"While fully understanding its implications across various aspects of a business can be daunting, especially at first, it is crucial for long-term success."
All businesses, whether long established or newly formed, face a constantly evolving array of challenges as environmental and social issues increasingly shape operational procedures and business models. At the heart of this is a single concept: sustainability.
Sustainability is a multifaceted concept that can hold different meanings for different people. Therefore, every business must carefully tailor its approach to ensure that the measures implemented are meaningful, manageable, balanced, and — there’s that word again — sustainable. While fully understanding its implications across various aspects of a business can be daunting, especially at first, it is crucial for long-term success.
As we move further into 2024, the conversation around sustainability and corporate responsibility is more relevant than ever. Businesses across all sectors are being called upon to go beyond profit-making and take meaningful action on environmental, social, and governance (ESG) fronts. For those in the mortgage and property sectors, where the impact of operations on the environment is significant, this shift is crucial.
To order to implement successful processes and procedures it’s also good to understand what other businesses are doing as there are often synergies and things to learn but not everyone knows where to start.
One simple question we continue to ask ourselves is – are we operating as a responsible business?
We’d like to think we are but there are always going to be ways to improve and it’s understanding how, where, and why these improvements can be implemented that are key to present and future success from a sustainability perspective.
In June 2024, we initiated a series of upgrades at our National Operations Centre in Derby. These renovations include the installation of LED lights, new air conditioning units, and energy-efficient window upgrades. Upon completion, these improvements are expected to save approximately 12 tonnes of CO2e annually.
In addition to this energy efficient refit, we have implemented a range of alterative green initiatives, including the installation of 10 EV chargers at other offices in the Group and the launch of a cycle-to-work and car leasing scheme for our people to have access to a hybrid or electric vehicle.
The relationship between our suppliers is grounded in a strong value system. Our development and goals are largely influenced by our suppliers, are committed to operating our business with high ethical standards and in a sustainable way. We acknowledge that our goals can only be achieved with collaboration. This commitment can be seen with our ongoing partnership with EcoVadis, in 2024 we have been awarded with bronze status which puts us in the top 35% globally.
For mortgage lenders, implementing their own set of achievable sustainability initiatives is achievable and partnering with a company that prioritises sustainability can offer significant advantages. Not only does it align with the growing demand for environmentally responsible practices, but it also reflects a broader commitment to ethical and forward-thinking business operations. And these are issues that we can ill-afford to ignore.
We are now developing our plan towards Net Zero in 2024, As we progress, we are constantly refining our approach, especially as we gather more data to support our plans. We also acknowledge that achieving our Net Zero targets involves numerous variables and uncertainties that are outside of our influence, such as policy makers, governments, and suppliers.
