41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 91
STRATEGIC REPORT
GOVERNANCE
Our governance and risk framework ensures we do all this
responsibly and sustainably, delivering a positive impact
through People and Places.
The safety of our customers and employees is one of
our key risks and a key governance area for the Board.
In 2022, the Board oversaw the introduction of our new
operating model, with our people on site 24/7/365, and
the introduction of our new Support to Stay framework,
providing a supportive living environment for students.
This is especially important with increasing mental health
issues for students following the pandemic. The Board has
also overseen our fire safety and cladding remediation
programme, ensuring appropriate investment across the
portfolio. The Health and Safety Committee Report on page
128 details further our safety governance.
The Board’s focus on our values and specifically “doing
what’s right” and “raising the bar together” continues as
we implement our sustainability strategy. Through the
detailed work of the Sustainability Committee, we oversee
our progress towards becoming a net zero carbon business
by 2030, having invested £14 million in 2022 in energy
initiatives to reduce consumption, save carbon and ensure
ongoing compliance with regulations as well as further
improvement in the EPC ratings of our portfolio. For more
detail, see the Sustainability Report on page 46 and the
Sustainability Committee Report on page 125.
FINANCIAL STATEMENTS
OTHER INFORMATION
With this increasing demand, the Board continues
to explore opportunities to grow the business in UK
PBSA through development, targeted acquisitions and
partnerships with universities. Alongside this, the Board
continues to explore exciting opportunities for growth
in the wider living sector catering to young professional
renters living in major UK cities. Our pilot BTR acquisition in
Stratford, East London in September 2022 provides us the
opportunity to test our operational capability in this sector
and understand potential synergies with our core PBSA
business. This will help the Board inform our next steps as
we explore growth in PBSA and the wider living sector.
The following pages explain how our governance has
supported us through 2022 and how it will continue to
support our growth and sustainability in the longer-term.
Richard Huntingford
Chair
28 February 2023
FURTHER INFORMATION
Through 2022, the Nomination Committee continued to
review our Board composition and succession planning,
ensuring we have the right mix of skills and expertise
across the higher education, real estate, finance, retail and
hospitality sectors. With Elizabeth McMeikan coming up for
nine years on the Board in 2023, the Committee conducted
a search for a new Non-Executive Director, leading to the
appointment of Nicky Dulieu in September 2022. Nicky
brings a wealth of listed company Board experience as well
as extensive consumer-facing executive experience, adding
significant value to the Board. I would like to thank Elizabeth
for her passion for the business and sound judgement
during her nine years with Unite, especially as Chair of our
Remuneration Committee and Senior Independent Director.
Nicky will take over as Remuneration Committee Chair and
Senior Independent Director on 1 March 2023 following
Elizabeth’s departure.
The Board continues to see increasing demand for student
accommodation in the UK, with supply constrained due to
slowing PBSA development and a shrinking HMO sector.
Affordability, especially with increasing cost-of-living
pressures, continues to be key for students, parents and
universities and the Board oversees how we deliver safe
and secure, high-quality, value-for-money homes for our
customers, many of whom are living away from home for
the first time.
Health and Safety Committee Report on page 128
Sustainability Report on page 46
Sustainability Committee Report on page 125
Board engagement on page 102
Stakeholder engagement on page 104
89
