- Company to be operationally net zero carbon by 2025 and fully net zero by 2040
- Immediate commitment to invest 1% of cash profits annually into education partnerships
- Measures to be introduced to achieve net biodiversity gains across all development activity
Expert property developer and housebuilder St. Modwen has announced bold plans to be net zero carbon by 2040, and operationally net zero by 2025, as it looks to take a leading position in responsible business practices to deliver a meaningful, positive impact on society and the environment.
The net zero carbon target is front and centre of an integrated approach that sets out six key areas where St. Modwen is evolving its working practices and collaborating with stakeholders to achieve its ambitions which are linked to the UN’s Sustainable Development Goals. The other strategic areas comprise: biodiversity and sustainable environments; diversity and inclusion; education and future skills; health and wellbeing; and responsible operational practices and partnerships.
Rob Hudson, Chief Finance and Operations Officer, said the ambitious goals will help St. Modwen deliver on its core purpose of “Changing places. Creating better futures.” across its three business areas of St. Modwen Homes, Strategic Land & Regeneration, and Industrial & Logistics.
“The world is changing, and there is a new business climate where purpose and profit are inextricably linked. Given our active role in the built environment, we take our wider responsibilities seriously and understand how important it is to put into practice strategies that place people and the planet at the heart of how we do business.” “We know that the environment, good working practices and the impact businesses have on society is front of mind amongst the full spectrum of our stakeholders. This includes our colleagues, the partners we work with, the communities we serve and investors who are placing increasing emphasis on ESG in the global capital markets.”
With the building and property sector, through the construction process and usage, accounting for 39% of the world’s emissions, he said it was incumbent on leading organisations such as St. Modwen to take radical steps in changing the way they operate.
“We’ve identified much of what we need to do to meet our operationally net zero carbon 2025 ambition, including looking at every aspect of our business operations, from travel to energy sources. We are also focussing on the way we design, build and operate and deconstruct our buildings, as well as sourcing materials and products that will help us reach this target,” Rob continued.
A plan to benefit society and the environment at large
As part of its education and future skills ambition, St. Modwen aims to invest 1% of its cash profits annually from this year forward into education partnerships, which has the potential to benefit more than 20,000 young people by 2025. The company has already developed its first strategic partnership with Burton and South Derbyshire College, to address the shortfall in skilled trades, and has created a bespoke armed forces career pathway, providing employment opportunities and training courses to encourage former personnel to join the housebuilding and construction sectors.
St. Modwen has also today set out its ambition to be ready to achieve a net biodiversity gain of at least 10% associated with all development activity, as well as plans to reduce St. Modwen Homes’ site waste by a third and increase its recycling rate to 99% by 2025.
Other actions include achieving National Equality Standard for diversity and inclusion by 2025; to deliver a meaningful, positive impact on the health and wellbeing of the communities in which the business operates; and working with partners to achieve the company’s responsible business goals by launching a supply chain charter in 2020.
Find out more and see all of our Responsible Business ambitions, here: https://www.stmodwen.co.uk/responsible-business/