Glenveagh corporate | Our Performance and Disclosures
Performance and Disclosures

Performance and Disclosures

We have chosen to disclose sustainability topics and accounting methods in line with the Home Builders Sustainability Accounting Standard issued by the Sustainability Accounting Standards Board (SASB).

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We measure our performance and disclose results across each of our six sustainability pillars.

Conor Murtagh

Chief Strategy Officer

Putting customers at the heart of what we do.

Performance

Key Statistics

Targets

Progress

Evaluation / Narrative

Access & Affordability

Maintain Group ASP Below Greater Dublin Area (“GDA”) and Cork New Homes Market ASP

Achieved

In 2020, 72% of our homes were priced below the new home market median. In 2020, Glenveagh’s median home price was €340k, which compares favourably to the median new home price of €385k in Greater Dublin Area (GDA) and Cork. We work to ensure our developments match repayment capabilities in the communities where we operate. Price transparency is important to us which is why typical monthly mortgage repayments are routinely promoted on site.

Build Quality

Achieve ISO 9001:2015 Certification by 2022

On Track

We consider having a cohesive and robust Quality Management System (QMS) essential to our success. Our QMS is built on best practice and we are aligning this with the standards of ISO 9001 which we will seek to fully implement by the end of 2022.

Implement Integrated Site QMS on all Projects by 2022

On Track

Our Quality Management System (QMS) assists us in maintaining our currently high levels of quality and drives consistency across sites. We now have dedicated training and role-specific responsibilities under the QMS we are able to work towards improving our product efficiencies and empowering staff so that we can improve the quality of workmanship and reduce rework. Moreover, in 2020, integrated our consultants into our quality Management System and conducted an external audit of our QMS.

Conduct over 2,000 Internal Quality Inspections by the end of 2021

On Track

We developed and implemented a Site Quality Responsibility Matrix and Inspection Plan. In 2020, we conducted over 500 Internal Site Quality Inspections.

Customer Service & Satisfaction

Achieve customer satisfaction rating in excess of 86% by 2022

On Track

In 2020 we: • Improved our overall customer satisfaction rating to 83%. • Made the customer experience more accessible by enhancing our digital offering and facilitating customers to complete their entire home buying journey remotely or in a contactless manner. • Redeveloped our digital strategy to facilitate an online and private viewing led customer journey. In 2021 we will: • Develop an After Sales Department to provide a central platform for our buyers to register any queries they have after the sale of their property has closed. • Develop our website to enable buyers to be self-sufficient by accessing a portal with links to information on maintaining heating/ventilation systems within their homes, energy saving tips and local community initiatives that Glenveagh are involved in.

Creating sustainable homes and communities

Performance

Key Statistics

Targets

Progress

Evaluation / Narrative

Sustainable Communities

Ensure all our developments are designed based on consumer needs and latent needs

Achieved

We plan our developments with access to transportation, amenities, and green spaces in mind. We’ve even partnered with national broadband providers to futureproof developments for our customers. On every scheme we design sustainable infrastructure such as EV charging points, cycle lanes, connection to public cycle lanes, and walking permeability.

Incorporate quality landscaping in public open spaces and quality private open space on all our scheme designs

On Track

In 2020 we established a new dedicated directly employed landscaping team. In 2021 we are planning to introduce new Landscaping design for all new developments (Biodiversity Areas, Softer, more shrubs & trees, Less Hedges).

Energy-efficient homes

Research options for reducing lifetime carbon emissions of homes

On Track

This year we have started several trial projects utilising various methodologies such as All them in 12 units in Barnhall, Leixlip - (Insulated Concrete Formwork), LGS (Light Gauge Steel) house in Kilcock and finally a block of maisonettes in Kilcock that we completed in precast concrete clad light gauge steel.

Continue reducing Carbon Emissions over time measured by BER Ratings

On Track

In 2020 we: • Stopped using gas boilers in new developments. • Improved average energy performance of our dwellings by 12%

Land use & biodiversity

Bring our new innovative own-door high density housing solution to planning lodgement

Achieved

In Q1 2021, we have lodged first of its kind scheme at Hollystown site, which facilitates own door housing in lieu of apartments. Working in conjunction with our consultants, we have designed a scheme that removes car parking spaces, meter boxes, bins store etc. from the front curtilage of the house. As a result, we will be able to maximise the own-door housing quantum, whilst achieving the desirable density gains.

Introduce landscaping techniques that promote biodiversity and support natural habitat

On Track

We are currently developing a group-wide biodiversity strategy that would ensure a reliable measurement of progress across our sites.

Retain existing hedgerows where possible in our developments

On Track

In 2021 we will update design team engagement forms to reflect landscaping requirements and include the relevance of protecting existing hedgerows.

Community engagement

Create a best practice hub to enrich our community engagement activities

On Track

In H1 2021 we have launched our Communities engagement initiative and rolled out a new customer website.

Environmentally considerate and efficient operations

Performance

Key Statistics

Targets

Progress

Evaluation / Narrative

Environmental training, awareness, and culture Management

Achieve ISO 14001 by end of Q2 2021

Achieved

In Q2 2021 Glenveagh have achieved ISO 14001 Environmental Management from the National Standards Authority of Ireland (NSAI). The ISO 14001 certification will help ensure that our business is focused on reducing our environmental impact, supported by effective management processes.

100% of employees to receive training environmental awareness training in 2021

On Track

100% of site managers to complete energy efficiency training in 2022

On Track

Emissions from our operations

Reduce the carbon intensity of our construction operations and offices by 25% by 2025. *2020 baseline

On Track

In 2020 we: • Began monitoring fuel consumption on company fleet vehicles. • Introduced electric vehicles to our fleet. • Moved to utility supplier that guarantees 100% green electricity supply.

Sustainable and responsible sourcing

Performance

Key Statistics

Targets

Progress

Evaluation / Narrative

Energy efficient and low carbon supply chain

Hold Toolbox talks on every active site before Q3 2021 discussing sustainability issues and its importance to Glenveagh

On Track

We are currently engaging with external consultants to develop an impactful material that would inform our subcontractors regarding Glenveagh’s sustainability agenda.

Carry out a feasibility study for using Irish FSC certified timber by end of Q4 2021

On Track

Commence an engagement programme with our suppliers on sustainability issues

On Track

In the first half of 2021, we laid necessary foundations for ensuring constructive conversations with our suppliers on climate-related issues going forward. For instance, we have reviewed our supplier principles and produced Sustainable Procurement Policy and the Vendor Code of Conduct. The Policy and Vendor Code of Conduct outline our intentions to minimise GHG emissions in our operations, products and value chains working to mitigate and adapt to the physical & transitional impacts of climate change. It also outlines that we seek to source materials efficiently and sustainably, and we ask our suppliers to do likewise.

Ethical sourcing & human rights

All active suppliers to be signed up to Glenveagh's Supplier Code of Conduct

On Track

The Policy and the Vendor Code of Conduct have been published on our website, distributed to existing suppliers, whilst adherence to these documents is now acknowledged in Glenveagh’s tenders & contracts. The approach to engaging with labour and material suppliers has been slightly different. Top 50 material suppliers were sent a copy of the Policy and the Vendor Code of Conduct, which translates to the majority of procurement spent. For labour suppliers, pre-qualification documents were updated in early March of 2021. Any new subcontractor wanting to join our preferred subcontractor list has been asked to comply with the Policy and the Vendor Code of Conduct.

Engage with our labour suppliers to ensure they have a robust process for managing and reducing modern slavery

On Track

We are currently developing a supplier survey that would allow us to assess the extent of modern slavery risk in our supply chain.

Attracting, inspiring and investing in people

Performance

Key Statistics

Targets

Progress

Evaluation / Narrative

Employee Engagement & Wellbeing

Aim to achieve 82% or above in the employee satisfaction survey in 2021

On Track

In 2020 we achieved 70% in the employee satisfaction survey. We hired a new Head of Corporate Affairs to focus on Employee Engagement and we are implementing an Employee Communication Tool before year-end.

Aim to reduce employee turnover rate to 10%

On Track

In 2020 we reduced employee turnover to 11% from 15% in 2019. In 2021 we are focusing on: on impactful engagement, developing employee Recognition & Reward Programmes, enhancing flexible working policies, creating coherent career paths, as well as advancing Performance Development Programmes.

Training & Development

Invest in at least 13 hours of training per salaried employee in FY21

On Track

In 2020 we invested in 11 hours of training per salaried employee. We have also incorporated additional Training & Development programmes at all levels i.e. Graduate, Management, Supervisor and Technical.

Continue graduate intake and completion of supporting programme

On Track

In 2020, we launched a Graduate Programme with 12 graduates and launched an internal mentorship programme. We have an intake of a further 13 graduates this year to join the 2021/2022 Graduate Programme.

Align career mapping with departmental strategy and development plans for all

On Track

Diversity & Inclusion

Maintain female employees percentage above industry average

Achieved

In 2020 we: • Published Diversity & Inclusion Policy and signed the CIF Diversity Charter as a public commitment to D&I. • Introduced more flexibility in our Parental Leave policy.

Recruit at least 30% females amongst new college recruits in a given year

On Track

Continue to drive and ensure equal pay for equal work

Achieved

Ensure we reduce the gender pay gap on an on-going basis

On Track

Keeping people safe

Performance

Key Statistics

Targets

Progress

Evaluation / Narrative

Culture, Policies, and processes

Proportion of independent audits to be 20%

Achieved

In 2020, 20% of audits were carried out by an independent party (27 / 135) with each site being independently audited at least once.

Achieve ISO45001 Certification by the end of Q2 2020

Achieved

In Q2 2021 Glenveagh have achieved ISO 45001 Occupational Health and Safety from the National Standards Authority of Ireland (NSAI). ISO 45001 demonstrates that we are serious about improving employee safety, reducing workplace risks and creating better, safer working conditions.

Maintain Grade A in Safe T Cert

Achieved

Glenveagh are thrilled to have been awarded the NISO Construction Housebuilding Award for 2020. We have also maintained our Safe T Cert - Grade A in 2020. This is a great result for the everybody in the company and reflects all the work we put into maintaining and improving our safety standards.

Increase training hours and participation per employee

On Track

In 2020 we: • Ensured 14 staff completed IOSH MSIC • Implemented Covid-19 management system raining for all Glenveagh staff. • Delivered remote working training • Delivered safe pass, manual handling and working at heights training for Glenveagh site staff and Contractors.

General H&S Performance

Maintain low group health and safety Annual Injury Incidence Rate

On Track

In 2020 we: • Delivered a TIRR of 2.43. • Introduced Gloves and Glasses to our mandatory PPE. This achieved a reduction of 18% in relation to hand injuries across the Group from the previous year.

Sustainability

We aim to deliver high-quality homes and flourishing communities with the highest standards of environmental stewardship and responsible business.

Sustainability

Our approach to sustainability is holistic and integrated.

Sustainability in action

Our ambition is to set a new benchmark in our sector by delivering the maximum possible social benefit at the lowest possible environmental cost.

Investor contacts

Michael Rice

Chief Financial Officer

michael.rice@glenveagh.ie

Chloe McCarthy

Group Company Secretary

chloe.mccarthy@glenveagh.ie

Media contacts

David Clerkin

+353 1 665 0454

david@gordonmrm.ie

Ray Gordon

+353 1 665 0450

ray@gordonmrm.ie

Media enquiries

glenveagh@gordonmrm.ie