PictonProperty Income Limited Sustainability Report 2021
07
Introduction
Approach
Environmental Focus
Sustainable Buildings
Our Employees
Stakeholder Engagement
Appendix
Introduction The challenges impacting business Sustainability trends
The sustainability landscape continues to evolve bringing with it key challenges and opportunities for the business. This year could be seen as the tipping point for considering social injustices and inequalities and embedding climate risk into corporate strategy.
The impacts of the Covid-19 pandemic on economies, public health and society at large are far reaching and yet to be fully realised. In the UK, at the height of the first national lockdown, GDP growth fell to record lows and unemployment levels began to rise. The UK Government responded with an extensive support package, including the furlough and self-employed income support schemes, stamp duty and business rates holidays and reduced VAT. As our understanding of the virus grew and society adapted to social distancing and remote working, subsequent lockdowns were not as severe on the economy. With the UK leading the way with a vaccination programme, our recovery looks set to be fuller and faster than many anticipated. Economic recovery for all
Analysis of the shape of recovery has taken the form of letters; typically, a V symbolising a sharp decline and quick recovery, U for a slower recovery, W for double dip recession, which was thankfully avoided, and a K, whereby the recovery takes two separate directions, some prosper, and others continue on a downward trend. Those who became unable to earn or access Government support during the pandemic have been disproportionately adversely affected and will take longer to recover. At this crucial time, it is vital that we strive to combat inequality and improve the prospects of those worst hit by the pandemic. There is increasing recognition amongst Government and business leaders that economic growth is not the only way to measure success. It is becoming harder to ignore the effects of poverty, societal injustice, climate change, catastrophic weather events, forest fires and rising sea levels. As we navigate our way out of the pandemic, we need to do so with solutions that meet the needs of local communities and protect the environment.
Read more on our response to supporting local communities on pages 39–40
Powered by FlippingBook