Kate Henderson
Kate Henderson is Chief Executive of the National Housing Federation (NHF), the voice of housing associations in England.
...moreTime to embrace ESG reporting standards
Kate Henderson argues that the sector should embrace standardisation of environmental, social and governance risk reporting
Did you know that housing associations save their residents £9bn a year in rent, compared to what residents would pay if they rented privately?
How do we know this? This figure was worked out by the National Housing Federation (NHF) using sector-wide rental data from the Regulator of Social Housing. A single figure that paints a powerful and concrete picture of the value that housing associations bring to our society and, most importantly, to people on the lowest incomes in this country.
Having this kind of data on a national scale is one of the best ways to demonstrate to policymakers and the public the work of our sector and the long-term value housing associations bring to the communities they serve and indeed the country as a whole.
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Sadly, sector-wide data on our social impact is lacking and it inhibits us being able to tell our story and drive public and political support for our social mission. So what can we do to generate this kind of data across our sector’s activities and impact? One answer lies in the Sustainability Reporting Standard for Social Housing (SRS).
It’s been over a year since the launch of the SRS, a reporting standard developed to deliver greater confidence in environmental, social and governance (ESG) investment in social housing.
“This will be the first time that we can report in a consistent and collective way on the impact we make, while also demonstrating how we are managing ESG risks such as climate change, stakeholder rights and equity, and diversity and inclusion”
It was launched in response to an absence of a consistent reporting framework throughout the sector, meaning that information shared with lenders varied and lacked transparency, and housing associations could be asked to report on criteria that was not relevant to social housing.
The SRS addresses all of these issues, covering 48 relevant criteria across ESG considerations such as zero-carbon targets, affordability, safety and resident voice. More than 100 organisations have already signed up, including 35 major housing association lenders, showing strong support for the model.
What is really exciting about our sector adopting the SRS is that this will be the first time that we can report in a consistent and collective way on the impact we make, while also demonstrating how we are managing ESG risks such as climate change, stakeholder rights and equity, and diversity and inclusion.
It also enables us to be more open as a sector about where we can improve.
At the NHF we support the move towards standardisation and think that it can deliver a host of benefits. Not only is it good for ensuring that housing associations attract sustained investment to deliver on their social purpose, it also generates a huge bank of data about the sector as a whole, which is a vital resource in being able to tell our story to policymakers and restore confidence from the general public.
This is especially needed at a time when housing associations are facing intense financial challenges and greater scrutiny than ever before in our history. Added to this, people on the lowest incomes who rely on our sector are facing a cost of living crisis that will push many more families into poverty and further intensify the need for social housing.
We are encouraging our members to explore signing up to the SRS so that they can maximise the potential benefits and because we are stronger together.
Kate Henderson, chief executive, National Housing Federation
