Sustainability is fundamental to our social purpose at Bromford. It is integral to our relationships with our customers and communities, the decisions we take on new and existing homes, and the way we are funded. It is also fundamental to our core purpose of providing affordable, safe, and secure homes to those who cannot access the private housing market, and to helping customers feel empowered and able to thrive. That’s why it has been a priority for us for some time now – shaping the way we operate to better protect the environment and the society around us, while ensuring that what we do today doesn’t compromise where we want to get to tomorrow.
Sustainable Finance Framework
Our Sustainable Finance Framework aligns our future financing to strategic commitments, underpinned throughout by the UN Sustainable Development Goals. Launched in 2021, it was the first in the sector to be accredited by S&P Global Ratings. It encompasses funding options including UK listed bonds, UK and US private placements, bank facilities (revolving and term debt). The framework is aligned to the International Capital Markets Association principles for: green bonds, social bonds and sustainability bond guidelines. It also satisfies Loan Market Association principles for green loans and social loans.
Sustainability linked loans (SLL)
Our SLLs bridge our finance with our purpose. The revolving credit facilities see margins and fees on the loans ratchet down as long as we successfully meet preagreed ESG targets, in relation to increasing the energy efficiency of our existing homes and reducing our gender pay gap. Greater energy efficiency means warmer, cheaper homes for our customers, while promoting gender equality is quite simply the right thing to do. These targets also encourage us to continue to put in place the right reporting and measures to deliver on what we say we will. The savings we do generate will be re-invested into projects which support and empower our communities.
Sustainability Reporting Standard for Social Housing (SRS)
The SRS was launched in November 2020 as a valuable voluntary reporting framework designed to help housing providers report on their ESG performance in a transparent, consistent and comparable manner. We have published our SRS performance so that we and out stakeholders can see how we compare to our peers, but we believe our approach to sustainability is as unique as the people and communities we serve, so we will always look to go beyond the sector standard. The SRS includes 12 themes and 48 criteria, across all areas of Environmental, Social and Governance, and has been adopted by over 100 housing providers, banks and investors. The standard has been designed to align with both the ICMA and LMA Social and Sustainability Bond Principles and can help housing associations meet the reporting standards required by the ICMA and LMA. These metrics help us to demonstrate how we interact with people, places and the planet.
Building a sustainable future: our sustainability impact reports
Read our sustainability impact reports below: