SROI and Infrastructure

nef is undertaking new work to extend use of Social Return on Investment to decisions on infrastructure investment. We're starting with a re-evaluation of the case for a third runway at Heathrow Airport.

The project aims to:

1. Influence the way decisions are made on large infrastructure projects by highlighting the poverty of existing analyses, and the conflicts of interests that proliferate. The SROI on the third runway will demonstrate a model infrastructure project assessment.
2. Bring a robust analysis to the specific debate around the third runway. At present the social, environmental and economic outcomes are seen to be in conflict. The debate lacks a more dispassionate review of the evidence which challenges exuberant economic forecasts and properly values the environmental impacts, but conversely does not seek to deny potential social and economic gains simply because there are negative environmental outcomes.

Infrastructure projects once completed are with us for generations, as are their impacts. We cannot afford to make poor decisions. nef argues that a more holistic and robust approach such as SROI is particularly relevant for these projects where it can make explicit the value of often hidden costs and benefits, and thereby enhance transparency and accountability in decision-making.