The Sustainability Reporting Standard for Social Housing (SRS)
The Sustainability Reporting Standard for Social Housing (SRS) was launched in November 2020.
The Standard was set up in response to concerns that ESG investment in social housing was being inhibited by the absence of a common reporting standard. As with many other sectors across the economy, there had been a multitude of ESG reporting frameworks, resulting in reporting that lacked transparency and was prone to inconsistency. Moreover, it was apparent many housing providers were being asked to report on ESG criteria not relevant to the social housing sector.
The SRS is a voluntary reporting framework, covering 48 criteria across ESG considerations such as zero carbon targets, affordability, safety and resident voice.
The sector has made a great start in adopting ESG reporting, which many believe will become mandatory in the future. The Standard is already playing it’s part in securing long term well priced finance for the Social Housing sector.
It is enabling housing providers to report on their ESG performance in a transparent, consistent and comparable way. This is making it easier for lenders and investors to assess the ESG performance of housing providers, identify ESG risks and pursue opportunities to create positive social and environmental outcomes.
Today, over 120 organisations have signed up to SRS as either SRS adopters or endorsers. 35 of these are the major Lenders or Investors to Housing Associations. Beyond the 100 adopters, many others are using the Standard but not publishing their report this year.
If your organisation is interested in becoming an SRS Adopter, please see here.
Sustainability for Housing
From 2021, the Standards are being promoted and developed by Sustainability for Housing, an organisation set up in 2021 by the founding working group. Brendan Sarsfield, ex CEO of Peabody, has been appointed its first Chair. Other Board members are :
- David Cleary, Managing Director, Head of Housing Corporate & Institutional Coverage, Lloyds Commercial Banking
- Sarah Forster, Chief Executive, The Good Economy
- Robert Hall, Associate Director: ESG, Impact & Innovation, Federated Hermes Inc
- Martin Hurst, former senior civil servant working on environmental issues and experienced Housing Association NED
- Craig MacDonald, Global Head of Fixed Income, Aberdeen Standard Investments
- Julie McDowell, ESG and Responsible Investment Specialist and Chair, Blackwood Housing & Care
- Fayann Simpson, Board Member and Resident, L&Q
- Sarah Smith, Chief Financial Officer, Optivo
Both the National Housing Federation and Scottish Federation of Housing Association have also nominated Observers to support the Board.
Brendan Sarsfield says “ The Housing and Finance sectors have shown great leadership in preparing Social Housing for the emerging world of ESG Finance. We believe the Standards help attract more and cheaper money to the sector so it can meet the challenges of Carbon Net Zero, lack of affordable housing and the needs of its residents.”
The Board would like to thank the following for their financial support in developing and launching the Standards:
- Catalyst Housing
- Centrus
- Lloyds Bank Commercial Banking
- Network Homes
- Optivo
- Peabody
- Settle Group
- The Housing Finance Corporation
- Great Places Housing Group
- HACT
- JLL
- MORHomes
SRS News
Why a social housing ESG reporting standard matters to investors
Read the article from Craig Macdonald, SRS Board member - Here
Adopt the SRS
If your organisation is either a housing provider or a lender/investor in social housing, you could be eligible to join around 100 other SRS adopters.
All SRS adopters receive support and guidance in implementing the Standard. The objective is to enable housing providers to report on their ESG performance in a transparent, consistent and comparable way. For lenders and investors, the aim is to make it easier for them to assess the ESG performance of housing providers, identify ESG risks and pursue opportunities to create positive social and environmental outcomes.
If you believe the SRS could support your organisation to achieve its mission, please get in touch at [email protected]
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