Orbit has launched its Sustainable Finance Framework, setting out a clear link between its financial and funding strategy and its sustainable priorities for the future.
Aligned with the International Capital Market Association’s Social Bond Principles, Green Bond Principles, and Green Loan Principles, the Framework demonstrates how Orbit’s borrowing will be used to make positive social and environmental sustainability impact in the short, medium and long term.
Under the framework, funds are allocated to specific projects and objectives, ranging from decarbonization and energy improvements to existing homes, the provision of new affordable homes and placemaking, to tackling poverty, increasing biodiversity and improvements to public realm.
Interim Chief Executive, Jonathan Wallbank, comments: “Sustainability is core to our purpose, vision and Orbit 2025 strategy. This framework will help us clearly demonstrate this and enable us to clearly illustrate how we’re delivering value for money for our customers and communities and society as a whole.”
An early adopter of the Sustainability Reporting Standard for Social Housing (SRS), Orbit published its first Environmental, Social and Governance (ESG) Report in 2021, with follow up ESG report in 2022. The introduction of its Sustainable Finance Framework follows the launch of Orbit’s Biodiversity Approach and ‘Orbit to Zero’, Orbit’s net zero carbon roadmap, both launched within the last twelve months.