Large landlord publishes sustainable finance framework with range of carbon targets
Stonewater has launched a sustainable finance framework that it says will outline its progress on environmental, social and governance factors.
The 33,000-home landlord has included a number of climate-related commitments in the framework, which received a second-party opinion from ISS Corporate Solutions.
Included in the framework is the commitment to have no homes with an Energy Performance Certificate (EPC) rating below Band C by 2030. After that Stonewater will look to raise this standard to EPC B by 2040.
The housing association is also aiming to reduce its office carbon footprint by 33% to 81.5 tons per annum and its business mileage carbon footprint by 33% to 482 tons per annum by March 2022.
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The framework contains development targets to build 1,500 new homes every year from 2022/23 and to build 6,250 new homes in the five-year period until March 2024.
John Bruton, executive director of finance at Stonewater, said: “Stonewater has been working for a number of years now to cut carbon emissions and make our homes more affordable. The sustainable finance framework makes it crystal clear what we will do in these crucial areas and when. It also enables us to measure and monitor progress.
“Investors and customers will be able to see exactly what we are doing and progress against these targets. An additional benefit of this work is that we continue to attract competitive funding at low costs.
“This will allow us to do more to invest in our existing homes, while continuing to build new, affordable homes where they are most needed.”
Stonewater said its framework aligns with the International Capital Market Association and Loan Market Association standards.
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