Our ESG Framework
Our operating environment is subject to shifts in international and domestic student demographics, market dynamics, regional policy, legislation and regulations and stakeholder expectations.
We monitor these shifts on a regular basis and use this information to determine the topics that are materially important to our ability to create value into the long term. These material topics inform the six areas that are the focus of our investment and efforts to manage the risks and embrace the opportunities that arise from our environmental, social and governance considerations. We have mapped our priority actions to the Sustainable Development Goals and targets of the United Nations
Highlights
Sustainable Development
Students who live on campus are more likely to get better grades, stay in school and graduate. Our university partners and others we are not yet working with, in all three regions require additional on-campus purpose-built student accommodation to address the growing numbers of student enrolments and local housing pressures. This emerging organic and inorganic development pipeline represents an exciting time for CLV. As such, we have committed to designing, constructing and operating sustainable on-campus villages.
Our future student village developments will be:
We are committed to achieving WELL Gold Standard buildings and the following building certifications in each region:
- Australia: 5-star Green Star Buildings
- UK: BREEAM Excellent
- US: LEED Silver
Many of our Villages have been recognised for being examples of sustainable real estate, and how the built environment can lead the way in connecting place, people, and planet:
- Durham Mount Oswald (John Snow College and South College) – Durham University – United Kingdom: BREEAM Excellent New Construction 2020
- Powell and Whitehorn Halls – St Andrews University – United Kingdom: BREEAM Excellent New Construction 2018
- Fife Park Apartments – St Andrews University – United Kingdom: BREEAM Excellent New Construction 2017
- Goldsmiths Student Village – University of London, Goldsmiths – United Kingdom: BREEAM Excellent New Construction 2017
- Student Village Melbourne – University of Melbourne – Australia: 5-Star Green Star Design & As Built 2016
- Prince Consort Village – Royal College of Music – United Kingdom: BREEAM Excellent New Construction 2016
- Peel Park Quarter – Salford University – United Kingdom: BREEAM Excellent New Construction 2015
- UNSW Village - University of New South Wales - Australia: Randwick City Council Urban Design Awards, Sustainability category, 2010; Urban Development Institute of Australia, Sustainable Development Award, 2010
Renewable energy at CLV
CLV has a group wide target to reach net zero scope 1 and 2 greenhouse gas emissions by 2030. Emissions from the electricity we use in our buildings (scope 2) is our biggest source of scope 1 and 2 greenhouse gas emissions - in FY24 representing 61% of total emissions.
Since we installed our first rooftop solar array in 2008 at our Bournemouth University accommodation, we have rolled out a further ten rooftop solar arrays across the UK and Australia. As at 30 June 2024 our total installed onsite solar capacity is 959kW and the energy this capacity generated represented 1% of our total annual electricity demand. We are continuing to scope and complete business cases on solar opportunities in all three regions.
To further reduce scope 2 emissions, we have signed contracts to purchase electricity that is backed by Renewable Energy Guarantee of Origin certificates in the UK and Renewable Energy Certificates in the US. All our UK villages and five of our US villages are powered by 100% renewable electricity. We have commenced working on an agreement for our Australian villages to achieve our target of reaching 100% renewable electricity across the Group by the end of 2027.
CLV Cares
Supporting the wellbeing of our residents and employees lies at the heart of our business. Wellbeing is associated with good mental and physical health, high self-esteem, self-efficacy, a sense of belonging and having effective coping strategies. Our evidence based CLV Cares program governs our approach to supporting our residents and employees build and maintain their wellbeing.
Documents
Annual Sustainability Reporting
Our group level annual sustainability report summarises the actions we have taken over the previous twelve month period, the achievements we have made and where we plan to focus in the coming twelve months. Since FY23 it has been prepared with reference to the Global Reporting Initiative (GRI) Standards.
Our Greenhouse Gas Emissions Baseline Recalculation Protocol governs our approach to maintaining consistency in public reporting of emissions and externally committed greenhouse gas reduction targets.
Human Rights
CLV is committed to being ethical, fair and transparent; respecting and promoting human rights for everyone – from our own employees to our student residents and to those employed by our suppliers.
We operate under a Trust structure with a separate trust for each region we operate in – Australia, the UK and the US. We do not consolidate these Trusts and we do not have consolidated revenues that meet or exceed the threshold set by the Australian Modern Slavery Act 2018. Our UK business is considered a reporting entity for the purposes of the UK Modern Slavery Act 2015 and our UK annual report on our commitment and actions to address the causes of Modern Slavery can be accessed here.
Whilst we are not required by law to report on our approach to Modern Slavery in all the regions in which we operate, in accordance with our values we monitor the risks of modern slavery in our operations and supply chain and report on this to our Board Committee of Audit, Tax, Sustainability, Risk and Compliance.
Diversity, Equity and Inclusion
We seek to attract, retain and invest in talented people, irrespective of gender, age or background. Our Group Diversity and Inclusion Policy sets our commitment to making our organisation a great place to work by creating a truly diverse, inclusive and engaged workforce that drives business performance and actively demonstrates our values.
Reducing our gender pay gap is a focus for us. We’ve taken steps to balance gender across our senior management team and other line management roles.
Reconciliation
In FY24, our Reflect level Reconciliation Action Plan (RAP) was endorsed by Reconciliation Australia. Reconciliation Australia defines reconciliation through five critical dimensions that together represent a holistic and comprehensive picture of reconciliation:
- Race relations
- Equality and equity
- Institutional integrity
- Unity
- Historical acceptance
These five dimensions of reconciliation set out a clear roadmap towards a just, equitable and reconciled Australia.