Phoenix Group has become the first financial services company to adopt the Social Value Portal – a tool which will enable it to measure and manage the contribution that its business and supply chain makes to society.

The UK’s largest long-term savings and retirement business, in partnership with Social Value Portal, will enable it to demonstrate the holistic financial and non-financial benefits of its community engagement programme.

Andy Moss, Phoenix Life CEO said: “As a purpose-led business, enhancing our social value is really important to us, creating that all-important ‘life of possibilities’ for our customers, colleagues and communities – that is our purpose. By measuring and reporting our progress through the Social Value Portal, we will be able to elevate our community engagement programme to ensure we are best serving the needs of society. The insights gathered from reporting social value will also help us to shape our future community engagement strategy.”

Social Value Portal is an online tool that helps organisations to measure, manage and maximise social value in the community. It currently supports over 150 businesses across public and private sector to report both 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 the social value outcomes in meaningful ways that illustrate the benefits to key stakeholders.

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