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Anchor Hanover

Anchor Hanover is England’s largest provider of housing and care for older people. With plans to build 5,700 more new homes over the next 10 years, they recognise that environmental sustainability is crucial to ensuring the increasing needs of older people are met in the long term.

Strategising for a sustainable future

A robust ESG strategy is undoubtedly essential for making progress towards environmental sustainability, which Anchor Hanover have certainly recognised. Taking into consideration everything from energy efficiency of their properties to the CO2 emissions from their supply chain, they have introduced their first Sustainability Report in 2021, which outlines a comprehensive strategy for ESG practices across the organisation. The report aligns to the Sustainability Reporting Standard for Social Housing, of which Anchor Hanover was an early adopter, and demonstrates their commitment to the UN Sustainable Development Goals and a net-zero carbon future.

Taking action

The organisation has wasted no time in implementation – 83% of Anchor Hanover homes which have received an EPC rating are rated at band C or above, on track to meet the government target of 100% by 2030. They are investing in energy efficiency, working towards improving EPC data and the development of new ‘green’ homes, which isn’t just environmentally conscious, but helps the communities they serve to save on cost. Setting challenging targets to deliver energy and water savings and increase biodiversity, Anchor Hanover are making strides towards their goals.

A framework for change

In addition to their wider ESG strategy, Anchor Hanover have developed a new Sustainability Financing Framework, with the aim to align their sustainable funding from investors with business objectives and their ambitions towards UN SDGs.

Putting the framework into practice, Barclays recently led a syndicate of banks in an innovative £300m refinancing for Anchor Hanover, including a first-in-sector unsecured revolving credit facility (RCF), with the interest margin linked to their targets in energy efficiency, affordable housing, and contributions to the wellbeing of residents.

The £300m RCF over three years sees Anchor Hanover becoming the first social housing association to establish a fully unsecured set of banking facilities.
Sarah Jones, Chief Financial Officer of Anchor Hanover said:

We have ambitious plans to meet the increasing needs of older people in a sustainable way. This very successful issue means we can continue to evolve our housing and care offer so more people can have a home where they love living in later life.

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