Bromford establishes its inaugural Sustainable Finance Framework

June 21, 2021 Published by

Newbridge has supported Bromford Housing Group (Bromford) in launching its inaugural Sustainable Finance Framework, helping to measure the impact of up to a billion pounds in ESG-linked funding over the next decade.

The framework opens the door for Bromford to formally categorise capital markets debt as green, social or sustainable and complements its commitment to tackling some of the biggest environmental social and governance challenges of our time.

The framework also represents a furthering of Bromford’s already strong levels of ESG transparency and accountability. To confirm full alignment with a set of industry standards, it received a second party opinion from S&P global ratings, their first in the social housing sector.

Imran Mubeen, Director of Treasury at Bromford: “We are delighted to have published our Sustainable Finance Framework, a very important milestone in our ESG journey. From inception to accreditation, Newbridge provided dedicated support, advice and expertise, to a standard which we have come to expect. We have developed a long-standing relationship with Newbridge and look forward to working together again in the future.”

Chris Evans, Director at Newbridge Advisors commented: “Establishing a framework is an important signal to the capital markets community that future finance, whilst not exclusive, is likely to be linked to ESG. A framework is expected to be a fluid document, it will flex to align with the future strategy of the organisation, new industry standards and potential regulation as and when it emerges.

Bromford has managed to strike a great balance with its framework. Not only does it meet the disclosure requirements expected by the market, it communicates a story original to the organisation, reflective of why they are so well regarded with investors.”