Platform secures £275m in sustainability-linked loans

Platform said in its results that all of the new homes built were Energy Performance Certificate (EPC) Band B or better, and that 75 per cent of all of its homes were rated EPC C or above.

As part of its latest deal, the association will be measured by sustainability-linked key performance indicators (KPIs), which if achieved will secure preferential terms to the cost of the funding.

Some of the KPIs are linked to improvements in the energy efficiency of its existing portfolio and the energy efficiency of its new build properties. In addition, further metrics are linked to improving the representation of Black and minority ethnic colleagues, relative to the demographics of the operational areas of Platform and national averages.

Platform said that hitting the targets will be supported through its ambitions to upgrade all of its homes to EPC C or better by 2030, by improving the fabric of buildings and introducing low-carbon technologies to heat and power homes.

The housing association said it also has an aim to enhance the specification of new build homes, with land-led homes to be developed as gas-free.

It also has the ambition to encourage diversity throughout its operations with specific training aimed at educating all employees on diversity, bias and how they affect day-to-day working practices.

Rosemary Farrar, chief finance officer at Platform, said: “We are in the midst of an acute housing shortage across the country, and we’re committed to play an active role in being part of the solution.

“That means developing and improving homes that are both fit for purpose and fit for the future. These new loans allow us to partner with existing and new relationship banks in putting our customers first and delivering social and environmental benefits.”

George Ryan-Smith, director at ABN AMRO, said: “ABN AMRO is delighted to begin its relationship with Platform Housing. From the very first meeting, it was clear Platform’s strong ESG [environmental, social and governance] ambitions harmonised perfectly with our sustainability agenda.

“It was a pleasure to work with the Platform team. The effective collaboration ensured the financing package was tailored to Platform’s needs, whilst also remaining within our risk appetite. We are pleased to support Platform in its active and pivotal role of developing and improving homes across the country.

“ABN AMRO looks forward to building a long-term relationship with Platform as an exciting new client in our UK social housing portfolio.”

Michael Carr, director at National Australia Bank, said: “National Australia Bank is committed to funding more affordable housing for people in need in the UK.

“We are delighted to support one of our core UK clients to continue its ambitions to build new sustainable and affordable homes that will make a positive difference to people’s lives in the Midlands.”