Peabody publishes first ESG report

Peabody has published its first ESG report which is available to download at https://www.peabody.org.uk/media/15382/esg-report-2021-final.pdf

The report details Peabody's annual performance against the 48 sector wide metrics set out in the Sustainability Reporting Standard for Social Housing. These were developed collaboratively with 18 other housing associations, banks, investors, service providers and impact investing organisations and published in November 2020. 

The Standard is organised into 9 themes, and the Peabody report follows this format.  They are:  Affordability and Security; Building Safety and Quality; Resident Voice; Resident Support; Placemaking; Climate Change; Ecology; Resource Management; Structure and Governance.

Key highlights in 2020/21 include:

Social

· Rents £477m lower than the market with an average rent of £120 per week

· £394m investment in new and existing homes

· £33m building safety spend

· £8m investment in community programmes

Environmental

· 3-year sustainability strategy in place

· All new homes EPC B or above - average new home SAP rating 86.4

· Over 4,000 new trees planted as part of green infrastructure programme in Thamesmead

· Helped residents save £30,000 on their energy bills

Governance

· All employees paid the Real Living Wage or London Living Wage

· Retained the highest possible rating for governance (G1) and compliant viability rating (V2) from the Regulator for Social Housing

· 20% social value weighting in procurement for goods and services. Measuring social value benefits alongside quality and cost

Anthony Marriott, Director of Treasury and Corporate Finance at Peabody said: "The UK social housing sector's impact is significant and wide-ranging. We know we can help change lives for the better by working intelligently and in partnership with others - through our supply chain, with investors and lenders, and with like-minded not-for-profit organisations in our communities. I hope this report highlights how we are doing this.

Peabody is an A grade investment proposition and we want to do as much as we can to provide genuinely affordable rents, invest in homes and places, and drive a culture of continuous improvement for the benefit of people and the planet."

Lord Kerslake, Peabody Chair said: "Our first ESG report highlights the enormously positive impact Peabody makes, but it is also a tool to drive improvements in the future. We are not complacent, we want to do better, and the process of reporting against these important criteria will help us to do that year on year. 

Through investment, innovation, and partnerships we will aim to deliver more and increase our impact. In particular, the Board is passionate about boosting our residents' voice and influence on our decision making as well as improving satisfaction with our services."  

ENDS

About Peabody

As one of London's oldest and largest not-for-profit housing providers, Peabody's mission is to help people make the most of their lives, drawing on nearly 160 years of history and expertise.

We do this by developing and delivering reliably good modern services, building and maintaining the best quality developments, working with local communities and building long-term partnerships, and growing and using our position of influence to create positive change. We have responsibility for over 67,000 homes, with 155,000 residents and 16,000 people who benefit from care and support services.

We have four clear priorities to help us deliver our mission:

• Great customer experience - co-creating thriving communities through a local focus

• Great social impact - creating resilience and preventing homelessness

• Great homes and places - investing and maintaining for the long-term

• Great place to work - establishing diverse, inclusive, engaged and creative teams