A new online tool to help the rail industry measure the social value of its investments, infrastructure projects and day-to-day operations has been launched today.

The Rail Social Value Tool (RSVT), co-funded by Network Rail, is provided by the Rail Safety Standards Board (RSSB) and Loop (formerly Social Profit Calculator).

The RSVT allows the rail industry to forecast, monitor and evaluate the social value of its activities. This is about measuring the impact on the welfare and wellbeing of both individuals and wider society, the net positive (or negative) social, economic and fiscal value that a project, organisation or specific initiative generates.  

With 500 indicators, organised across 12 social impacts, the RSVT can measure and monetise a wide range of benefits. These include: 

• Improving safety
• Jobs created, apprentices employed and training provided 
• Change to air quality 
• Increasing biodiversity, by protecting and boosting plant and animal life, and planting trees
• Curriculum enrichment support for young people
• Design features that make rail travel more accessible and inclusive
• Employee and community volunteering
• Co-designing infrastructure and services with communities

The RSVT has undergone extensive testing since November 2021 by early adopters, including Network Rail and companies in its supply chain. 

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