Stonewater Funding PLC Publication of Sustainable Finance Framework (2266C)
17 6월 2021 - 5:00PM
UK Regulatory
TIDM14MD
RNS Number : 2266C
Stonewater Funding PLC
17 June 2021
Stonewater Funding PLC
17 June 2021
Publication of Sustainable Finance Framework
Stonewater, a leading social housing provider with 33,600 homes,
is pleased to announce the publication of its Sustainable Finance
Framework (SFF) and accompanying Second-Party Opinion (SPO).
The publication of the SFF and SPO follows the recent non-deal
roadshow, as planned. The documents outline the progress Stonewater
has made in recent years on Environment, Social and Governance
(ESG) by investing in existing and new homes, as well as the wider
built environment and supporting customers through the
pandemic.
In addition to 350 properties being upgraded each year to at
least EPC C, Stonewater's annual targets in its SFF include
planting 3,000 trees and installing 200 low-carbon heating
systems.
Stonewater is an early adopter of the Sustainability Reporting
Standard for Social Housing and is keen to present as clear a
picture as possible to investors of the positive impact of their
investments.
The SFF aligns with the United Nations' Sustainable Development
Goals and other internationally recognised ESG standards and
outlines how bonds, loans and other financing instruments will be
entered into. Notable commitments in Stonewater's SFF that support
these principles include to:
- Build 6,250 new homes in the five-year period until March 2024
- Develop 1,500 new homes every year from 2022/23
- Develop strategies for sustainable procurement, sustainable
waste management and water management
- Have no homes with an EPC rating below Band C (SAP 69) by 2030
- Reduce Stonewater's office carbon footprint by 33% to 81.5
tons per annum and its business mileage carbon footprint by 33% to
482 tons per annum by March 2022 (compared to the financial year
2019/20)
John Bruton, Executive Director - Finance at Stonewater, said:
"This is a very significant moment for us and all our 75,000
customers. While Stonewater has been working for a number of years
now to cut carbon emissions and make our homes more affordable, the
Sustainable Finance Framework makes it crystal clear what we will
do in these crucial areas and when."
The SPO was provided by ISS Corporate Solutions and it verifies
that Stonewater's SFF aligns to the relevant International Capital
Market Association (ICMA) and Loan Market Association (LMA)
standards.
In addition to the SFF and SPO, Stonewater has recently had its
credit rating of A+ with a stable outlook reaffirmed by S&P.
This follows Stonewater retaining its G1/V1 rating from the
Regulator of Social Housing, after an in-depth assessment published
on 31 March 2021.
The full SFF and SPO are available on Stonewater's website
https://www.stonewater.org/about-us/investor-relations/ .
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END
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June 17, 2021 04:00 ET (08:00 GMT)
Stonewater (LSE:14MD)
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