What is social value in a rural context?

Farms and estates generate many indirect benefits for society, yet these contributions often go unnoticed. Beyond food, farms and estates provide:

• Better health and wellbeing through access to nature
• Stronger community culture and heritage
• Local jobs and housing that keep rural communities vibrant
• Environmental gains such as richer biodiversity

Despite their importance, these contributions are rarely acknowledged or financially valued. As Savills Spotlight: Social value in a rural context describes, social value is all about people – people who live on a farm or estate, work there or visit, as well as the wider communities they touch.

While environmental reporting has matured thanks to clear metrics like carbon emissions or energy and water use, social sustainability reporting lags behind. Social issues like inequality, wellbeing and labour conditions are perhaps harder to quantify, but no less vital.

The numbers

The Country Land & Business Association (CLA) published a report in 2024 that aimed to quantify the often hidden social value derived from the activities of landowners. Key findings include:

• The CLA member activities could contribute an estimated £8.7bn per year to the economy. This highlights the potential scale and impact if the government were to actively encourage farms, estates, and landowners to deliver social good
• For every £1 invested by CLA members, between £2.54 and £2.78 is returned to society, in the form of social benefits
• These benefits range from improved health and reduced isolation to enhanced skills and knowledge

As of yet, there are no social regulatory reporting responsibilities for businesses in the UK, but progress has been made in the Welsh rural sector.

Wales leads the way

In July 2024, the Welsh Government unveiled its finalised Sustainable Farming Scheme (SFS) – replacing the Basic Payment Scheme with a model that rewards farmers for delivering public goods.

Highlights include:

• £107 per hectare social value payment
• Actions to boost biodiversity, climate resilience and community wellbeing
• A collaborative landscape-scale approach

This is a bold recognition that farming contributes to society in ways that extend far beyond the market and farm gate. By contrast, Scotland and England remain in transition, with reforms underway, but currently lacking the coherence and momentum of the Welsh model.

What’s next in reporting?

Globally, momentum is building. The Taskforce on Inequality and Social-related Financial Disclosures (TISFD), launched in September 2024, aims to help businesses and financial institutions understand and report on social and inequality-related risks, impacts and opportunities.

• TISFD complements existing frameworks like the TCFD (climate) and TNFD (nature)
• Unlike TCFD, TISFD is not yet mandated in the UK
• The conceptual foundations are still in development and at this stage it’s voluntary, but forward-looking landowners can use it to help them understand their social impact and stay ahead of regulatory and reputational risks

Why this matters

Farms and rural estates are more than custodians of land, they are custodians of community wellbeing. By embracing social value, landowners can demonstrate their broader impact and unlock new opportunities for support and investment.

The challenge is now to make these contributions visible, measurable and celebrated.

Further information

Contact Nicola Buckingham or Sarah Butler