The social determinants of health (SDH) – the conditions in which people are born, grow, live, work and age – have a significant influence on public health. In England, those living in the 20% most deprived areas bear the greatest burden, with emergency hospital admission rates due to infectious disease almost twice as high as compared to the least deprived (Gov.UK).
These disparities are not inevitable. With the right support, tackling the root causes of poor health can prevent or improve poor health outcomes, increase healthy life expectancy, and create thriving places and communities.
Building on this recognition, L&G announced a £3 million ‘Health Equity’ Fund in 2024 as part of its ongoing partnership with Sir Michael Marmot and the UCL Institute of Health Equity (IHE). The Fund will support place-based initiatives tackling the driving forces behind health inequality in the UK.
The economic case for health equity
The influence of SDH is shown to impact both society and the economy at large. L&G’s long term partnership with Sir Michael Marmot CH and the University College London (UCL) Institute of Health Equity has explored the role of business in reducing health inequalities in the UK. Its research has shown that business and investor involvement in addressing health and social inequalities can drive positive outcomes for people and communities, while generating commercial and economic benefits (such as increased productivity) at local, regional and national levels.
L&G has a long track record of investing in health equity and SDH through direct investments, stewardship, high-calibre academic and public sector partnerships, and using its role as an investor to positively influence peers.
Supporting local initiatives: funding recipients announced
The L&G-IHE partnership already supports place-based improvements in health equity through the Health Equity Network, a 6,000 strong cross-sector forum that shares ideas, challenges, and successes in addressing and improving health equity from across the UK.
The Health Equity Fund was created in response to the research from the partnership, and drew on the expert input of the Network Advisory Board, who reviewed and endorsed final award recommendations.
Funding grants have now been awarded to a range of applicants across the UK. The selected organisations will strategically deploy grants to address the SDH which have an influence on local and national public health outcomes.
View the organisations and projects that are set to receive funding
“The response from organisations across the country applying for this grant funding was both incredible and depressing. Over 1500 applications were received, reflecting the desperate need caused by government budget cuts to organisations committed to improving lives. Yet the response also fills me with hope, as it shows how many understand that closing widening health gaps starts with improving people’s social circumstances.”
Showcasing some of our awardees
The power of place-based partnerships
The Fund’s focus on place-based, localised initiatives is a recognition that they are essential to tackling the social, environmental, and economic challenges facing the UK, including improving public health.
L&G has spent over a decade building partnerships not just with government and local authorities, but also sector- and world-leading institutions who are aligned with us on the desire to be both impactful and innovative.
Local partners have ambitions and duties of care, which can be realised with the support of institutional investors. Combining place-based insights and investment expertise can help precisely target local needs to deliver positive social and economic outcomes that serve regional and national needs.
Spotlight on the North East
Of the £3 million total funding, £1 million was allocated to the North East of England as a trailblazer fund in recognition of health equity being a key priority for regional leaders in the North East Combined Authority.
Youth Focus North East is one of the successful initiatives receiving funding, to support their efforts to improve the lives of young people through high-quality youth work.
The organisation will use their grant to deliver a structured programme of work that puts young people at the centre of designing, delivering, and evaluating services that affect them – driving improvements in health equity support services, empowering young people with new skills and opportunities, and making them active partners in improving youth health outcomes.
Looking to the future: Delivering lasting impact
The Health Equity Fund represents a significant milestone in L&G's ongoing commitment to addressing health inequalities in the UK. By supporting place-based initiatives and partnering with local organisations, L&G is helping drive positive change and improve health outcomes for some of the most disadvantaged communities. The research and insights from these projects will be analysed thematically, with results shared with grant recipients and the Health Equity Network (HEN) to promote learning, transparency, and strategic development.
“A stable economy and healthy society go hand in hand, and businesses and investors can help support both. With regional prosperity depending on people’s health, reducing disparities in social determinants of health should be a priority for investors and government. Grant funding is just one way businesses and investors can help improve health outcomes, empowering initiatives that deliver more vibrant, healthier, and happier communities across the UK.”
Our ongoing health-related activity
L&G’s previous and ongoing health-related activity also ranges from delivering energy-efficient homes – one of many ways that housing providers and investors can both protect their assets and support improved occupant health outcomes; funding the University of Edinburgh’s Advanced Care Research Centre to help advance our understanding of how we can live, work, and age more healthily; and supporting the Centre for Progressive Change’s Safe Sick Pay campaign. Previous and ongoing projects from L&G’s partnership with the IHE include:
- A review of health inequalities and the role of business in tackling these – The Business of Health Equity: The Marmot Review for Industry, a report by the IHE supported by L&G
- The Health Equity Network, which currently has over 6,300 active members from UK public authorities, health professionals, and businesses, to support idea creation, sharing of best practice, insight, and innovation to tackle health inequality with a place-based approach
