ESG
Ribston recognise the impact the real estate sector has on the environment and its contribution to climate change. The sector is responsible for approximately 40% of annual global CO2 emissions, 20% of water use and 30% of energy consumption and as such has an important part to play in driving change.
Across the sector we all have a responsibility to actively develop strategies and implement actions to reduce our reliance on fossil fuels and to cut emissions globally.
Ribston are being proactive at planning for sustainability opportunities and risks. We are ensuring the long-term development and growth of the portfolio and striving to deliver wider positive impact on the places in which Ribston properties form part of the community.
To support this proactive approach, Ribston have appointed Savills Sustainability to support them in outlining their priorities for each strand of Environmental Social Governance and considerations towards wider sustainability issues.
Sustainability strategy
Ribston understands that ESG and climate change are now at the forefront of investment decision making and policy reform. Ribston are committed to reducing our carbon footprint and achieving ESG targets and objectives. In doing so, Ribston is prioritising the future proofing of our assets and assisting government to achieve Net Zero and Paris Proof carbon reduction targets.
In 2023, Ribston engaged an external consultant to undertake a comprehensive review of our Scope 1 and Scope 2 emissions and current sustainability initiatives, the outputs of this exercise developing our environmental baseline. Their ongoing advisory is being utilised to undertake a materiality exercise following the Global Reporting Initiative (GRI) methodology and further stakeholder engagement. The outcomes of these exercises and other ESG activities will inform the development of our materiality matrix which we will use to define our priority objectives for 2023 and beyond.
Ribston are committed to developing a pathway for portfolio emissions reduction and will be continuing to develop a credible, verified ESG Strategy and action plan.
Implementation:
• Removing fossil fuels from buildings
• Improving energy efficiency of properties, beyond MEES requirements
• Installing renewable energy sources, such as Photovoltaic panels
• Promoting sustainable travel options, including the installation of electric vehicle charge points
• Sourcing electricity used in common areas from sustainable (REGO backed) sources
Leadership
Ribston believe that ESG is not the responsibility of one team or individual, and instead is a strategic priority which should form part of all employees roles. Each member of the Ribston team is responsible for the ongoing success of the business and therefore has a role to play in the achievement of this strategic priority.
To ensure Ribston achieve and continue to build upon our ESG Strategy and action plan, we have formed an ESG committee, which is led at Director level and involves all levels of employees within the business. All employees have objectives linked to ESG and as our Strategy is developed, these objectives will be updated and refined.
Disclosure
Ribston submits to GRESB annually and commits to improving our score year-on-year. As a result of our involvement with GRESB, Ribston obtains vast energy consumption data from our circa 300 occupiers. This presents a great opportunity of influence when encouraging occupiers to reduce energy consumption and make the change to renewable energy sources.
Engagement
• Ribston engages with occupiers to encourage efficient energy use and promote renewable projects, such as installing solar panels.
• All external suppliers and consultants provide Ribston with their own ESG strategies and commitments to ensure both are aligned in making a positive change.
• We invest in our people and employees are provided with ESG training and are encouraged to provide feedback.
25 Hockeys Lane, Bristol
Supporting the local community is an important part of our commitment to the S in ESG, we want our business activities to reach beyond real estate. In 2018 we acquired Hockeys Lane in Bristol. During completion of this sale the team noticed the close proximity of a primary school, and the local walking route for children alongside the property.
The route was grey and unwelcoming, and we believed it could be upgraded to a more educational and interactive walking route. We engaged with local graffiti artist Andy Council to paint the elevation facing the pathway with sea animals. These investments have created a colourful route for children and others as they make their way along the Bristol & Bath cycle path.
Ribston recognises the importance of supporting the communities in which our properties are located. To support community cohesion and improved outcomes, employees participate in volunteering within local communities as well as taking part in charity events. In recent years, we have been proud to support Prostate Cancer UK, the UNICEF Ukraine appeal, a local homeless charity in Glasgow, and a scholarship programme at Northumbria University.
Social responsibility
Local community engagement
Ribston have been supporting local community sports teams such as the Ripley Rockets Football Club, Collingham & District Cricket Club and Alnwick Rugby Football Club. Furthermore, the team have sponsored a local community garden and planted wildflower meadows at properties within the RPUT portfolio. The team plays a key role in the ongoing development of community cohesion within the local area and we recognise with the ever-decreasing social budgets for local authorities, the need for businesses to step up and support the ongoing positive outputs that such teams and other groups promote.
Staff wellbeing
Employees are provided with the necessary support to promote positive health and wellbeing. We provide private medical insurance, a cycle to work scheme and the opportunity for flexible and hybrid working, promoting a healthy work-life balance. Staff surveys are undertaken to provide employees the opportunity to share feedback on their working environment and offer ideas for improvement.
Continued development
We understand the importance of continued professional development and employees are provided with the tools required to advance their skills and knowledge. We provide a comprehensive support package for employees undertaking the Assessment of Professional Competence (APC) to become Chartered Surveyors (MRICS).
Following the outputs of the work being undertaken to develop our ESG Strategy, we will be updating the training and development opportunities accessible to employees to ensure skills improvements required in this area are identified and actioned.
Northumbria University scholarship programme
Ribston have partnered with Northumbria University to support their Higher Education Without Barriers campaign and provide ten scholarships. The scholarships will enable undergraduate and postgraduate students from under-represented backgrounds to access and succeed at Northumbria University.
Governance
We understand that governance is at the heart of any ESG strategy, at Ribston we ensure ESG targets are achievable by guaranteeing that:
• ESG strategy is director lead and feeds through the organisation
• Sustainability is integrated into all business actions
• There is a clear understanding of Ribston’s environmental, social and compliance obligations
• Clear objectives are set to achieve ESG targets
• Staff are provided with sufficient resources to achieve objectives
• There is clear disclosure and transparency to external stakeholders
For a copy of Ribston’s Sustainability Policy, please email info@ribston.com.