Crest Nicholson marks decade of transparency in public reporting with launch of Sustainability Report 2011

Crest Nicholson has marked a decade of commitment to transparency in public reporting with the launch of its 10th annual Sustainability Report, “Delivering Growth for Sustainable Homes and Communities”. The report focuses on key issues for the housing sector, providing an overview of Crest Nicholson’s financial and non-financial performance and how its approach to sustainability delivers tangible benefits for shareholders, customers, local communities and employees alike.

Crest Nicholson was the first UK housebuilder to report on its non-financial performance with the publication of its inaugural Sustainability Report in 2002. It was also the first to produce a separate Climate Change Report in 2008 and led the way in terms of measuring and reporting on carbon emissions from construction sites.

Over the past 10 years, Crest Nicholson has made significant strides in terms of its commitment to sustainability and social responsibility. Key achievements for the reporting period include:

• 28.6% gross operating margin on turnover of £319.1m • 1,520 housing completions • 7% reduction in operational carbon footprint • 18 new apprentices employed, bringing the total to 44 • 89% of construction waste diverted from landfill • Eliminated all ‘unknown’ timber from the supply chain in the last 5 years • 99% of timber came from a certified sustainable source (Crest Nicholson is one of only two housebuilders to have a Sustainable Timber Procurement policy and to have its timber supply audited in partnership with the WWF-Forest and Trade Network) • 44% reduction in Annual Injury Incidence Rate • 65% of new homes delivered to EcoHomes, Code 3, or Code 4 standards • 34% of new homes delivered have renewable energy sources • 11 NHBC Quality Award winners, 4 gaining Seals of Excellence • 92% of our purchasers would recommend Crest Nicholson to a friend

Collaboration and partnership are both strong themes throughout the report, which describes how Crest Nicholson has strengthened links with customers, contractors and suppliers. The report also explores how Crest Nicholson’s work with the unique AIMC4 collaborative project, which was created to research and build low carbon homes, is influencing the way in which the group operates.

The AIMC4 consortium was created to research and build low carbon homes which optimise the efficiency of the building fabric. The outcome will be the development of a series of low energy, easy to maintain and cost effective homes for the future. They will deliver a lifelong solution for carbon reduction, ultimately reducing domestic running costs for homeowners. Research and innovation are therefore an integral part of Crest Nicholson’s business strategy, as the company continues to play an active role in the development and delivery of mass-market, carbon efficient homes.

Stephen Stone, Chief Executive of Crest Nicholson, said: “Sustainability sits at the very heart of our business model, and demonstrating the tangible financial benefits of a more socially responsible approach to business is key in terms of our public reporting policy. This year’s Sustainability Report makes some clear statements about our performance and it is essential that, as leaders in our sector, we continue to innovate and improve.”

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