Midland Heart outlines its sustainability journey in latest ESG report

Midland Heart publishes it's Environmental, Social and Governance (ESG) Report 2023.

19th Oct 2023 - Investor news

For the third year running, housing association Midland Heart, has published its Environmental, Social and Governance (ESG) report in compliance with the Sustainable Reporting Standard for Social Housing (SRSSH), which outlines the organisation’s contributions to the UN’s Sustainable Development Goals, strategic commitment to tackle issues of climate change, and the structure and governance in place to ensure this is achieved.

Alongside the organisation’s ambitious Carbon Reduction Plan, the ESG report is a well-documented overview of Midland Heart’s performance and pathway to reducing carbon emissions, in ‘the homes we rent, the homes we build and the way we work.’

Highlights include significant improvements made to the energy efficiency of their homes, with 98% of homes achieving EPC D and 68% achieving EPC C, ahead of organisational targets, contributing to a 20% reduction in total carbon emissions since 2019/20.

The housing association also reports that it’s Money Advice Team were able to sustain 99% of tenancies and maximise tenant income by £2.5m, despite the intense cost of living increase.

The organisation has managed to deliver this performance, whilst retaining the highest possible G1/ V1 rating from the Regulator of Social Housing, and strong credit rating of A1 with negative outlook, from Moody’s Investors Services.

Midland Heart has continued to benchmark progress through the SRSSH, having adopted this approach back in 2020 to ensure consistent and transparent reporting of sector priorities and performance.

Joe Reeves, Executive Director of Finance and Growth, said:

“I’m proud to be showcasing such strong progress in this year’s Environmental, Social and Governance (ESG) report, in compliance with the Sustainable Reporting Standard for Social Housing, despite significant challenges within the sector and changes to our macro-economic environment over the course of the last year.

"We have remained resilient and focused to stay the course in our journey to net zero, building £80m into the business plan to achieve EPC C for all properties by 2030. We will continue to work with partner organisations to deliver safe, sustainable, and affordable homes, positive social value for our tenants and their communities and champion initiatives that serve to protect our environment.”

Read the full report.