Here at Advantage, we’re structural warranty specialists with a strong record of working with social housing providers nationwide. In today’s blog, we’re taking a look at Lloyds Banking Group’s investment in the sector.
The banking group has unveiled plans to deliver £1.5bn of funding to social housing in 2021 with at least £500m going to projects with a clear ESG (Environmental, Social and Governance) stated ambition to help drive robust and meaningful change.
Since 2018, Lloyds Banking Group has provided £9bn of funding to the UK’s social housing sector, outstripping its original £2.25bn funding commitment by £6.75bn.
Supporting the sector in creating greener homes
The banking group states that: “This will support the sector to accelerate its investment in creating greener homes through the construction of sustainable new builds and the retrofit of existing properties to help the sector continue its decarbonisation journey.”
David Cleary, Managing Director, Head of Housing at Lloyds Bank, said that:
“Sustainability is rightly dominating the agenda for the social housing sector. The market-leading amount of funding we’ve delivered in the past three years and our plan for the year ahead underlines our ongoing commitment to social housing and to the UK’s green prosperity and economic recovery.”
The environmental and social benefits of improving the UK’s green credentials
He added: “Measures to improve the green credentials of the UK’s social housing stock is of dual benefit for the planet and for people. It benefits tenants by creating greener homes with typically lower running costs and helps tackle the climate emergency. The development of new homes and retrofitting of existing ones also supports jobs in the small and large companies undertaking the work.”
Lloyds Bank has recently backed housing association Cartrefi Conwy by way of a £22m funding package to enable it to make 4,000 homes greener and build 1,000 new homes in North Wales. The Sustainability Linked Loan was Lloyds Bank’s first for the social housing sector and provided Cartrefi Conwy with a set of environmental and social KPIs to meet to secure margin discounts on its financing. Cartrefi Conwy used the Good Economy Framework’s reporting standard to help plan their green improvements.
Whether you’re a social and affordable housing specialist or a commercial developer or you’re planning to build or convert your dream home, Advantage can provide structural warranties for projects ranging from multi-million pound developments to individual self-builds. If you would like more information, please call: 0845 900 3969, email: firstname.lastname@example.org or pay a visit to our homepage: https://ahci.co.uk/