WE ARE COMMITTED TO SUSTAINABLE HOUSE BUILDING AND PLACE MAKING
We design and develop high-quality, sustainable build to rent developments that exceed the expectations of our residents and our investment partners.
OUR BUILDING A LIVING LEGACY STRATEGY
Our expertise, sector knowledge and focus on sustainability is the combination that really sets us apart. Our homes are specifically designed to be places our residents can live in, stay in and enjoy for years to come. We help to enhance communities by revitalising regeneration areas and creating new and exciting experiences. Sustainability, longevity, passion and value are woven into every aspect of our business – into our practices, materials and processes. Our focus on sustainable building and living is called Building a Living Legacy (BLL) and we have committed to becoming a net zero carbon developer by 2030. Our BLL strategy sets out a commitment to economic, social and environmentally responsible development, creating places that stand the test of time and that make a positive long-term contribution to the built environment.
We're delighted to be ranked as the UK's most sustainable housebuilder in the NextGeneration benchmarking report for the second year running. This aware is recognition of the role we are playing in reducing our carbon footprint across our portfolio, as we strive to become a net zero carbon company by 2030.
The pandemic, the climate emergency and the evolving cost of living crisis are bringing into even greater focus the societal need for a ‘just transition’ which seeks to ensure that the benefits of a transition to a green economy are shared widely across society. Customer, community and partner aspirations for wellbeing and lifestyle have increased. In late 2021, we commenced our third BLL Materiality Review. But for the first time, this is being informed by the double-materiality approach, first introduced (April 2021) in the proposed EU Corporate Sustainability Reporting Directive (CSRD), and gradually making its way into many other sustainability reporting frameworks.
The double-materiality approach means assessing both the impact of sustainability issues on a company, and the impact of the company’s activities on the environment, communities and people. These issues are dynamic – what is a pre-financial impact today may become a financially material issue tomorrow. Accordingly, we reviewed and incorporated into our previous questions, both SASB and Industry material issues. By engaging with more than 100 stakeholders, plus our staff, we aim to ensure our BLL strategy is purposeful and relevant in the short to the longer term. Read our Sustainability Report for our top 10 priorities from this review.
Our Executive Committee provides oversight of our BLL strategy. The BLL Steering Committee meets every quarter to provide governance and to ensure our strategy and objectives are successfully implemented within an appropriate risk framework. Our CEO chairs the Committee, which is made up of senior leaders from across all business functions, therefore embedding sustainability as a golden thread throughout Telford Homes.
The Steering Committee is supported by BLL departmental champions who participate in various company forums. Our advocacy structure extends to inviting third-party experts to our Steering Committee, to share knowledge and to inform our thought-leadership. This approach complements the sustainability roadmap goals that are cascaded within all staff performance development reviews, which link to appraisals and remuneration.
During 2020 and 2021, our BLL strategy risk profile did not significantly change because we had future-proofed our business – by being engaged in advocacy networks dealing with, by way of example, the new London Plan (March 2021) and the FHBS (June 2021). The 2021 BLL Principal Risks and Uncertainties Register can be seen here. Whilst we note such UK changes, wider geo-politics are influencing sectorial commodity and labour price increases, which in turn, are impacting the capital costs of delivery.
In addition, our five year BLL review of completed projects, which can be seen here, has helped inform a new 2022 BLL Principal Risks and Uncertainties Register. We recognise that a greenium for future-proofed assets that are protected from becoming stranded and/or obsolescent are becoming more attractive to investors and customers. This is evidenced through real estate attaining strong BREEAM certification scores and increasingly for residential schemes with high EPC ratings. As green finance, mortgages and bond issuance become more common, and the FHBS is being embedded, our management of corporate and project risks will continue to underpin our brand proposition, and the provision of new sustainable homes.
OUR SUSTAINABILITY PILLARS
Our Building a Living Legacy strategy consists of four pillars: