We use an established system of risk management to assess the effects of our activities on the environment, local economies and the community. Many risks identified provide for the possibility of improving the manner in which we operate and, in many cases, we are already working to maximise these opportunities. The highest-scoring risk identified relates to the planning process, its increasing complexity and the potential for delays.

Recognising and tackling non-financial risk is a key element of our approach to corporate responsibility and ultimately the duty that we owe to all our stakeholders.

Our largest investment is in land. In order to mitigate possible risk, prior to acquisition, all sites in excess of 0.5 acres are tested with either an Environmental Impact Assessment or Sustainability Audit. For example we seek to identify if a site is susceptible to flooding from watercourses or tidal surge. Any site that does not provide a satisfactory outcome from these assessments and audits (e.g. with regard to the potential effect of climate change), is rejected at the earliest stage.