To help inform practices which lead to safer environments, the Foundation is keen to understand how safety is valued, across sectors and globally, and whether current valuation methodologies are fit for purpose. Our hypothesis is that, while methods exist to consider economic value, other aspects of value – sustainability, environmental, and social, for example – do not readily feature. Updating valuation methods would enable these broader elements to be considered, and for decisions to be based on a more holistic understanding of costs and benefits.
Delft University of Technology (TU Delft) – the largest technical university in the Netherlands and a top research institution globally – has been commissioned to undertake this work.
The team at TU Delft, led by Dr Ming Yang and Dr Genserik Reniers, aims to understand and assess the status, and effectiveness, of current methodologies to value safety, while exploring opportunities to make improvements where needed. Through an integrated multi-method approach, the study comprises a literature review and use of qualitative interviews and questionnaires to understand current practice. Findings will be reported in early Autumn 2021.
The evidence and insight generated by this study will support understanding of the value of safety and help to identify how further work in this area will drive impact.
We’re grateful to have received support in steering this work from John Dony, Senior Director of Thought Leadership and Director of the Campbell Institute at the National Safety Council, and Natalie Nicholles, Senior Director at Capitals Coalition.
A blog on the True Value of Safety, written by Natalie Nicholles, and Malcolm Staves, Global VP Health & Safety, L’Oréal can be found here.
For further information about the project, please get in touch via the form below.