At Obsidian we recognise the effect our industry has on both the environment and society, and are committed to ensuring that our activities minimise any negative impact, making a positive contribution wherever possible. We believe that we have an obligation to protect and support our communities, people, environment and heritage through proactive policy and an inclusive approach. Here’s how we do it:

Environmental

Our environmental impact and the long-term legacy we leave for future generations is of critical importance to Obsidian. With the built environment and construction sectors responsible for nearly 40% of the UK’s emissions, it is imperative that the industry begins moving towards a greener future. As such our pledge is to stay at the forefront of our industry, leading the charge to build a sustainable future and setting a positive example for our competitors and stakeholders.

We actively engage with all stakeholders, suppliers and consultants to encourage a proactive approach to sustainability and encourage them to use innovative solutions in building design and construction. In doing so we ensure that our schemes are as sustainable as possible, allow for the retention of green space, and protect/encourage biodiversity. To further our impact in this regard, we also aim to work with a network of preferred homebuilders who we can trust to develop an environmentally and socially conscious scheme.

Lastly, we pledge to offset any and all emissions created in the course of doing business to make us a carbon neutral company immediately, in recognition of the urgency of the need for change.

Social

Our approach to land promotion is led by a desire to create well designed communities that people genuinely want to live in, and that the existing communities around our developments consider to be complementary to the community. We do this by actively engaging with stakeholders during the consultation process and striving where possible to accommodate any genuine concerns which arise in relation to our schemes. Where appropriate, we also endeavour to create additional value to local communities helping to provide amenities where there is a local need, ensuring the play areas within our developments are to the highest possible standard, and maintaining or enhancing green spaces and the environment.

In addition to designing attractive schemes which leave a positive and lasting legacy, we provide an element of affordable housing on all our sites, making them accessible to every demographic.

The social element of ESG also extends to our own work force. We care for our employees and believe that we have a responsibility to create an open, inclusive, professional and trusting work environment, and that we remain true to our values. The health, safety and wellness of our staff is paramount, and we develop the skills of our staff to help with both their own personal development and the success of the business.

Finally, at Obsidian we believe it is our responsibility to give back through charities which are close to our hearts. We are continuously striving to raise funds and support these charities to help make an impact.

Governance

Obsidian has an independent Board of Directors and strict governance procedures in place, including:

• Monthly Board meetings

• Budgetary and remuneration oversight by our parent company’s Board, Capital Committee and Credit Committee

• Robust governance policy handbook

• Strong internal control processes to mitigate risk

• Robust employee handbook

• Accurate and transparent accounting

Our governance policies cover every aspect of the business and must be followed by all staff. A key governance focus is to minimise and mitigate risk due to fraud, misappropriation or error. These policies are designed to provide the internal controls necessary for the protection of staff, shareholders and the directors who are themselves fundamentally responsible for the control of the company’s activities and funds.

Every member of the business is expected to adhere to our company values, at the heart of which includes transparent communication and acting with integrity.

All governance procedures are continually reviewed for appropriateness and updated as necessary to ensure the strictest governance and oversight.