AnnualReportFinancialStatments2023

Annual Report &

Annual Report & Financial Statements 2023 Implementing our Partnership Model Cont. Strategic Report Leadership sustainability training Sustainability is always considered in decision making at the highest level of the business, and the Executive Committee were provided with sustainability training in December 2022 by Shaun McCarthy OBE, Chair of the Supply Chain Sustainability School. Training on various sustainability issues is also provided to the Executive via quarterly Executive Sustainability Committee meetings – for example on carbon emission scopes and carbon reduction plans at the June Committee. Our Chief Executive received detailed carbon accounting training in January. Using this knowledge, Tim Beale spoke at the ‘Greener Supply Chain – a Homebuilders View’ conference in October 2023, delivering a message on the importance of carbon reduction in the homebuilding supply chain. Benchmarking Keepmoat is in third place among privately owned homebuilders in the NextGeneration Sustainability Benchmark’s 2023 scores, released in December 2023, increasing our 2022 score by six points. We are 10th in the benchmark overall and 9th on the basis of public disclosure. Since 2021 we have risen seven places. The Benchmark scores 27 major UK homebuilders, including large listed businesses and some social housing providers, on 15 categories of sustainability performance. Carbon emission targets In line with our public commitment to set sciencebased carbon emission targets, we developed these together with long term and net zero targets in June, submitting our proposals to the Science Based Targets initiative (SBTi) which have since been verified. This package of targets aligns with the SBTi’s Net Zero Standard, ensuring carbon emissions are being cut fast enough in the short term, and that a long-term plan is being put in place to cut carbon to sufficiently low levels to achieve net zero before offsetting is considered for residual emissions. The Initiative ensures commitments align with global ambitions to limit the effect of climate change on global average temperatures to 1.5 degrees above pre-industrial levels. This is regarded by the Intergovernmental Panel on Climate Change (IPCC) as the temperature beyond which climate change impacts become considerably more damaging. Read more about this in the Climate Change section of this report (pages 96-107), where you can also read about our governance of climate-related risks and opportunities. Continuous improvement Keepmoat is in third place among privately owned homebuilders in the NextGeneration Sustainability Benchmark’s 2023 scores, released in December 2023, increasing our 2022 score by six points. We are 10th in the benchmark overall and 9th on the basis of public disclosure. 50 KEEPMOAT.COM 51