Environmental, Social and Governance (ESG) performance
At RHP, we believe in the need for sustainability, resilience and the importance of ESG considerations in investment decisions. Our approach to ESG components is essential to how we create a better business and a better society and we believe in demonstrating excellence in not only what we do, but how we do it.
One three key areas of focus with respect to the environment as follows:
Innovative approach to housing including LaunchPod and leading ‘Building Better’ programme:
- Leading the ‘Building Better programme’ driving sector wide approach to procuring a framework of modular/offsite build housing.
- Trailing SMART technology in new and existing homes to improve the customer experience and overall efficiency by reducing the costs of ongoing repairs and maintenance in our homes.
- Programme of trail and installation of SMART technology in lifts and lighting in communal areas to fix the problem before the customer realises there is one and ensure repairs visits focus on the right parts first time.
Improving the EPC rating of our stock
- We are keen to ensure we improve the EPC rating of all our stock, with particular focus on those properties below a band C.
- We have a target date of before 2030 to ensure all of our properties achieve this rating.
Our two key areas of focus with respect to the social impact we have are:
For our customers:
- Providing more affordable housing in an area of acute need.
- Seeking to provide housing for the forgotten ‘middle-market’ of young renters unable to get on the housing ladder sharing inadequate housing.
- Recognised by the DWP as leading the sector in providing benefit and Universal Credit advice.
- Hardship fund set up for those practically adversely affected by Covid-19.
- Enhanced void standard in our properties compared to peers to assist those in moving into a new home with limited means.
For our employees:
- Health and mental wellbeing benefits package including subsidised gym membership, Simply Health cash plan, ‘Mind Matters’ champions (mental health first aiders) and subsidised mindfulness actives.
- Apprenticeship scheme in place for over ten years, with the aim of creating job opportunities for young people between 16-19 years old, providing them with the support and training needed to get into permanent employment.
We have a strong approach to the governance of the organisation.
- Since our inception in 2000 we have retained a G1 Governance rating from the regulator (or equivalent).
- Our tenant Board member is currently under recruitment.
- Group Board of nine plus the Chief Executive – no constituency quotas since January 2005.
- Strong controls and governance including internal audit, risk frameworks and detailed risk management, detailed stress testing of business plan, excellent health and safety management.
Stock age - the majority of the portfolio was purchased from Richmond Council in the Large Scale Voluntary Transfer in 2000.
RHP undertook limited development activity prior to 2017, since 2017 RHP borough in an experienced team, introduced robust processes and procedures and increased our ambitions.
Approach to asset management
- 100% compliance with decent homes standard.
- Investment £7-9m per year in major works.
- Detailed five year stock investment plan.
- Additional investment in ensuring all re-let homes are comfortable including carpets and decorations when customers move in.
- Targeted disposals strategy as properties become vacant if high value or where substantial capital expenditure is required – limited to < five per year.
- Work underway on requirements for energy efficiency standard in 2030.