Oversight of social, environmental and economic matters, including risk, is provided by leadership and robust governance which assigns clear responsibilities and effective reporting structures.
Sustainability issues are part of our overall business strategy and the Board has ultimate responsibility for considering all of these matters. Redrow has established committees examining audit, placemaking and sustainability, nomination and remuneration. Terms of reference for these committees can be found here. Details of our risk management process and risks can be found in our Annual Report and accounts here.
Our business strategy, encompassing the key themes of Building Responsibly, Creating Thriving Communities and Valuing People was developed by the executive team and other senior managers in the business. Each of the themes and the supporting principles has a senior business ‘owner’ and all parts of the business are charged with contributing to the success of the strategy. Sustainability objectives relating to our key themes are included in Board and senior managers appraisals and remuneration packages.The strategy is embedded into the way we do things across the business and this is reflected in our internal communication channels and training and development approaches.
Redrow maintains a Competency and Training Matrix for sustainability issues. This assesses the competency and training needs of all employees, by examining how they can impact on sustainability performance and/or our compliance obligations. It sets out what key competencies are required to ensure positive impacts are made and how these will be achieved – either through training or other means. Sustainability training is available for all employees on our online e-Learning platform which also includes modules from partners such as the Supply Chain Sustainability School. The detailed Competency and Training Matrix identifies role specific training for all key roles and the Leadership team are included within this. Sustainability Leadership is also included in the induction programme for all new Directors and Director’s conferences often include speakers (external and internal) on sustainability issues.
The Group’s sustainability strategy drives long-term value for its stakeholders and allows the Group to minimise risks and identify opportunities for growth. The sustainability strategy is built around the Group’s three pillars: Building Responsibly, Thriving Communities and Valuing People. Each of the three pillars have areas of focus that set out separate objectives and targets relating to the current strategy. As part of the Group’s drive for continuous improvement, objectives and targets are monitored and reviewed against the over-arching business strategy.
There is a strong governance structure in place surrounding the Group’s sustainability strategy which ensures that initiatives, objectives and targets are reviewed and approved at the appropriate levels within the organisation. The governance structure for sustainability is displayed below.
1. Ultimate responsibility for sustainability and ESG matters. Oversight of the sustainable business strategy framework.
2. Delegated authority from the Board to monitor the execution of the sustainability strategy, as approved by the Board, and to make recommendations from time to time to the Board.
3. The Board sponsor for Sustainability, being the Group Chief Executive, also sits on the EMT and is accountable to PASC and the Board for ensuring that the structure is governed effectively. Delegated authority from the Board to ensure that the sustainability strategy and ESG are integrated within the Business.
4. Meet twice per year. Nicky Dulieu, as the Designated NED for Workforce Engagement, chairs these meetings and reports to the Board on key outcomes.
5. Sponsors are responsible for overseeing the delivery of strategic aims and initiatives within each area of focus.
6. Initiative leads are responsible for the delivery of initiatives of targets and embed related procedures within the business.
7. Divisions must comply with procedures and to assist in delivering initiatives and targets efficiently and effectively. Managing Directors are accountable to ensure that any outcomes from the strategy and initiatives are embedded within the business and followed.
8. The Sustainability team administers the structure and supports Board Sponsor and EMT to deliver it. Provides strategic advice, target setting and reporting; long-term risk and policy management.
9. Working/Steering Groups are set up based on the needs and focus of the business. These groups are comprised of subject matter expects from within the business. There is a nominated lead sponsor for each group who shall report to the EMT as appropriate. The groups meet as often as necessary and exist until the particular project has completed or the business need has been met.
Greenhouse Gas Emissions
Greenhouse Gas (GHG) emissions data for the period 1 July 2021 to 30 June 2022 are set out in the table below.
|
Emissions from: |
Current Reporting Year (1 Jul 21 to 30 Jun 22) |
Previous Year (1 Jul 20 to 30 Jun 21) |
Units |
|
Scope 1 activities: • Direct emissions from combustion of fuels and business travel |
9,558 |
11,417 |
Tonnes of CO2e |
|
Scope 2 activities – Location Based: • Indirect emissions from purchased electricity and heat |
2,591 |
3,263 |
Tonnes of CO2e |
|
Scope 2 activities – Market Based |
264 |
4,682 |
Tonnes of CO2e |
|
Outside of Scopes* |
3 |
N/A |
Tonnes of CO2e |
|
Total Greenhouse Gas Emissions – Location Based: • (Scope 1 and Scope 2) |
12,149 |
14,680 |
Tonnes of CO2e |
|
Total Greenhouse Gas Emissions – Market Based: • (Scope 1 and Scope 2) |
9,822 |
16,099 |
Tonnes of CO2e |
|
Intensity ratio: |
|
|
|
|
Total Greenhouse Gas emissions per 100m2 of build (Location Based) |
2.16 |
2.84 |
Tonnes of CO2e per 100m2 of build |
|
Total Greenhouse Gas emissions per 100m2 of build (Market Based) |
1.75 |
3,11 |
Tonnes of CO2e per 100m2 of build |
Notes to the Greenhouse Gas Emissions Data
This disclosure includes all of the emission sources required under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013. These sources fall within our consolidated financial statement and we do not have responsibility for any emission sources that are not included in our consolidated statement.
We have used the WRI/WBCSD GHG Protocol – A Corporate Accounting and Reporting Standard and the emissions have been calculated using the 2022 UK Government’s Greenhouse Gas Conversion Factors for Company Reporting. Reported Scope 2 emissions are calculated using both the location-based and market based methods.
This inventory of greenhouse gas emissions has been verified by SGS to a limited level of assurance, in accordance with the requirements of EN ISO 14064-3:2006, as meeting the requirements of The Greenhouse Gas Protocol – A Corporate Accounting and Reporting Standard. Click here to view our verification statement.
Assurance of Non-Financial Data
SGS have provided independent assurance of several of our Environmental, Social and Governance KPI data within our ESG Scorecard for the financial year 2021/2022.
Click here to view our ESG Assurance statement
Environmental Management Systems
To manage the environmental impacts from our activities we operate a formal environmental management system which is externally by BSI to the international standard: ISO 14001:2015. Click to view our bsi Certificate of Registration
Task Force on Climate-Related Disclosures (TCFD)
In addition to reporting and disclosing our environmental and sustainability performance throughout our annual report, this year we have also included specific climate-related disclosures following the Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations. These disclosures are structured around the TCFD’s key four thematic areas and can be viewed in our annual report here.
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