Following a review, we are pleased to publish an update to the economic impact framework which we developed and published in June 2015. The impact framework was developed to help Environmental Bodies (EBs) provide more targeted and focused financial information such that they would be able to better evaluate the wider economic value that the Landfill Communities Fund (LCF) delivers to the economy.
The approach involves considering both the greater financial impact of the LCF and the wider social and environmental benefits provided to local communities. While changes have been made as part of the review the central aim of the framework remains the same, to provide the building blocks to help to quantify the economic value of the LCF through a range of methods. The individual building blocks, and changes to them are summarised as follows;
- Area 1 uses LCF project expenditure to estimate the value of the LCF alongside wider project expenditure. This area has not been changed.
- Area 2 uses published indices to estimate the wider economic value of the LCF, these indices have been reviewed and updated on the basis of more recently published data.
- Area 3 provides information on key performance statistics, these now include statistics required on the updated project completion form.
- Area 4 considers the wider social and environmental benefits the LCF can deliver to communities. This area has been amended to be more specific to project type.
- Inclusion of a new area, Area 5, based on the use of project case studies to highlight the benefits, in practice, of individual projects.
You can read the full report and access the framework in the document on the right hand side of this page or on the good practice and benchmarking page of our website.