The Chief Executive’s commitment
The average life expectancy in the UK has been on an upward trajectory for a number of years. With the readjustment following the COVID19 pandemic, it is likely to start rising again very soon, and interestingly, in London, that expectancy is well above the average of the rest of the UK.
So, we’re all living longer, that’s not in dispute, however, what we should all be thinking about is how we can enjoy those longer later years.
At Wallacea Living, we understand that with the benefit of living longer, we have the opportunity to help people live, fitter, healthier and happier lives by putting their health and wellbeing front and centre of all we do. Having the ability to help people improve their mobility, create mental stimulation, provide opportunities for spiritual growth and reduce loneliness, is a privilege and we’re aware, is one of great trust. In addition, with the ageing demographic in this country, we also have the broader opportunity to challenge ageism of any description. In fact, it’s our duty as a provider of services and lifestyle to the older population to join with like-minded organisations to erase ageism in any form for good.
By highlighting how we can improve individuals’ happiness in their later years, it’s easy to get swept up in the commitments and impact our social responsibilities can deliver, however you will also see when it comes to our wider responsibilities, we have many commitments to the governance of these and the environment.
We’ve all seen the ever-changing weather events across the globe and the seemingly now annual hose pipe bans that are introduced across most regions. With these sorts of events becoming more commonplace, managing organisations such as Wallacea Living comes with great responsibility. It is our duty to understand how we can assist with the global situation and leave a legacy for future generations.
It is for that reason you will see, through the pages of our very first Environmental, Social and Governance Promise, an outline of our commitments.
It is very clear that being a young business, there are a number of promises, but there is also evidence of actions we have already been able to take, and as time moves on, we’ll be able to report on evidence rather than future commitments.
Some of what you will read may sound very grandiose; however, it can be simplified somewhat:
- Environmental commitments – We will reduce our carbon footprint by developing and operating efficient buildings that are able to demonstrate a reduced impact on the climate of the planet through responsible resourcing and ongoing efficient operational policies. (Using sustainable materials, driving fossil free vehicles, energy efficient boilers, water efficient infrastructure, recycling programmes, to name just a few).
- Social Commitments – To ensure we provide the levels of service and insight to ensure our Owners; team members and customers have access to numerous choices which will enhance their lives and promote happiness and joy. (Regular outdoor activities, provision of garden spaces, appropriate exercise regimes, stimulating presentations or talks, nutritious food, exciting drinks – and most of all, a sense of community to dispel loneliness).
- Governance – Simply put, to document and evidence the above in order that we can continue to improve.
As we look towards the opening of the very first Wallacea Living community in 2026, I can assure you the future of our communities, the planet and a joyful life of our Owners and teams will remain a key corporate goal.
Paul Morgan
June 2025
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Environmental, Social and Governance Promise
Established in 2020 Wallacea Living develops and operates integrated retirement communities. We recognise that fundamental change is required in the provision of communities for older people in order that our population are able to enjoy the time they have in retirement and maintain a truly independent life. Our commitment to the local areas within which we operate, the local population as well as our customers, demonstrates the responsibility we have to building an ESG legacy.
Requirements
This promise applies to all Wallacea Living’s corporate operations, both operational communities and properties undergoing development. This promise will be reviewed in 2026 and will be developed into Wallacea Living’s operational ESG Policy.
Principles
Wallacea Living is committed to being at the forefront of the sector when it comes to sustainable operations in the UK. In every aspect of our operation we will listen, learn and adapt to ensure we not only meet the baseline of this promise, but, that we delight and surprise our stakeholders and customers with innovative and imaginative ways in which we will demonstrate our determination to achieving that target.
In addition to developing and operating sustainable communities, we will ensure our ESG framework addresses and delivers against key internal and external measures such as:
- Delivering exceptional living experiences for our customers and Owners.
- Developing our employees’ and partners’ ESG understanding in order that it becomes part of their role to support us.
- Fostering a culture which embraces ESG as a core value of our business.
- Performing in line with global best practice standards as highlighted from the latest UN COP meeting; COP27.
- Enhancing value and minimising risk for our investors.
The following principles guide our ESG approach at Wallacea Living:
- With the help of our team and Owners, implement sustainable practices through innovation, as well as everyday activity across our communities.
- Act responsibly as a steward for the natural environment by addressing environmental impacts whilst also enhancing operational efficiency.
- Recognise social impact and act on our responsibilities towards the local communities in which our retirement communities are located.
- Maintain a sound governance framework that provides oversight and accountability and fosters responsible decision-making.
By implementing and working true to these principles, we will demonstrate our commitment to positively contribute towards the fight against climate change for all our stakeholders. In addition, our investors will trust our resilience and the limiting of the risk of regulatory non-compliance.
Wallacea Living Commitments
Our environmental, social and governance commitments are as below.
1. Environmental
Wallacea Living follows the Energy Hierarchy principles of ‘Be Lean,’ ‘Be Clean,’ and ‘Be Green’ to reduce energy consumption:
- Be Lean: We’ve implemented passive energy efficiency measures such as improved building insulation, energy-efficient lighting, and mechanical ventilation with heat recovery. Additional upgrades include energy sub-meters, a Building Energy Management System, and improved air permeability. These changes together reduce carbon emissions (CO2) compared to taking none of this action by 1.2 tonnes per year.
- Be Clean: We’ve connected to a centralised energy system, linked to an existing off-site gas-fired Combined Heat and Power (CHP) unit, cutting CO2 emissions by 35%. By using established infrastructure, we’re enhancing efficiency, reducing energy costs, and saving both energy and money. Over the next 60 years, the connection will reduce carbon emissions by 1,047 tonnes, thanks to the use of the existing system. We will also enjoy lower energy costs through access to a high-efficiency energy network, fostering a more sustainable and affordable living environment for all.
- Be Green: To further reduce our carbon footprint, we’ve installed Photovoltaic (PV) panels on our building, generating renewable energy on-site. This initiative contributes to a 6.6 tonnes reduction in CO2 emissions annually, helping to decrease reliance on traditional energy sources and supporting the development's overall sustainability.
While we’ve designed this development to minimise emissions, our development partners, Berkeley Homes, are committed to offsetting any remaining carbon by contributing £387,702 to Westminster’s Carbon Offset Fund, directly supporting wider sustainability efforts across the city.
Green Spaces
In addition to being energy-efficient, this development focuses on enriching our Owners’ lives with beautiful, natural spaces. Owners will enjoy:
- Communal gardens and courtyard with trees, lawns, and plants for relaxation and community activities.
- Almost 100 new trees, including native species like London Plane, Hornbeam, and Crab Apple, supporting local wildlife and contributing to cleaner air.
- Green roofs that enhance local biodiversity by providing homes for plants, moss, insects, and birds, while helping manage stormwater.
Efficient Water Use
Living sustainably means being mindful of every resource, including water. With low-water-use fittings and appliances, we’re helping you reduce impact while keeping homes comfortable:
- Low-water-use sanitary fittings that ensure you use less water without compromising on performance.
- Fixtures such as leak detection systems which help maintain water consumption within the average household limit, promoting sustainable living.
Responsible Waste Management
Sustainable living also includes managing waste responsibly to reduce our environmental impact. We’ve designed an efficient waste management system that makes recycling and disposal simple:
- Sufficient waste disposal and recycling space in each residential unit, ensuring compliance with various Borough or Council’s requirements.
- An Operational Waste Management Plan will be developed upon commissioning each community to align with best practices, helping reduce, reuse, and recycle waste while minimising disposal.
Low-Carbon Mobility
Reducing your carbon footprint doesn’t stop with energy use. Our development makes it easy to choose low-carbon transport options:
- On-site cycling facilities that encourage residents and visitors to cycle, reducing the need for cars.
- Excellent public transport accessibility ensures we are close to buses, trains, and the rest of London’s transit network, reducing reliance on cars.
BREEAM Certification
This development is on track to achieve BREEAM green building certification, reflecting our dedication to sustainability. Every design element prioritises energy efficiency and carbon reduction, while water-saving features, such as low-use fixtures and leak detection systems, help residents manage consumption. Convenient access to public transit and cycling options ensures sustainable mobility, and pollution control measures promote a healthier environment. Additionally, we've enhanced the site's ecology by preserving natural features and creating new wildlife habitats.
Sustainable Materials and Responsible Sourcing
We’re committed to using high-quality materials that are not only durable and aesthetically pleasing but also environmentally responsible. Our approach ensures that our buildings are constructed with sustainability in mind, supporting long-term resilience while minimising environmental impact.
- Primary façade materials: Brick, brick panels, reconstituted stone, concrete, and glazing have been chosen for their durability, aesthetic appeal, and long-lasting quality.
- Insulation: We’ve used insulation materials that do not contain substances that deplete the ozone layer or have a Global Warming Potential (GWP) of 5 or less.
- Timber sourcing: Timber is FSC certified and sourced from ISO 14001 certified manufacturers, where possible, ensuring sustainable forestry practices.
- Recycled content: We aim to meet standard practices for incorporating recycled content in key building materials, helping to reduce waste and support a circular economy.
Flood Risk and Resilience
We understand the importance of ensuring that our development is resilient to environmental factors like flooding. Wallacea Living’s locations and design ensure that it is protected, providing a secure living environment.
- Flood risk: The first site is located in Flood Zone 1, with less than a 0.1% annual chance of flooding from rivers or the sea, ensuring minimal flood risk.
We’re creating more than just homes, we’re shaping a future where people can live sustainably, thrive in green spaces, and enjoy healthier, happier lives. Our developments combine high energy efficiency, water conservation, and responsible materials to create a place where people can truly thrive. We’re leaving behind a positive legacy for future generations.
2. Social
Our customers and Owners are more than aware that the world in which we live is suffering as a result of generations of neglect. They will be supporters and advocates for change in order to redress the balance. Our teams will be employed on the basis they understand the need to embrace our policy to effect change. We will champion various social impact initiatives such as, but not limited to:
- Culture and Community: The success of our business will rest in the ability for the community to engage with each other, enjoy shared activities, take up and learn new ones and care for each other. By enabling and empowering our Owners to create such interaction we will foster a community of purposeful Owners, a key by-product of which will be to reduce loneliness across the environment.
- Stakeholder Engagement: We commit to meaningfully engage with our stakeholders on key ESG issues. This can be from basic recycling all the way through to helping them set up and manage small businesses aimed at achieving any one of our ESG targets. There is a recognition that some will require training and help in this regard, something we will willingly assist with.
- Wellbeing: Our wellbeing offer will be market leading. Our Owners and team members will be afforded the best possible access to preventative healthcare in addition to enabling them to have access to mental, physical and spiritual stimulation to maintain and, where possible, enhance their quality of life. Should they need further care assistance, we can provide that as well. Our aim is to enable our Owners to help themselves to live happier lives.
- Transport and Mobility: We will create a corporate transport policy as well as encouraging our Owners to consider greener modes of transport. Our facilities will have limited car parking spaces and will offer the most recent environmentally friendly modes of transport in the form of car clubs, shared transport or two wheeled power.
- Diversity and Equal Opportunities: Wallacea Living encourages a respectful, inclusive culture where different perspectives are heard and supported. We will publish our DE&I policy during 2025.
- Reduce Pressure on Hospitals and the Social Care System:Having a domiciliary care branch on site will reduce hospital admissions, reduce the length of stay, and speed up discharges, thus freeing up beds for those who require them.
3. Governance
We are committed to operating our business ethically, responsibly, and with integrity. We expect our employees and stakeholders to adhere to the highest ethical standards, complying with all applicable laws and regulations.
- Policies and Processes: We will develop and maintain a comprehensive set of ESG policies and processes to identify and manage our ESG risks throughout the entire life cycle of our retirement communities.
- Supply Chain: We will implement processes to minimise ESG-related risks in our supply chain, consistently apply minimum ESG performance standards, and strive for best practices in our procurement with the aim of making all our retirement communities free of, or safe from, hazardous materials and human rights abuses.
- Transparency and Reporting: we are committed to ensuring complete and clear communication with our stakeholders by measuring and transparently disclosing our commitments, objectives, and progress. We will duly consider producing an annual ESG report to conduct our disclosure.
Closing Statement
This ESG Promise serves to function as the foundation upon which we can achieve measurable, positive ESG impacts across our development and operations. Our focus is on embedding responsible investment across every aspect of our activities. We are committed to setting ambitious but practical targets to continually improve our performance and ensure measurement of progress.
June 2025
