HERA is pleased to report the release of our updated Living Standards Framework assessment and supporting resources.

This comes following our work which started in 2018 when we commissioned BERL to assess the metal industry’s contribution to the NZ economy using the Living Standards Framework (LSF).

That was a pivotal publication as it was the first such assessment using the LSF not only for our industry, but any industry in Aotearoa at the time.

The LSF was developed by Treasury to assess inter-generational wellbeing based on the growth, distribution and sustainability of four interdependent capitals – human, social, physical and financial, and natural.

Click the image to view the one page infographic on the LSF.

The results of our report showed that we were a strong contributor to the NZ economy and the living standards of New Zealanders.

We followed up with a podcast interview with Treasury’s Deputy Secretary, Tim Ng, about the development and use of the LSF. Since then, we have become enthusiastic users of the LSF, including it as the basis of our Annual Reporting format.

We’re pleased to report that BERL’s update of the original assessment is now available for our members. This time it has focused in on Steel’s contribution to Aotearoa’s economy.

We have also developed a one pager infographic for our members to use and attach to their project bid documentations. We have done this because we recognise that trawling through a report is perhaps not the easiest or preferred use of the resultant data.

We understand that procurement responses now will frequently ask for broader social outcomes and this document can assist our members to provide an overview of steel’s contributions to intergenerational wellbeing.

Update shared by our CEO, Troy Coyle