Environmental, Social and Governance (ESG) is an assessment of our resilience to grow as a sustainable organisation that meets the needs of our tenants and our localities.
Every year we publish an ESG report to share where we are as a sustainable organisation and our progress toward key targets. Last year we shared our achievement of minimum energy efficiency of EPC D and delivering 4,000 new affordable homes.
We are now focused more than ever on managing the impact of changes in climate and regulation on our tenants and our organisation.
What we achieved last year
We achieved everything we set out to under the last corporate plan.
- Achieved our target of c100% EPC D or above in all our homes
Built 4,000 new mostly EPC band B energy-efficient and affordable homes - Delivered Project 80, the first homes to meet the Future Homes Standard in the UK
- Delivered a £3.4m move of our West Midlands office and depot facility to a geographically better-positioned site and upgraded energy efficiency
- Increased tenant income by £3.4m (£2.6m last year), growing income and reducing debt liability in the last year alone
- Kept tenant satisfaction levels high at around 89%
These achievements, and others, have helped us to keep our SHIFT GOLD accreditation, reinforcing our status as one of the top-performing landlords in the sector for environmental sustainability.
Over the last 12 months, we’ve also spent £2 million on modernising some of our oldest homes. Carried out as the first part of our Homes for Modern Living pilot programme, the work has seen us extensively refurbish c50 homes, making them more comfortable to live in and affordable to heat.
Our ESG strategy
Our strategy is closely linked to our new five-year corporate plan, Tenants at Heart, which we published this year. As an industry-leading, responsible landlord, we want to deliver the best outcomes for our tenants, colleagues and stakeholders.
As part of this vision, we will continue to make sustainable investments in new and existing homes, which involves making record investments of c£300m in our existing homes and c£400m in building new energy-efficient, affordable homes.
We see the first year of our new corporate plan as being the most important for sustainability delivery, which is why we will be publishing a new version of our Carbon Reduction Plan. Just like Tenants at Heart, our new Carbon Reduction Plan will be tenant-centric and support the delivery of the sustainability and social value objectives within Tenants at Heart.
Commenting on our latest ESG Report, Chair of the My Impact tenant group, Trevor Stanley says:
“Environmental, social and governance are more than just words on a page, they’re impactful issues that Midland Heart manages to make sure tenants have a warm and comfortable environment to call home for years to come.
Midland Heart’s ESG report evidences all of the work being done to make homes more affordable to run, communities safer to live in, and above all, to ensure the organisation’s governance and policies reflect the priorities of tenants.
This year’s report is no exception, and I’m encouraged by the steps Midland Heart has taken to invest in creating an organisation that is resilient and sustainable for years to come, improving the energy performance of homes, and involving residents in shaping decisions that affect their lives. It’s clear that ESG isn’t just a corporate issue, it’s a commitment to doing right by the people and spaces that matter most.”
