Our approach

As a major community developer we have social, ethical, environmental and economic responsibilities that we take extremely seriously.

This report sets out to explain our approach to corporate responsibility, which is our Company’s response to the challenge of sustainable development. We believe that addressing corporate responsibility makes sound business sense for our Company, as well as being crucial for risk and opportunity management, and is an essential part of good governance.

This is our fourth annual Corporate Responsibility (CR) report as Taylor Wimpey plc. This report demonstrates our work and achievements during the period from 1 January to 31 December 2010.

During 2010, governance remained a top priority for our Company. The Board considers that it has continued to comply with the provisions of the Combined Code on Corporate Governance during 2010. Also, we had full Board discussions on the new UK Corporate Governance Code and developed an action plan to ensure full compliance when the Code takes effect for our Company in 2011.

Approach to the changing planning environment

We anticipate that the UK Government’s planned Localism Bill will be extremely significant for housebuilders. The Bill is intended to give greater powers and influence to local government, communities and individuals in relation to planning decisions.

It will therefore become increasingly important for housebuilders to demonstrate that they can build sustainable homes and communities. It will also be essential that we listen to the opinions and concerns of our local stakeholders and we work in partnership with them to jointly shape development plans.

We have a comprehensive strategy in place to respond to the requirements of the Localism Bill and we will report further on this in 2011. As an important first step, we have introduced a training programme to further improve the communication and consultation skills of our employees.

Corporate responsibility and sustainability management

During 2010, we have embedded our approach to corporate responsibility more fully into the day to day management of the business. As such, although ultimate responsibility continues to rest with the Group Chief Executive, Pete Redfern, the Corporate Responsibility Committee of the Board has been disbanded. However, the Board will continue to review our corporate responsibility strategy and reporting on an annual basis.

Our Sustainability Steering Group, comprising seven senior personnel from relevant disciplines across our UK business, co-ordinates our sustainability activities at the operational level and we continue to benefit from our excellent and fully integrated health, safety and environmental management system.

Risk and opportunity management

We believe that our approach to corporate responsibility and sustainability helps us to reduce business risk and to identify opportunities for our Company. Developed in 2009, our Sustainability and Climate Change Risk and Opportunity Register identifies a wide range of non-financial issues that could affect our Company.

Taylor Wimpey plc’s Audit Committee also participates in identifying financial and non-financial risks. These risks are included in the Board’s annual assessment of the risks affecting the Group as well as in the ensuing plans for effective management of these including internal controls. Our established systems and procedures – such as our comprehensive Health, Safety and Environmental Management System – also contribute to effective risk management.

During 2010, we implemented and embedded our revised UK Operating Framework, which was developed in consultation with each of our UK Regional management teams. This framework is supported by a series of detailed policies and manuals.

It provides detailed clarification of our systems and procedures in all areas and supports operational efficiency, consistency and control. We have a continuous improvement process in place for the framework including a formal feedback process. The framework will continue to be updated regularly. Details of the Company’s principal risks and uncertainties are published in the Annual Report and Accounts 2010.

Stakeholder engagement

We aim to be a responsible homebuilder and to listen to the opinions and ideas of our stakeholders. We have identified our stakeholders as:

  • Investors
  • Customers
  • Employees
  • Residents and other groups in the communities in which we operate
  • Suppliers, sub-contractors and other business partners
  • Local, regional and national government
  • Landowners and land agents
  • Planners and regulators
  • Housing associations
  • Trade associations and industry bodies
  • Charities, NGOs and other groups interested in sustainable homes and communities

We regularly and proactively engage with our stakeholder groups and maintain an extremely thorough investor relations programme. Members of our senior management team represent the Company on a wide range of Government, industry and other committees and steering groups. Please see our Web site for examples of engagement during 2010.

We are also a member of NextGeneration, an organisation that benchmarks the sustainability performance of UK housebuilders. In 2010 Taylor Wimpey was ranked sixth out of the top 25 homebuilders in terms of creating sustainable communities. We were also ranked sixth in the organisation’s 2009 benchmark of the overall sustainability performance of UK housebuilders.

We regret to report that Taylor Wimpey was removed from the FTSE4Good Index during 2010. Although we have started to measure our CO 2 and greenhouse gas (GHG) emissions during the year, we were not able to provide sufficient data to meet FTSE4Good’s requirements within the specified timescales. We will be applying for re-inclusion in the index once this data is available.

Photograph of Pete Redfurn, Group Chief Executive

View foreword from our Group Chief Executive

Foreword

Pete Redfern, Group Chief Executive

I am delighted to introduce our fourth Corporate Responsibility Report as Taylor Wimpey plc. We continue to maintain our commitment to corporate responsibility and sustainability issues. We believe that corporate responsibility is an important aspect of long term business success and is crucial for risk and opportunity management.

A key consideration in our overall UK strategy going forward will be the coalition Government’s Localism Bill. We welcome the Government’s intention to reform the planning system and we also believe that the underlying principle of ensuring that planning decisions involve the local people, who will benefit from them, is the right one. In response to this, we are currently developing a series of initiatives to support the delivery of our community focused approach. These will be rolled out through 2011 and will be perfected through a process of learning and continuous improvement. We aim to be a responsible community developer and are particularly proud of awards received in 2010 for community engagement and training programmes at our Raploch development in Stirling, Scotland.

Also in 2010, we introduced a comprehensive UK Waste and Resources Strategy and Action Plan. We expect this strategy to help us achieve significant cost savings and environmental benefits from improved resource use.

During 2010, we continued to maintain our extremely high standards of health, safety and environmental management and published energy and climate change data for the first time. We are committed to reporting annually on our progress in all aspects of corporate responsibility and I welcome feedback on our corporate responsibility practices.

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Pete Redfern
Group Chief Executive


Our homes and communities

We are committed to building sustainable homes and communities and strive to achieve high levels of build quality and customer care


The way we work

The way we manage our business in the areas of human resources, health, safety and environment and supply chain management