Leading UK developer Stanhope PLC has today announced it has successfully achieved B Corporation (B Corp) certification, joining only a handful of other developers and asset managers who meet the rigorous requirements.
Certified B corporations are businesses that meet the highest standard of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. Applicants are required to exceed a benchmark score of 80 out of 200, with Stanhope’s total entry score sitting at 128.4 which is one of the highest scores received for businesses working in the property and development industry.
David Camp CEO at Stanhope said ‘The B Corp certification is a testament to our brilliant team and the loyal partners who have provided us with the strong support and commitment required to achieve this certification.
Since the company started life nearly 30 years ago, we have consciously sought to carry out all our activities fairly, honestly, and ethically. Our objective is to leave behind a positive legacy of sustainable buildings and urban places that are valued by their communities and to drive forward meaningful action on decarbonisation and social value’.
Earlier this year, the developer published its ESG strategy which set out ambitious goals including targeting a 50% reduction in the carbon intensity of their value chain by 2030 against their 2020 baseline. This covers indirect emissions arising from the construction of their developments as well as operational emissions from buildings managed and delivered.
Stanhope is leading the way on major development projects which have ESG at their heart and setting new benchmarks for sustainability. These include the retrofit of the Woolgate building in the City of London which includes an ambitious reuse and retention strategy and will preserve 98% of the existing structure. The reimagined building, which received planning consent in January, will be all-electric, with no fossil fuel on site. Stanhope and the project team are also targeting a 4.5* NABERS rating and BREEAM Excellent.
Nils Rage, Head of ESG at Stanhope said, ‘This milestone is a great achievement for Stanhope, and we are proud of the accolade. The certification recognises our company’s strong environmental and social ethos and rewards the practices we have put in place across our activities. The work we have done quantifying and transparently disclosing our impact, together with our focus on climate action play a role. So do our solid employee proposition and our approach to social value. We have learned a lot in the process and will use the assessment to keep strengthening our approach over the years to come.
Through the work of the Stanhope Foundation, which was set up in 2021, the business has provided continual support for local communities and wider society by helping vulnerable people find hope and pride through meaningful employment. This is a donor advised fund that partners with St Mungo’s, The Construction Youth Trust, The Prince’s Trust, and Maggie’s and over £530,000 was raised for these charities over 2021-22.
In addition to their recent B Corp Certification, Stanhope is a UK Green Building Council founding and Gold Leaf Member, a NABERS UK Design for Performance Pioneer and made a Net Zero commitment with the World Green Building Council.