK’s Most Sustainable Residential Developer by the NextGeneration Sustainability Benchmark for setting new standards of sustainability and customer engagement for two consecutive years in 2018, 2017 and 2016, scoring more than double the industry average.

 

About Social Enterprises

Social enterprises are businesses which trade for a social purpose that reinvest or donate over half their profits to further this social or environmental mission. They are an increasingly important part of the UK economy contributing £60 billion and employing 2 million people. Estimates are there are 100,000 in the UK. Research carried out by Social Enterprise UK, the membership body for the sector, shows they are outperforming traditional businesses when it comes to start-up rates, turnover growth and innovation. They are also ahead of the pack when it comes to workforce diversity and pay. For more information and statistics see Social Enterprise UK’s State of Social Enterprise Report: The Future of Business and the 'Hidden Revolution' report, launched in September 2018 which showed the true scale and impact of the sector.  

About the Buy Social Corporate Challenge

Launched in April 2016 the Corporate Challenge is now in its third year. The Challenge was launched at Number 11 Downing Street with seven founding partners and has now grown to 12 with more businesses due to join in 2019. Current partners are Amey, BP, Johnson and Johnson, Lendlease,Linklaters, LV =, Mace, PwC, Robertson Group, Santander, Wates and Zurich.

In the first two years of the Challenge £45.3million has been spent by partners with social enterprises.  The Challenge has created 329 direct or indirect jobs and an increase in awareness of the sector across the staff teams of the corporate partners. More information can be found in the Year Two Impact Report, available to download here - https://www.socialenterprise.org.uk/buy-social-corporate-challenge-year-2-impact-report

About Social Enterprise UK

Together with our members we are the voice for social enterprise in the UK. We build markets, undertake research, provide information and tools, share knowledge, raise awareness and campaign to create a business environment where social enterprises thrive.  Our members range from local grass-roots organisations to multi-million-pound businesses.

socialenterprise.org.uk