V7 - Exploring the 'S' in ESG: What it Means to Us

Insights | 31.01.24

Written by Dan Ross

Exploring the 'S' in ESG: What it Means to Us

Do more’, whether it’s supporting food banks, fund raising, volunteering at a soup kitchen or clothes donations. We can’t solve the crisis, but collectively, we can make a real difference to people experiencing the worst time of their lives. So in that spirit, who’s in?!

‘ESG’ has dominated real estate conversation in recent years so much that it’s moved away from investor chat to becoming a household name. But generally, when we say ‘ESG, most people are referring to the Environmental element. I suspect most of us already have too much Governance in our lives, but what about the Social side? It’s a widely held view that the world has lurched from one macro calamity to the next in recent years and the cumulative effect of this has been incredibly severe and V7 feels it’s time to discuss it.

Homelessness is a devastating problem in the UK, with around 310,000 sleeping rough; including 140,000 children[1]. It’s awful, it’s tragic and it’s getting worse as the cost of living crisis continues to bite, leaving people unable to meet rent demands and mortgage payments.

None of this will come as a surprise; the shortfall in housing supply is well publicised and many will see homeless people regularly. Successive governments have failed to give housebuilders the impetus to build at the scale required and whilst this must now be realised we have an immediate problem that whilst we cannot solve, we can at least alleviate.

So, what can we do? At V7 we pride ourselves on making a difference; we volunteer and we do not look away. Practically, we integrate help within our redevelopment sites, whether it’s small gestures like adding coat hooks to our hoarding (and making sure they are full!) or helping local shelters with design and workers. But we can do more.

The V7 resolution for 2024 is just that, ‘do more’, whether it’s supporting food banks, fund raising, volunteering at a soup kitchen or clothes donations. We can’t solve the crisis, but collectively, we can make a real difference to people experiencing the worst time of their lives. So in that spirit, who’s in?!

[1] Shelter, 14th December 2023 https://england.shelter.org.uk/media/press_release/at_least_309000_people_homeless_in_england_today

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