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← Ukgbc

2024-03-31-accounts

UKGBC Ltd

C O M PA N Y R E G I S T R AT I O N N U M B E R 0 1 0 2 9 2 3 9 C H A R I T Y R E G I S T R AT I O N N U M B E R 1 1 3 5 1 5 3

UKGBC IMPACT REPORT 2023–2024 2

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PA G E
Foreword 3
Year at a glance 5
How do we measure impact? 6
Goal 1 7
Goal 2 9
Goal 3 10
Goal 4 11
Goal 5 13
Goal 6 15
Goal 7 19
Internal impact 21
What’s next? 22
Financial Statements 24
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UKGBC IMPACT REPORT 2023–2024 3

Against a backdrop of political backsliding and economic volatility, I joined the UKGBC team in summer 2023. It’s been a busy year as we have continued to bring together voices from across the sector and beyond to advocate for the radical transformation of the built environment. So, what are some of our key moments?

Despite existing buildings being responsible for a quarter of the UK’s territorial greenhouse gas emissions, the policies and investment needed to facilitate retrofitting our homes and workplaces remains severely inadequate. However, across the year UKGBC has built a broad campaign, bringing together industry, policy-makers, and politicians to illustrate what’s needed, demonstrate capabilities and willingness, and develop guidance and tools that are poised to facilitate action the moment that government unlocks this critical aspect of climate action.

This climate action has never been more necessary. Our progress report tracking emissions reductions against our Net Zero Whole Life Carbon Roadmap revealed this year that the built environment must double efforts if we’re to get back on track by 2025. Supporting this intensified ambition, we continue to work with partners across the industry to develop the UK’s first Net Zero Carbon Building Standard , have published guidance on embodied carbon

measurement and reporting, and delivered learning and training resources on key decarbonisation topics for broad audiences. The connection between the climate and nature crises is ever present and notably we launched a platform for crowdsourcing information on Embodied Ecological Impacts of the materials that make-up the built environment.

More widely, an increasing consensus around the need for more systemic change was reflected in the engagement of a broad range of practitioners in our Systems Change Programme that brought together over 200 people representing diverse world views. This, together with the fierce calls for action from our Future Leaders and Change Accelerator cohorts, and the willingness of our board-level Recalibrate alumni to pilot radically different models of operation, motivates us to keep working towards our mission, despite political and economic headwinds.

The UKGBC team have shown extraordinary generosity and capacity for deep thinking coupled with pragmatic advocacy and I feel tenaciously optimistic that the UKGBC network coalition continues to be on the front-foot for the coming year and beyond.

Smith Mordak Chief Executive, UKGBC

UKGBC IMPACT REPORT 2023–2024 4 UKGBC is the membership-led industry network radically transforming the sustainability of the built environment. We represent the unified voice of our industry’s current and future leaders who are working together to deliver a just transition across the sector, in response to the climate and nature crises. ; UKGBC ~~zz~~

5

UKGBC IMPACT REPORT 2023–2024

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Satisfaction
score
Number 4,641 89%
of learning 2022-2023 2022-2023
AGLANCE
attendees
4,669 ???
2021-2022 2021-2022
Active Opportunities for members to
member get involved
contacts
Members 733 9,471 167
2022-2023 2022-2023 2022-2023
672 7,438 200
2021-2022 2021-2022 2021-2022
Member individuals involved in Solutions and case studies
our Nature & in solutions
Resilience library
work
ge a r C
Member 843 428 205
individuals
2022-2023 2022-2023 2022-2023
involved in
Advancing Net 411 275 157
Zero work 2021-2022 2021-2022 2021-2022
Active Media
member mentions
contacts
LinkedIn 30K 71.2K 1,503
followers 2022-2023 2022-2023 2022-2023
22.3K 66.4K 1,492
— 2021-2022 2021-2022 2021-2022
e
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UKGBC IMPACT REPORT 2023–2024 6

Tim Adams Director of Impact and Operations

The UK Green Building Council’s mission is to radically improve the sustainability of the built environment and teams across our organisation have been creating momentum to make that happen and showing industry and government where the significant gaps remain.

Our work with the Buildings Breakthrough at COP28 helped ensure that buildings were seen in a new light, with increased emphasis on the holistic role they play in tackling the climate crisis. Another vital piece of work was mapping industry progress toward meeting net zero by 2050 – the Whole Life Carbon Roadmap . However, understanding exactly how UKGBC creates impactful change, is complex.

When planning, we look at each of our activities and goals, visualizing the difference that we want to make. Indicators are chosen depending on what is most appropriate for the activity. Sometimes the outputs are measured: the number of attendees, downloads or views. We may measure outcomes, the change in outlook that members, participants and delegates experience and record. Where we can, we measure the Impact, either

quantitively or qualitatively – for example the number of industry members actively using our guidance to meet their sustainability goals.

The actions taken by the users of our outputs are testament to the impact of our efforts. We listen to the feedback and capture the accounts of what people are doing. The maxim that you can’t manage what you can’t measure is long dead. We don’t want to measure the merely convenient and then chase those numbers upwards – to achieve what?

The important thing is that our work is valuable to those pursuing our shared goals. We act according to our members’ needs and we listen to their feedback. Please keep telling us what you think.

OUR 7 GOALS

UK national and devolved policy frameworks have demonstrably evolved to reflect the critical priorities highlighted by UKGBC.

GOAL 1

Local authorities have progressive built environment plans and policies that demonstrate best practice and provide signposts for national policy improvement.

GOAL 2

GOAL 3 : GOAL 4

Governments have initiated a progressive sector-wide public estate decarbonisation and procurement plan, to translate the existing targets – including from COP – into delivery.

Businesses are cultivating leadership mindsets, setting ambitious science-based commitments, and taking practical action to achieve these.

Consistent standards and metrics for built assets have been developed and are in widespread usage, and the cost of carbon is increasingly factored into investment and financing decision-making.

GOAL 5 assets have been developed and are in widespread usage, and the cost of carbon is increasingly factored into investment and financing decision-making. GOAL 6 Businesses and professionals the value chain and across the UK are throughout collaborating to identify challenges and solutions, and to define and adopt best practice guidance. GOAL 7 Knowledge, skills, and competencies are increasing in order to accelerate the industry’s transformative change.

UKGBC IMPACT REPORT 2023–2024 7

1

GOAL

UK National and Devolved policy frameworks have

demonstrably evolved critical to reflect the priorities highlighted by UKGBC

Challenge and Response

The challenge in 2023/24:

In the run-up to a General Election year, both major political parties backtracked on green pledges. The Conservatives announced delays around phasing out a range of fossil fuel activity, and opened-up the North Sea to the prospect of further drilling gas and oil. A promised £28bn in green investments, while the Scottish Government followed more ambitious policies than Westminster, but stalled in some key areas.

What have we done:

Despite significant political headwinds and backtracking on the green agenda, we helped shape the political and policy conversation and saw Biodiversity Net Gain legislation come into force – a policy we’ve been championing for years.

Our advocacy targeted changes in the planning system, which is a critical mechanism for transitioning to a sustainable built environment. We won significant cross-party support for giving climate and nature legal priority in the planning system with the issue fiercely debated in Parliament. Although the Government ultimately defeated amendments, the principle now has strong backing ahead of a new parliament.

We challenged the Scottish Government to deliver an accelerated pathway to a net zero built environment through the Heat in Buildings Bill and had a central role in the Westminster Government’s (now disbanded) Energy Efficiency Taskforce, furthered our partnership with Chris Skidmore’s Mission Zero and held positions on the Scottish Government’s Green Heat Finance Taskforce and Construction Leadership Forum’s net zero group. Our advocacy is increasing in the run-up to the General Election with calls to drive the upgrade of commercial properties, scale up financing for the net zero transition, and introduce restrictions on embodied carbon emissions.

Organisations joined UKGBC

to demand government put net zero, nature and climate resilience at the heart of planning reform.

Read letter

of UKGBC member survey respondents said their membership has empowered them to speak up on crucial policy issues.

UKGBC IMPACT REPORT 2023–2024 8

Key Moments 1 National Retrofit Investment Calculator: ~~@~~ A project that lets you ‘play Chancellor’ and explore what funding will be needed to successfully retrofit the UK’s homes. 2 Meeting with MPs at a key LD parliamentary lunch in March 2024: As we look to shape the agenda ahead of the general election.

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3 2
Joining key influencing boards
in Scotland and UK-wide:
Simon McWhirter strengthens our
involvement in Scotland by joining the board
of Built Environment – Smarter Transition
as well a board role on the UK’s National
Retrofit Hub.
3
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1
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“ Bringing some precision
to estimating what will be
required to drive energy
efficiency into homes, bring
down carbon emissions, and
bring down the the cost of heating our
homes is really important and I hope
this tool can make a major contribution
to this vital element of our drive to
achieve net zero by 2050, whichever
party is in power. ”
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PHILIP DUNNE MP
Conservative Chair
Environmental Audit Committee
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Engagements
with key political and policy
decision makers.
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UKGBC IMPACT REPORT 2023–2024 9

2

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GOAL
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Local authorities have progressive built environment plans and policies that demonstrate best practice and provide signposts for national policy improvement.

Challenge and Response

The challenge in 2023/24:

We must focus on existing homes if we are to meet our carbon targets, and to break the deadlock on retrofit we need a joined up, top down/bottom up approach. Outside of national government, we need to support local stakeholders like local authorities and community groups to help deliver retrofit at scale, through a place based approach. However, these groups are underfunded and time-poor, leaving them without the resources to meet their goals.

What have we done:

Over the last year UKGBC has continued its strong partnership with the MCS Foundation to create the Local Area Retrofit Accelerator (LARA) project. This project will empower local authority retrofit officers to roll out cohesive, effective Local Retrofit Strategies – identifying key policy levers for change and avenues for grant funding. In short, it gives local authorities the resources to drive meaningful energy efficiency upgrades across their boroughs, bringing down carbon emissions and improving community health and wellbeing.

“ The UKGBC Local Authority Retrofit forum is a really helpful and inspiring network of councils sharing approaches and experiences, as well as our attempts to overcome barriers, to increase the understanding and delivery of retrofit across our communities. In addition, the sharing of examples and resources as well as the supporting work UKGBC has been doing, is giving us extra support to local authority officers help us navigate the complex route that in our Local Authority retrofit takes to support decarbonisation, Retrofit Forum. energy efficiency and healthy home improvements ”

CARA NADEN

Environment Specialist Somerset Council

To form connections and share knowledge, we’ve continued our Local Authority Retrofit Forum. The Forum meets monthly and has covered a broad range of topics in that time, from archetypes to retrofit standards to retrofit finance. We now have over 100 officers signed up and the group is growing all the time.

UKGBC IMPACT REPORT 2023–2024 10

3

GOAL

Governments have initiated a progressive sector-wide public estate decarbonisation and procurement plan, to translate the existing targets – including from COP – into delivery.

Challenge and Response

The challenge in 2023/24:

Upgrading thousands of public buildings – our schools, hospitals, offices and leisure centres, is key to breathing new life into our struggling town centres and communities and catalysing the wider retrofit industry. While funding has increased for this sector, the Climate Change Committee warns there is no policy commitment beyond 2024/25 and a significant ramp up in investment will be needed to meet carbon budgets.

What have we done:

We’ve been using our roles on the Government’s, now disbanded, Energy and Chris Skidmore’s Efficiency Taskforce Mission Zero Network to position longterm funding, leadership and procurement power across the public estate as a crucial lever. And we continue to engage with the Government Property Agency, which has made contributing to net zero a strategic priority.

Through our participation in the Net Zero Carbon Buildings Standard we’re helping to assess the carbon budgets and standards required for key public sector building architypes.

UKGBC IMPACT REPORT 2023–2024 11

4

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GOAL
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Businesses are

cultivating leadership mindsets, setting ambitious sciencebased commitments, and taking practical action to achieve these.

UKGBC members are in the Race to Zero (up from 202 last year).

Challenge and Response

The challenge in 2023/24: To see real change across our industry we need ambitious, forward thinking leaders – both as individuals and organisations. It’s their drive that makes sustainability goals feel achievable and navigable, with clear ‘north stars’ to organise action behind.

What have we done:

For individuals, this year was a big one for our leadership programmes as we celebrated 10 years of Future Leaders. To mark the occasion, we ran the programme twice totalling over 40 delegates. In-person stays across the UK allowed the cohort to explore innovative ideas and create close bonds, leaving inspired to take action together.

At the organisational scale, we continued our role as a Race to Zero Accelerator, sharing our experience with the Climate Champions team and other Accelerators and Partners to encourage more robust organisational commitments across the sector. Looking to our full membership base, we’ve focused on clarifying UKGBC’s membership requirements – reviewing our members’ alignment with the UKGBC mission.

New for this year, we took one step further back and focussed on Systems Change in the Built Environment. The six month pilot gave industry professionals the opportunity to ask big questions, and transform their thinking. Through discussion and activities it became clear that as an industry we need to dedicate more time to stepping outside of our specialisms and working collaboratively to shift industry wide issues.

1 Key Moments 1 Meeting the Future Leaders in Bristol: We kicked off our 2024 programme in Bristol, visiting local innovative organisations including Platform Places, WeCanMake, Sparks Bristol, TerraLupa, Clyde & Co 2 and Orientate. 2 Using art to bring environmental issues to life: a At a Leader’s Network meeting, we a ~~s~~ demonstrated the fragility of eco-systems as we used a live art demonstration to draw attention to the impacts of sand dredging on Lough Neagh in Northern Ireland.

“ I can’t recommend [Future Leaders] strongly enough. I came out of this experience with a whole new network of peers and with so much more confidence in my own leadership abilities. The entire UKGBC team made this whole experience such a joy and I would encourage anyone who is thinking about the next steps in their sustainability career to apply. ” CASSIE CHARETTE Participants Senior Sustainability Report Manager in UKGBC leadership Canary Wharf Group programmes. eI

UKGBC IMPACT REPORT 2023–2024 12

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af
"PW peicete
UKGBC Future Leadership Programme
featuring Bristol, Hawkwood Future Leaders
events and Summer Bootcamp 2023.
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The UKGBC Systems Change Conference
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UKGBC IMPACT REPORT 2023–2024 13

5

GOAL

Consistent standards and metrics for built assets have been developed and are in widespread usage, and the cost of carbon is increasingly factored into investment and financing decisionmaking.

Challenge and Response

The challenge in 2023/24: Our industry increasingly has strong ambitions for reducing its carbon emissions, but the path can seem unclear and complex. UKGBC’s development of metrics and standards has long worked to change this, and this year was no different.

What have we done:

For the first time since its launch, in 2023 we drew up a Progress Report against our Whole Life Carbon Roadmap that demonstrated that although some reductions had been achieved, we are not going far or fast enough. Particularly in embodied carbon, we see hardly any reductions in emissions.

By working with other leading industry bodies on the Net Zero Carbon Building Standard, we continue to support the development of one key consistent metric for net zero built assets, that will increase the transparency and accuracy of net zero claims in the sector. Additionally, our reports on embodied carbon aim to aid the standardisation of modelling and reporting both embodied carbon and scope 3 across our industry with clear frameworks that complement work from other leading organisations.

Finally, in recognition of our changing climate, we kicked off our Climate Resilience Roadmap which will aim to give a clear trajectory for achieving a climate resilient built environment by 2050. This project has seen industry, academia and policy makers come together

to answer complex questions and develop unique metrics ahead of its launch next financial year.

UKGBC IMPACT REPORT 2023–2024 14

Key Moments 1 Whole Life Carbon ~~}~~ Progress Report: Launched at COP28, this report demonstrated that built environment emissions have decreased by 13%, but this is 6% short of where we need to be. This shortfall in emissions is equivalent to 6.5 million cars – we need to take 1 in 6 cars off the road to meet our emissions target.

2 Collaborating with industry: During the creation of reports such as ‘Embodied Carbon Modelling and Reporting’, we’ve worked alongside key industry bodies such as RICS, IStructE and LETI.

“ UKGBC has played a crucial role in shaping the UK Net Zero Carbon Buildings Standard . The organisation continues to contribute its

if

expertise and collaborate with other key industry bodies to create this unified standard, against which we hope all net zero buildings in the UK will be verified once published later this year. The Standard will be a critical step forward in ensuring the UK’s built environment understands what it needs to do to play its part in delivering our national Net Zero ambitions. ”

DAVID PARTRIDGE

Chairman, Related Argent Chair of Net Zero Carbon Building Standard

of UKGBC Member Survey

respondents said they had used the Whole Life Carbon Roadmap in their work (same as last year).

1

2

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UKGBC members
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NOVEMBER 2023 UK Green Building Council ukgbc.org MARCH 2024 UK Green Building Council ukgbc.org
Read report Read report
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have been part of the Climate Resilience Roadmap.

UKGBC IMPACT REPORT 2023–2024 15

6

GOAL

Businesses and professionals throughout the value chain and across the UK are collaborating to identify challenges and solutions, and to define and adopt best practice guidance.

Challenge and Response

Out of this collaboration we’ve created leading reports and guidance that look to support members in the face of changing legislation or respond to issues and knowledge gaps flagged by industry. Our guidance on Carbon Offsetting, Renewable Energy Procurement, Embodied Carbon and Commercial Retrofit give industry key steps and best practice examples to allow them to easily adopt strategies to reduce their carbon emissions.

The challenge in 2023/24:

Different sectors in our industry can have little oversight of what others are doing at different stages of a building’s life cycle. This means it can be hard to see common problems and solutions that lead to transformational change. Therefore guidance can often consider one point of view and not the other – meaning it’s not best placed to lead the industry as a whole.

of UKGBC members

say they joined “To collaborate with other organisations across the built environment value chain and find ways of overcoming barriers to sustainable outcomes. This is up

What have we done:

One of our key strengths is that we create Across industry, innovation is needed built environment value chain and spaces to overcome challenges – whether to drive creative solutions, and UKGBC find ways of overcoming barriers that’s at our Net Zero Solutions Forum, continues to work with our Innovative Startto sustainable outcomes. This is up ongoing Nature-Based Solutions’ Labs or Up members to highlight and showcase from 72% last year. one-off Collaboration Cafés. These spaces new, scalable ideas. Our Innovative Start-Up offer industry members the opportunity to Forum continues to be a successful setting work closely with their peers outside of dayfor larger members to meet start-ups and to-day concerns so they can focus on big understand how they can work together ideas and the key issues at hand. to drive climate action. ' ’ , See a qu

Innovative Start Up Members (up from 70 last year).

UKGBC IMPACT REPORT 2023–2024 16

Key Moments

Preparing industry for

Biodiversity Net Gain:

Over several months we shared a number of different resources that lead industry through the key concepts and actions to help meet legislation and reimagine an asset’s relationship with nature.

Trends in Sustainable Solutions 2023:

Our analysis examines 10 key themes in innovation last year, sharing context on their use and the driving forces for these solutions in the UK built environment.

“ The ability UKGBC has to convene and drive collaboration has again been shown through the wealth of outputs for industry to benefit from and our involvement has spanned work on solutions and innovation through to advancing net zero. We remain great supporters of UKGBC and are looking forward to seeing the outputs of the resilience and nature programme next year. ”

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DAVID WILLOCK
Managing Director
ESG Finance & Structuring,
Corporate & Institutional Banking,
Lloyds Bank
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JUNE 2023 UK Green Building Council ukgbc.org SEPTEMBER 2023 UK Green Building Council ukgbc.org JANUARY 2024 UK Green Building Council ukgbc.org
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Members of the Circular
Economy Forum
(up from 41 last year).
A COMPENDIUM OF EXPERIENCE
RISKLABS =
AUGUST 2023 UK Green Building Council ukgbc.org
Read report
UK Green Building Council ukgbc.org JUNE 2023
Read report
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17

UKGBC IMPACT REPORT 2023–2024

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_4
3 y A %! \
Upgrading Britain’s Homes
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Upgrading Britain’s existing homes is the biggest opportunity to simultaneously tackle climate emissions, fuel poverty, economic productivity and energy security, but progress is painfully slow.

To help break the deadlock, our memberpowered Upgrading Britain’s Homes project has been working to unite the sector and a number of political champions behind the call for upscaled government investment and a modernisation of Stamp Duty to incentivise household investment in insulation and low carbon heating.

The team worked with experts from Leeds Beckett University, Arup, Thermly and PwC to create a ‘national retrofit investment calculator’ – an evidence-based tool to allow industry and policy makers to ‘play’ Chancellor and Secretary of State and identify how to have the biggest impact with limited resources. The calculator has been used by a range of parties. to develop policy and has been widely welcomed across industry.

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Le.
™ i
Embodied Ecological Impacts
6
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Impacts on nature and biodiversity are quickly rising up the agenda. In order to address the environmental crisis holistically, we need to adopt a whole life cycle approach to nature and biodiversity. Deforestation that happens due to mining of iron or aluminium, destruction of marine habitats due to sand dredging or biodiversity loss due to monocultures of timber are just some examples of these embodied ecological impacts.

The knowledge hub created on this topic provides high-level information about these issues through the lens of 5 key raw materials, and signposts existing resources for the industry to start acting on these issues. In addition, it encourages the audience to get in touch with UKGBC, providing additional information and expertise to be uploaded on the website. In that way, the knowledge hub acts as a platform to support a wide-ranging audience of built environment professionals to act on the ecological emergency.

UKGBC IMPACT REPORT 2023–2024 18

COP28

In 2023, global leaders met in Dubai to tackle the climate crisis, and UKGBC’s Smith Mordak and Simon McWhirter, alongside key UKGBC members, were amongst their number.

This conference marked the first ‘Global Stocktake’ against the Paris agreement, as well as the launch of the Buildings Breakthrough – which for the first time put built environment solutions at the top table for global climate action. We were excited to be part of this crucial campaign that asks for “near-zero emissions and resilient buildings being the new normal by 2030.”

It was powerful to meet with Green Building Council members from across the world as well as global leaders in the built environment. UKGBC appeared on panels alongside key political and industry figures, sharing our vision and member-led solutions to a wide, influential audience.

Bespoke Learning Opportunities

Throughout the year we’ve worked with several key members on bespoke learning programmes, from large scale Carbon Academies to immersive programmes to smaller scale lunch and learns and workshops.

The bespoke work interweaves technical knowledge building with personal sustainability leadership work with the aim of empowering and building confidence in industry leaders. The programmes have been deeply transformational, activating leaders to drive change through influencing clients and taking new approaches.

Organisations we worked with include: Wates, Colliers, AtkinsRealis, JLL, Lloyds Banking Group, Trident, Cushman & Wakefield, Fishmongers Hall, West Midlands Fire Service and David Chipperfield Architects.

“ Our collaboration with UKGBC has been a =) vital catalyst in building momentum and buy-in for our Sustainability Strategy. It has changed mindsets and given our leaders real confidence in their capacity to drive change. It has also strengthened connections across the business ” which will be a lasting benefit.

JAMES PITTY

Learning and Development Business Partner Wates

UKGBC IMPACT REPORT 2023–2024 19

7

GOAL

Knowledge, skills, and competencies are increasing in order to accelerate the industry’s transformative change.

Challenge and Response

The challenge in 2023/24:

Industry is facing pressure from stakeholders and government to meet sustainability goals, but outside of core ESG teams, industry professionals can be unsure of the steps for achieving them.

What have we done:

Our open Learning and Development programme focussed on providing learning to support our programmatic work, to build awareness and upskill across the built environment.

We have led a range of masterclasses and ‘how to’ programmes to help our members get the most out of our guidance and frameworks, as we focus on supporting members from moving from the ‘why’ and ‘what’, to the ‘how’.

To make our learning packages robust and sustainable in a rapidly changing world, we have refreshed our L&D strategy – with a core vision of ‘every job is a sustainability job’. This reflects our ambition that everyone should be driving sustainability regardless of their role so need the learning opportunities to support them.

Finally, we have continued to invest in the connections we can make when face to face, all around the country. In fact, 37% of our in-person events were outside of London in 23/24, with a goal to hit 50% next year.

Events Reaching more than 1,200 people.

For our work that aims to raise awareness of key concepts, we have consolidated our offer, making it simpler and easier for members to use. By re-launching a refined email-delivered course and deploying new and very popular Bitesize packages, we’ve given industry key resources to skill up large teams.

Open programme learning hours delivered.

UKGBC IMPACT REPORT 2023–2024 20

GUIDANCE ON PHOTO PLEASE

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“ Very welcome and valuable event, well run, left me wanting more! ”

ATTENDEE OF CARBON OFFSETTING MASTERCLASS

1 a

Key Moments

1 Advancing Net Zero Showcases in Leeds and London:

Bringing our ANZ team to our members, giving them the opportunity to ask questions and explore the future of net zero.

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2 How to assess physical risk
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in the built environment:

“ I was expecting a traditional workshop in room learning policies and regulations updates, instead they provided an incredible experience communicated with passion and enthusiasm. ”

ATTENDEE

OF BIOPHILIC BUILDINGS TOUR

Guiding participants through the process using a real asset across a number of workshops.

3 Collaboration Cafés:

Following last year’s success, we held 4 Cafés across the UK that encouraged participants to open discussions about what it means to adapt to our changing climate in different regions and cities.

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UKGBC IMPACT REPORT 2023–2024 21

Of UKGBC team

agreed they have the power “to make necessary changes to how they work to improve their own wellbeing” (+25% on last year).

Of UKGBC team

agreed they have “have meaningful ways to stay connected when working across different locations” (+10% on last year).

This year saw our team grow and Key Moments change in several ways, notably with 1 Insights with the arrival of a new Chief Executive. Performance Catalyst: We used these changes as an Giving each team member a personalised opportunity to explore new ways insights profile to help them understand how of continuing to make UKGBC an they work best and empower them to better inclusive, supportive and exciting communicate with one another. ~~a~~ place to work. 2 Coming together in nature: In recognition of the importance of nurturing DQ Getting together for 24 hours in the diversity and inclusion in our industry, we Devon countryside, being creative and have created an ED&I strategy as part of making connections. our partnership with Inclusive Employers. 3 Developing core skills: As part of our ongoing work we have my 7 team members had public speaking

In recognition of the importance of nurturing diversity and inclusion in our industry, we have created an ED&I strategy as part of our partnership with Inclusive Employers. As part of our ongoing work we have completed internal monitoring and have started to undertake external monitoring too. Additionally, we’ve refreshed our approach to interns and entry-level vacancies, encouraging more opportunities for a wide range of applicants to build diversity in our sector.

17 team members attended training to develop their leadership skills and empower them to best support their team.

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To bring our culture to life we’ve been continuing to have lots of team time together, both in London and in nature, and have built ‘buddy’ groups to encourage non-work socialising to build relationships in light of hybrid working. With the realities of working in climate change often at the forefront of our team’s minds, we held a session with CPA (Climate Psychologists Alliance) and are working to build an ongoing partnership.

What’s your favourite thing about your job?

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QUOTE FROM UKGBC
STAFF SURVEY
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Lastly, we’ve focused on core skills training with external experts and prioritise internal skills sharing to build a team of climate leaders.

UKGBC IMPACT REPORT 2023–2024 22

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Simon McWhirter
Deputy CEO
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And so ends another year of blended frustration. Frustration at the lack of the substantive – indeed aggressive – progress we need and the sheer lack of political and business bravery essential on many fronts. But a year limned with reasons for cautious optimism from some of the areas of shining light Smith mentioned up front.

And now we enter a truly tumultuous year politically; where we face not just a new government in the UK, but an annum where pretty much half the planet is voting for their leadership

This global governmental overhaul obviously brings the risk of rightward political swings – and its oft-linked demonising of progressive climate politics – but also opens gaps.

Gaps for great solutions to be brought forward; whether in setting out pathways to better outcomes like our upcoming Climate Resilience Roadmap, or in our bespoke education and leadership work, training rolling cohorts of our sector’s current and future leaders. Or taking our member-led policy and technical solutions onto the global stage, and really using levers like the UN’s Buildings Breakthrough agenda to position the built environment as a fulcrum for real change.

Creating a Roadmap for Climate Resilience:

Building on the work we began this year, we will complete our Climate Resilience Roadmap and share it with industry to offer a robust framework we can all work against as we seek to adapt our built environment to the changing climate.

Supply Chain

Decarbonisation: We will look at a variety of levers for decarbonising our supply chains. This includes the use of material passports for a circular economy, upgrading civil infrastructure and the role of our energy system in the built environment.

Regenerative Places: A new approach to our localised work, focusing on creating places that are low carbon, climate resilient and allow communities to thrive, through retrofit and holistic thinking.

Preparing for

a General Election: Utilising the opportunity of the General Election to bring key built environment issues up the agenda and influence the manifestos of all parties.

Making nature a part of

the built environment: Through our Nature and Biodiversity Learning Programme we will radically change delegates’ view on nature and its role in the built environment.

Working on

a Systems Level:

We will be building on this year’s Systems Change work by bringing together our leadership programme alumni and our wider membership base to drive collective action and transformational change.

Accelerating Retrofit: Across our teams we’ll be championing retrofit both domestic and nondomestic. Specifically, we’ll be continuing our nondomestic retrofit work with our Retail and Logistics project.

Supporting

members upskill: After an incredibly impactful year of working with a range of members on upskilling their sustainability teams, we have exciting plans to expand our Bespoke Learning Offering to cover new topics and reach new teams.

UKGBC IMPACT REPORT 2023–2024 23

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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 24

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PA G E
2023-2024
Trustees Report 24
Reference and Administrative Details 25
TRUSTEES
REPORT AND Trustees’ Report 26
Financial Statements 37
FINANCIAL
STATEMENTS Independent Auditor’s Report 34
Statement of Financial Activities 37
Balance Sheet 38
Statement of Cash Flows 39
Principal Accounting Policies 40
Notes to the Financial Statements 43
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C O M PA N Y R E G I S T R AT I O N N U M B E R 0 1 0 2 9 2 3 9 C H A R I T Y R E G I S T R AT I O N N U M B E R 1 1 3 5 1 5 3

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 25

REPORTS REFERENCE AND ADMINISTRATIVE DETAILS

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Status: The organisation is a charitable company limited by guarantee, incorporated
on 29 September 2009 and registered as a charity on 24 March 2010.
Governing Document: The company was originally established under Memorandum and Articles which
established the objects and powers of the charitable company. New Articles of
Association were approved by the Charity Commission on 21 January 2020.
Board of Trustees: Basil Demeroutis Jerome Frost OBE Sunand Prasad OBE, (Chair)
Clifford Ellis (Co-opted) Tara Gbolade Victoria Quinlan
Judith Everett David Partridge James Mark Robinson
Sam Ewousho (Co-opted) Pearce (Co-opted) Lorna Walker
Company Secretary and Julie Hirigoyen to 1st June 2023
Chief Executive: Smith Mordak from 1st June 2023
Senior Management Team:
Chief Executive Smith Mordak
Director of External Affairs Simon McWhirter
and Deputy CEO
Director of Membership Mike Clarke
Director of Experiential Learning Elfrida Hamilton-Russell
and Leadership
Director of Impact and Operations Tim Adams
Registered Office: The Building Centre, 26 Store Street, London WC1E 7BT
Company Registration Number: 01029239 (England and Wales)
Charity Registration Number: 1135153 (England and Wales)
Auditor: Price Bailey, 3rd Floor, 24 Old Bond Street, London W1S 4AP
Bankers: NatWest Bank, 250 Regent Street, London W1B 3BN
Solicitors: Russell-Cooke LLP, 2 Putney Hill, London SW15 6AB
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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 26

Trustees’ Report Year to 31 March 2024

The trustees present their annual report and the audited financial statements of UKGBC Limited (UKGBC) for the year ended 31 March 2024.

The report has been prepared in accordance with Part 8 of the Charities Act 2011 and it is also the report of the directors for the purposes of the Companies Act 2006.

The financial statements have been prepared in accordance with the accounting policies set out on pages 39-54 and comply with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

Objectives and Activities

The objects of the charity are for the public benefit:

Public Benefit

The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity.

The trustees are confident that UKGBC’s aims and activities of Improving Sustainability, Educating, Campaigning for and Raising Awareness of the Sustainability of the Built Environment are in accordance with the regulations on public benefit.

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FINANCIAL
REVIEW
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Results for the year

UKGBC incurrred a deficit of £216,817 (2023 a deficit of £402,766) in line with an investment budget for the year, which was designed (along with investment budgets of 2022-3 and 2024-5) to reduce the surplus over the minimum reserves requirement and increase impact in the face of the accelerating climate crisis. In addition, a restatement of liabilities arising in 20202021 of £39,572 meant that Charitable funds decreased to £465,738 (2023: £722,127).

Increased expenditure allowed UKGBC to achieve step-change ambitions. A fulltime presence has been established in Scotland, increasing the regional presence within the UK. The website has been re-developed from the ground up, increasing accessibility and searchability whilst adopting low-carbon operation. UKGBC has supported the formation of the Net Zero Carbon Building Standard, has increased the resourcing of a solutions library and has expanded the functionality of the customer relationship management system.

Demand increased for UKGBC’s services in supporting the greening of the Built Environment. This is evidenced by the increase in membership income and a corresponding expansion in the organisation, and its expenditure.

Total income for the year increased by £664,897(23%) to £3,525,301 (2023: £2,860,404) compared to the previous year.

Membership subscriptions are the primary source of income, accounting for 59% of total income (2023:71%). These have increased by £50,651 over 2023, with total membership fees in the year amounting to £2,080,232 (2023: £2,029,581).

Grant and contract income has increased by 50% to £232,588 (2023: £154,659). Following a grant secured through the Laudes Foundation and Ikea in addition to existing funding from MCS Foundation.

Partnership Income increased by £362,004 to £694,646 (2023: £332,642), partly due to outputs rescheduled from 2023.

Education course income increased by 51% to £425,021 (2023: £281,653) .

The value that we have received from expert members speaking at our education courses, the venues which have been donated to use without charge and secondees from member organisations who worked for us during the year, have been recognised as voluntary (in kind) donations. The value of these donations amount to £68,121 (2023: £41,615).

Total expenditure increased by £478,948 in the year to £3,742,118 (2023: £3,263,170) largely as a result of expenditure associated with staff costs. Staff costs remain the biggest single cost, comprising 69% (2023: 72%) of costs at £2,583,551 (2023: £2,325,139) an increase of £258,412. The increase was driven by a cost of living pay award averaging 4.7% and recruitment into positions which were vacant through much of the prior year.

Support costs in the year came to £850,766 versus an equivalent of £807,456 in the previous year.

Where our funds come from

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59% Membership
12% Education Course Fees
7% Grants
20% Partnership
3% Other Income
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Analysis of our expenditure

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44% Improve Sustainability
24% Education
9% Raising Awareness
23% Support Costs
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FINANCIAL REVIEW CONTINUED

Reserves policy, financial position and going concern assessment

Reserves policy

The trustees view reserves and deferred membership income as the buffer against financial difficulties.

In addition to FY22-3 and FY23-4, the trustees propose an investment budget for FY24-5 to increase UKGBC’s reach and consume excess reserves. This policy includes a provision to assess whether reserves and deferred membership income are at a level which ensures that UKGBC’s core activities could continue during a period of unforeseen difficulty and that a proportion of funds be maintained on easy access deposit. The calculation of the required level of reserves and deferred membership Income is an integral part of UKGBC’s planning, budgeting and forecasting cycle. It takes into account the risks associated with each stream of income and expenditure varying from budget; the planned activity level; and UKGBC’s future commitments.

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total budgeted income from membership renewals in FY2024-25 being £2.05m, applying a worst-case scenario of 20% attrition would give rise to a budgeted loss of income of approximately £84k. If membership attrition is greater than 20%, cost-mitigating strategies will be implemented to reduce the impact of this on the charity.

The methods recommended for calculating the minimum level of reserves and deferred membership income (which fall under the Charity Commission’s recommended reserve policy guidelines for less complex charities) are that:

1. The policy addresses the risk of the need for unforeseen expenditure

2. The policy addresses the risks associated with the loss of a source UKGBC propose another another of income ‘extraordinary investment budget’ for FY2024-25, aiming to fully harness the In using each of these in turn, the trustees of unprecedented momentum for UKGBCs UKGBC calculate and test whether the level mission within business boardrooms, of Deferred Income is adequate. financial markets and socio-politically. The The need for unforeseen expenditure board is supportive of the UKGBC executive This method involves calculating the team to re-invest funds held in excess of the expenditure that would be required to reserves requirement where these can be maintain UKGBC’s ordinary activities for a deployed to amplify impactful outcomes period of four months. The level of reserves against the charitable objectives.

In using each of these in turn, the trustees of UKGBC calculate and test whether the level of Deferred Income is adequate.

The need for unforeseen expenditure This method involves calculating the expenditure that would be required to maintain UKGBC’s ordinary activities for a period of four months. The level of reserves and deferred membership income provision, based on four months of UKGBC’s FY202425 budgeted unrestricted expenditure (excluding depreciation) is approximately £884,000.

The trustees consider that, based on current estimates, the minimum level of reserves plus deferred income for 2024/25 would be between £84,000 and £884,000, as determined by the two tests above.

Risks associated with the loss

At 31 March 2024, deferred membership income was £1,018,235 (2023: £1,029,471) which is in excess of the minimum requirement. In addition, free reserves (excluding the net book value of fixed assets of £13,375) amounted to £452,362 (2023 (£703,587).

of a source of income

Membership fees constitute 59% of UKGBC’s income. Despite the deteriorating economic conditions, membership fees grew by £50,651 (2%).

However, the trustees view the political landscape as volatile and recognize the pressure on member’s budgets due to the ongoing cost of living crisis. Based on the

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 29

FINANCIAL REVIEW CONTINUED

Going concern assessment

Trustees have assessed the impact of external influences on the charities activities, and the adequacy of resources to operate in the current climate over the next financial period.

Based on the current plans, assumptions and forecasts, whilst acknowledging there are additional financial risks, the trustees believe it is appropriate for the charity to continue to prepare the financial statements on the going concern basis.

Investment policy and performance The trustees have wide-ranging powers of investment as determined by the Articles. Due to the charity’s reserves and deferred membership income requirement (see above), funds are held that exceed the shortterm expense requirements and forecast programme costs, but to which access may be required at short notice. Therefore excess funds are placed in fixed deposit financial instruments within UK banks. The maturity of these funds is designed to correspond with forecast expenditure and reserve requirements, whilst the nature of these investments ensures that no unnecessary risks are being taken with our funds.

Funds required to meet liquidity and short-term expenditure requirements are retained in interest-bearing current financial instruments with the charity’s bankers.

The invested funds held in fixed deposit financial instruments together with those in interest-bearing current financial instruments achieved an average rate of return 4.97% (2023: – 1.1%).

Fundraising statement

Over the course of FY2023-24, UKGBC did not undertake any public fundraising activity, nor do our commercial and corporate supporters undertake any public fundraising on our behalf. UKGBC does not have any active subsidiary trading companies, nor do we employ commercial third parties to undertake fundraising on our behalf. There were no complaints in the year (2023 – none) in relation to our fundraising.

Principal risk and uncertainties

The Board of Trustees has the overall responsibility for the governance of risks and ensures there are adequate and effective systems in place to mitigate these. These risks are reviewed annually by the whole Board as an intrinsic part of strategy setting and upon consideration of new opportunities. The trustees continue to assess the major risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances and reputation. The trustees have established systems to monitor and to mitigate those risks and continue to review their effectiveness.

UKGBC has an open and accountable culture, which recognises that risk is inherent in business, particularly where we are aiming to be innovative and ahead of the curve. So, we adopt an open and proactive approach to risk management, with a view to being pre-emptive rather than box ticking.

The risk management framework is put forward by the Leadership Team, and reviewed and approved by the Risk & Audit Committee and by the Board. UKGBC’s risk management framework is designed to identify the principal risks faced by the organisation and ensure that these are being appropriately monitored. In the case of each of the principal risks, controls are in place and mitigating actions will be allocated to individuals on the team who will be tasked with the requisite accountability. A detailed risk and mitigation report featuring quantitative/ qualitative indicators will be reviewed by the R&A Committee at least twice a year.

The trustees are satisfied that systems have been developed and are in place to mitigate identified risks to an acceptable level. The significant risks and uncertainties identified through the above process are discussed on the next page.

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FINANCIAL REVIEW
CONTINUED
Status Action taken to mitigate the risk
People:
Staff turnover		 Investment in a Senior People & Culture Manager with some support underneath – enables us
to dedicate time on people related initiatives including health & wellbeing, training, D&I, team
get togethers, socials etc - all of which are crucial components of a People Centric culture.
There is a focus on career development, succession planning and salary benchmarking.
Exit interviews are conducted with all voluntary leavers – analysed for trend reporting.
External (Economic):
Economic downturn & market uncertainty
due to high infation /
war in Ukraine / COVID / other		 UKGBC has excess reserves at year end 2023/24 and signifcant deferred income – which
offers some protection against external fnancial shocks. The member value proposition is
continuously reviewed and enhanced, with the launch of the new website in early 2023. Attrition
levels are reviewed regularly by CEO, LT and R&A committee – with an uptick in 2024. Alternative
funding sources (philanthropic, governmental) are constantly being sought and an index linked
increase to combat infation is applied to membership fees.
Financial:
Charities being increasingly targeted
for Cyber Fraud and breach of data
protection.		 Increased training, security measures (e.g. Multi Factor Authentifcation, forced password reset,
virus scans, geographical restrictions and MIME Cast) have been deployed along with several
other actions. Regular reviews of threat and mitigation.
Financial:
Increased Competition		 UKGBC actively works with organisations with whom strategic partnerships can be formed
to mutually accelerate missions.
Political:
Government deregulates further in green
policy areas.		 UKGBC targets trilaterally with incumbent, lead opposition and civil service audiences in run-
up to election and through into plans for government. This balances the shoring up of existing
policy and advocating more ambition.

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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 31

FINANCIAL REVIEW CONTINUED

Structure, Governance and Management

Recruitment and appointment of trustees The Board of Trustees (who are also directors for the purposes of the Companies Act 2006) consists of not fewer than four and no more than twelve persons elected by members of the charity; in addition the Board has the power to appoint trustees to fill vacancies, and may co-opt up to four more individuals from across the sustainable built environment sector. Trustees are confirmed in post by an election process, and typically serve for an initial 3 years, whereupon they retire by rotation. They may seek re-election.

The following trustees were in office and served between 1 April 2023 and up to the date of approval of this report, except where shown.

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Trustee Appointed/Resigned
Estelle Bailey Resigned 15 May 2023
Basil Demeroutis
Clifford Ellis Co-opted 9 January 2024, for
election at next AGM
Judith Everett
Sam Ewuosho Co-opted 27 March 2024, for
election at next AGM
Jerome Frost OBE
Tara Gbolade
Bill Hughes Resigned 20 July 2023
Chris Oglesby Resigned 27 March 2024
James Pearce Co-opted
David Partridge
Sunand Prasad OBE, (Chair)
Victoria Quinlan
Mark Robinson
Lorna Walker
Derek Wilson Co-Opted – Resigned 27
September 2023
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CONTINUED

Trustee induction and training

On election, each new trustee receives an induction pack including the ‘Good Trustee Guide’ published by the Charity Commission and a range of key organisational policies and documents. All new trustees are invited to attend a Role of Trustee course and along with other trustees are given regular opportunities to meet the senior management and other staff.

Management

The day-to-day management of the charity is delegated to the Chief Executive who is responsible for achieving the overall aims and objectives of the charity to agreed annual budget and target performance criteria.

Remuneration of key

management personnel

The trustees consider that they, together with the senior management team, comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give of their time freely and no director received remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in note 6 to the financial statements.

The pay of the Senior Management Team and all staff are reviewed annually by the Personnel & Nominations Committee and normally increased in accordance with average earnings to reflect a cost of living adjustment. In view of the nature of the charity, the trustees benchmark against pay levels in other membership bodies and trade associations.

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FINANCIAL REVIEW CONTINUED ~~a~~

Remuneration of key Statement of the trustees’ responsibilities The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the trustees confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

Small Companies Note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

Approved by the trustees and signed on their behalf by: Chairman Date: /) 1st July 2024 Pd

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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CONTINUED

Independent auditor’s report to the members of UKGBC Limited

Opinion

We have audited the financial statements of UKGBC Limited (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, and statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

Basis for opinion Conclusions relating to going concern We conducted our audit in accordance In auditing the financial statements, we with International Standards on Auditing have concluded that the trustees’ use of the (UK) (ISAs (UK)) and applicable law. Our going concern basis of accounting in the responsibilities under those standards preparation of the financial statements is are further described in the auditor’s appropriate. responsibilities for the audit of the financial Based on the work we have performed, statements section of our report. We are we have not identified any material independent of the charitable company in uncertainties relating to events or conditions accordance with the ethical requirements that are relevant to our audit of the financial that, individually or collectively, may cast significant doubt on the charitable statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our company’s ability to continue as a going concern for a period of at least twelve other ethical responsibilities in accordance months from when the financial statements with these requirements. We believe that the audit evidence we have obtained is sufficient are authorised for issue. and appropriate to provide a basis for our Our responsibilities and the responsibilities opinion. of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report and financial statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report and financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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FINANCIAL REVIEW

CONTINUED

Independent auditor’s report to the members of UKGBC Limited Continued

Matters on which we are required

to report by exception

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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FINANCIAL REVIEW

CONTINUED

Independent auditor’s report to the members of UKGBC Limited Continued

Auditor’s responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charitable company and the industry in which it operates and considered the risk of the company not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements, including financial reporting and tax legislation. In relation to the operations of the Company this included compliance with the Companies Act 2006, Charities Act 2011 and Charity Statement of Recommended Practice (SORP).

The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following:

■ Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance.

Use of our report

OThis report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Cooper-Davis FCCA ACA

for and on behalf of

Price Bailey LLP

Chartered Accountants Statutory Auditors 24 Old Bond Street London W1S 4AP

Date:

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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 37

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FINANCIAL
STATEMENTS
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Statement of Financial Activities Year to 31 March 2024

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Notes Un-restricted Restricted 2024 Un-restricted Restricted 2023
funds funds Total funds funds as restated funds Total funds
£ £ £ £ £ £
Income from:
Donations and legacies 1 68,122 - 68,122 53,698 - 53,698
Charitable activities 2 3,199,899 232,588 3,432,487 2,643,877 154,659 2,798,536
Investments 24,692 - 24,692 8,170 - 8,170
Total income 3,292,713 232,588 3,525,301 2,705,745 154,659 2,860,404
Expenditure on:
Charitable activities 3
- Improving sustainability 1,813,753 356,842 2,170,595 1,952,558 158,476 2,111,034
- Education 1,134,351 - 1,134,351 719,527 - 719,527
- Raising awareness 437,252 437,252 432,609 - 432,609
Total expenditure 3,385,356 356,842 3,742,198 3,104,694 158,476 3,263,170
Net income (expenditure) and
movement in funds 5 (92,643) (124,254) (216,897) (398,949) (3,817) (402,766)
Transfer between funds (124,254) 124,254 - -
Reconciliation of funds
Total funds brought forward at 1 April
As previously reported 722,127 - 722,127 1,121,076 3,817 1,124,893
Prior year adjustment (39,492) - (39,492) (39,492) - (39,492)
As restated 682,635 682,635 1,081,584 3,817 1,085,401
Carried forward at 31 March 465,738 - 465,738 682,635 - 682,635
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All recognised gains and losses are included in the above statement of financial activities.

All of the charity’s activities derived from continuing operations during the above two periods of report.

38

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024

Balance Sheet

Year to 31 March 2024

Notes
2024
£		 2024
£		 2024 2023
As restated
£		 2023
As restated
£
Fixed assets
Tangible fixed assets
Current assets
Debtors
Short term deposits
Cash at bank and in hand
7
8
-
648,807
497,015
1,018,787		 13,377 762,432
741,217
1,093,300		 18,540
2,164,609
Current liabilities
Creditors:amounts falling due
within one year
9
(1,712,248)
Net current assets		 452,361 2,596,949
(1,932,854)		 664,095
Net assets 465,738 682,635
The funds of the charity:
Unrestricted funds
General funds
14		 465,738
465,738
~~a~~		 682,635
682,635
Restricted funds
14		 - -
Total charity funds 465,738 682,635

The principal accounting policies and notes on pages 39–54 form part of these financial statements.

The Company’s financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf. Chair Date: - 1st July 2024 UKGBC Limited Company Registration Number: 01029239 (England and Wales)

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 39

Statement of Cashflows Year to 31 March 2024

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----- Start of picture text -----
Notes 2024 2023
£ As restated
£
Cash flows from operating activities
Net cash provided by operating activities A (338,747) (182,265)
Cash (used in) investing activities
Interest received 24,692 8,170
Purchase of tangible fixed assets (4,660) (17,262)
Proceeds from the sale of fixed assets - 1,529
Net cash (used in) investing activities 20,032 (7,563)
Change in cash and cash equivalents in the year (318,715) (189,828)
Cash and cash equivalents at 1 April B 1,834,517 2,024,345
Total cash and cash equivalents at 31 March C 1,515,802 1,834,517
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Notes to the statement of cash flows for the year to 31 March

A | Reconciliation of net income to net cash provided by (used in) operating activities

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2024 2023
£ £
Net (expenditure) income (as per the statement of financial activities) (216,817) (402,766)
Adjustments for:
Depreciation charges 9,823 11,504
(Profit) on disposal of fixed assets - (534)
Investment income receivable (24,692) (8,170)
Increase in debtors 113,625 (19,866)
Increase in creditors (181,114) 237,567
Increase in creditors (prior year adjustment) (39,747) -
Net cash (used in) provided by operating activities (338,747) 182,265
B | Analysis of cash and cash equivalent
2024 2023
£ £
Cash at bank and in hand 1,018,787 1,093,300
Short term deposits 497,015 741,217
Total cash and cash equivalents 1,151,802 1,834,517
C | Analysis of changes in cash and deposits
At 31 March At 31 March
Cash flows
2023 £ 2024
£ £
Cash at bank and in hand 1,093,300 (74,513) 1,018,787
Short term deposits 741,217 (244,202) 497,015
Total 1,834,517 (318,715) 1,515,802
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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 40

Principal Accounting Policies Year to 31 March 2024

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

General information

The charity is a company limited by guarantee, incorporated in England and Wales (company number: 01029239) and a charity registered in England and Wales (charity number: 1135153). The charity’s registered office address is: The Building Centre, 26 Store Street, London, WC1E 7BT.

Basis of preparation

These financial statements have been prepared for the year to 31 March 2024 with comparative information provided for the year to 31 March 2023.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS

102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates

and areas of judgement

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the charity’s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management’s best knowledge of the amount, events or actions, actual result ultimately differ from those estimates.

The items in the financial statements where judgements and estimates have been made include:

tangible fixed assets; and

Going concern assessment

Trustees have assessed the impact of external influences on the charities activities, and the adequacy of resources to operate in the current climate over the next financial period.

Based on the current plans, assumptions and forecasts and in line with the reserves policy, the trustees are confident that there are sufficient funds. Additionally, should conditions deteriorate rapidly, there is capacity to cut costs. The trustees believe it is appropriate for the charity to continue to prepare the financial statements on the going concern basis for 12 months from the date of balance sheet signature.

Income recognition

All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably. Amounts received for application in future periods are held on the balance sheet as deferred income and released to the statement of financial activities in the relevant period.

Income from charitable activities

Income from charitable activities is recognised as earned as the related services are provided. Income from other trading activities is recognised as earned as the related goods are provided.

Income received in the year has been deferred in respect of specific events and education courses taking place after the year end.

Memberships fall due for renewal throughout the year membership. Consequently fee income is calendarised so that only the income for the accounting year is recorded and the balance carried as an accrual.

Donated services

Donated services and facilities are included as ‘donations income’ at a value equivalent to the estimated commercial cost that the charity would otherwise have incurred, and under the appropriate expenditure heading depending on the nature of service or facility provided, at the same value and time.

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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 41

Principal Accounting Policies Year to 31 March 2024 Continued

Grants

Grants are recognised in full in the statement of financial activities in the year in which the charity has entitlement to the income, the amount of income receivable can be measured reliably and there is probability of receipt. In the event that a grant or donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities is comprised of the costs associated with the key strategic areas of activity being; improving sustainability, education and raising awareness. Support costs including governance costs are allocated between the various categories of charitable expenditure (see below).

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Allocation of costs

Expenditure allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned based on staff time attributable to each activity.

Staff costs are allocated between direct charitable expenditure and support costs based on the time spent on these activities. Other costs are allocated directly to the relevant heading.

Support costs also include governance costs. This relates to the cost incurred with meeting constitutional and statutory requirements and the costs associated with the strategic management of the charity.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities as incurred.

Tangible fixed assets

Assets costing more than £500 are capitalised. Fixed assets are recognised at cost or deemed cost (donated valuation at estimated fair value) less accumulated depreciation and impairment losses.

Depreciation is calculated to write off the costs of the fixed asset capitalised over their estimated useful economic lives as follows:

Investments

Current asset investments are cash amounts held by the charity with a maturity date of less than one year and held for investment purposes. They are measured at the cash value of the deposit.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 42

Principal Accounting Policies Year to 31 March 2024 Continued

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Funds

Unrestricted funds are income receivable or generated for the objects of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are those funds which are to be used in accordance with specific instructions imposed by the donor or trust deed.

Employee benefits

■ Short term benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

UKGBC operates a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held independently from those of the company in an independently administered fund. The pensions costs charged in the financial statements represent the contributions payable during the year to the funds.

Notes to the Financial Statements

Year to 31 March 2024

1 | Income from donations and legacies

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----- Start of picture text -----
2024 2023
Total as restated
£ £
Donations 2,875 12,083
Services donated 65,247 41,615
Total cash and cash equivalents 68,122 53,698
----- End of picture text -----

Included within donations and legacies are goods and services which have been donated to the charity during the year. This consists of venue hire £34,090 (2023: £13,800) and Consultancy £31,157 (2023: £27,815). All donations and legacies for both years above are in relation to unrestricted funds.

2 | Income from charitable activities

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----- Start of picture text -----
2024 2023
£ as restated
£
Membership income 2,080,232 2,029,581
Partnership Income 694,646 332,642
Grant & contract income 232,588 154,659
Education Course Income 405,021 261,659
Leaders Network Sponsorship Income 20,000 19,995
Total cash and cash equivalents 3,432,487 2,798,536
----- End of picture text -----

Of the amount shown above, £232,588 is in relation to restricted funds (2023: £154,659)

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 43

Notes to the Financial Statements

Year to 31 March 2024 Continued

3 | Expenditure on charitable activities

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----- Start of picture text -----
Direct costs Direct costs Support costs
Other Staff (note 4) 2024
£ £ £ £
Improving sustainability 427,696 1,212,887 529,932 2,170,515
Education 409,216 504,646 220,489 1,134,351
Raising awareness 107,242 229,666 100,345 437,253
944,154 1,947,199 850,766 3,742,119
Of the improving sustainability expenditure noted above, £356,842 is in relation to
restricted funds (2023: £158,476).
Direct costs Direct costs Support costs 2023
Other Staff (note 4) as stated
£ £ £ £
Improving sustainability 370,013 1,168,700 572,321 2,111,034
Education 276,628 297,306 145,593 719,527
Raising awareness 160,220 182,847 89,542 432,609
806,861 1,648,853 807,456 3,263,170
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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 44

Notes to the Financial Statements

Year to 31 March 2024 Continued

4 | Analysis of support costs

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----- Start of picture text -----
Premises IT/Comms Admin staff Governance 2024
£ £ £ £ £
Improving sustainability 99,434 29,373 198,527 202,598 529,932
Education 41,372 12,221 82,601 84,295 220,489
Raising awareness 18,828 5,562 37,592 38,363 100,345
159,634 47,156 318,720 325,256 850,766
Premises IT/Comms Admin staff Governance 2023 as restated
£ £ £ £ £
Improving sustainability 105,685 54,339 200,291 212,006 572,321
Education 26,886 13,823 50,952 53,932 145,593
Raising awareness 16,535 8,502 31,336 33,169 89,542
149,106 76,664 282,579 299,107 807,456
Support costs are divided in the proportion of the direct staff costs of each activity area, thus:
2023 2024
% %
Improving sustainability 71% 62%
Education 18% 26%
Raising awareness 12% 11%
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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 45

Notes to the Financial Statements

Year to 31 March 2024 Continued

5 | Net (expenditure) income for the year. This is stated after charging/crediting:

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----- Start of picture text -----
2024 2023
£ as restated
£
Auditor’s remuneration 13,475 12,575
Depreciation 9,823 11,506
Staff costs 2,638,180 2,325,139
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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 46

Notes to the Financial Statements

Year to 31 March 2024 Continued

6 | Staff costs and remuneration of key management personnel. Staff costs during the year were as follows:

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----- Start of picture text -----
2024 2023 as restated
£ £
Salaries and wages 2,181,301 1,855,065
Social security costs 247,822 215,376
Pension contributions 141,446 119,798
Other employee costs 67,611 134,900
2,638,180 2,325,139
The average number of employees during the year on a headcount basis was as follows:
2024 2023
Number Number
Charitable activities 35 33
Support 8 7
43 40
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47

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024

Notes to the Financial Statements

Year to 31 March 2024 Continued

6 | Staff costs and remuneration of key management personnel (contrinued). Staff costs during the year were as follows:

The number of employees whose emoluments for the year fell within the following bands were:

The number of employees whose emoluments for the year fell within the following bands were:
2024
Number		 2023
Number
£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000
£100,001 - £110,00
£110,001 - £120,000
£200,001 - £210,000		 2
2
0
2
1
1
-		 3
1
1
1
-
-
1
8 7

The Senior Management Team comprises 6 people. These 6 roles are accruing pension contributions totalling £37,502 (2023: 5 employees, accruing £33,190).

The trustees consider that they together with the Executive comprise the key management personnel of the charity. The total remuneration payable to the key management personnel of the charity was £636,188 (2023: £612,016).

Trustees are not remunerated for their services to the charity. However, out of pocket expenses incurred in connection with the execution of their duties as trustees are reimbursed where claimed. No such claims were made in FY2023-24 or FY2022-23.

48

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024

Notes to the Financial Statements

Year to 31 March 2024 Continued

7 | Tangible fixed assets

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----- Start of picture text -----
Leasehold
Office
equipment Computers Refurbishment Total
£ £ £ £
Cost
At 1 April 2023 60,034 68,200 133,343 261,577
Additions 870 3,790 - 4,660
- - - -
Disposals
Balance at 31 March 2024 60,904 71,990 133,343 266,237
Depreciation
At 1 April 2023 60,034 49,660 133,343 243,037
Charge for the year 115 9,708 - 9,823
- - - -
Released on disposal
Balance at 31 March 2024 60,149 59,368 133,343 252,860
Net book value
At 31 March 2024 755 12,622 - 13,377
At 31 March 2023 - 18,540 - 18,540
----- End of picture text -----

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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 49

Notes to the Financial Statements

Year to 31 March 2024 Continued

8 | Debtors

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----- Start of picture text -----
2024 2023 as restated
£ £
Trade debtors 560,813 664,602
Prepayments 82,921 90,354
Other debtors 5,073 7,476
648,807 762,432
9 | Creditors: amounts falling due within one year
2024 2023 as restated
£ £
Trade creditors 167,970 148,402
Other taxation and social security 189,830 198,412
Deferred income (Note 10) 1,251,582 1,479,064
Accruals 102,866 106,976
1,712,248 1,932,854
10 | Analysis of deferred income
2024 2023 as restated
£ £
Deferred income at 1 April 1,479,064 1,221,616
Applied during the year 1,251,582 1,479,064
Released during the year (1,479,064) (1,221,616)
Deferred income at 31 March 1,251,582 1,479,064
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UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024 50

Notes to the Financial Statements

Year to 31 March 2024 Continued

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----- Start of picture text -----
11 | Financial instruments
2024 2023
£ £
Financial assets measured at fair value 2,077,646 2,499,119
Financial liabilities measured at amortised cost (167,970) (148,402)
12 | Operating lease commitments. At the balance sheet date, the charity’s total future commitments under non-cancellable operating leases are as follows.
Equipment Land and buildings
2024 2023 2024 2023
£ £ £ £
Leases which expire:
Within one year 1,978 9,668 30,282 29,400
Within two to five years 1,159 10,643 - -
3,137 20,311 30,282 29,400
----- End of picture text -----

Since the balance sheet date, UKGBC has committed to a one year building lease, a commitment of £124,000.

51

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024

Notes to the Financial Statements

Year to 31 March 2024 Continued

13 | Analysis of group net assets between funds

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----- Start of picture text -----
Restricted funds General funds Total funds
£ £ 2024 £
Fixed assets - 13,377 13,377
Current assets - 2,164,609 2,164,609
Current liabilities - (1,712,248) (1,712,248)
Net assets at 31 March 2024 - 465,738 465,738
Restricted Unrestricted Total funds
funds funds as restated
£ £ 2023 £
Fixed assets - 18,540 18,540
Current assets 99,919 2,497,030 2,596,949
Current liabilities (99,919) (1,832,935) (1,932,854)
Net assets at 31 March 2024 - 682,635 682,635
----- End of picture text -----

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52

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024

Notes to the Financial Statements Year to 31 March 2024 Continued

14 | Analysis of funds

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----- Start of picture text -----
Balance at
1 April as 31 March
restated 2023 Income Expenditure Transfers 2024
£ £ £ £ £
Unrestricted funds
General funds 682,635 3,292,713 (3,385,356) (124,254) 465,738
- - - - -
Restricted funds
Circuit - 29,563 (29,563) - -
Local Area Retrofit Accelerator - 56,000 (95,690) 39,690 -
WLCR - 34,330 (37,763) 3,433 -
Building Life II - 97,287 (154,379) 57,092 -
Co-created Outputs - 15,408 (39,447) 24,039 -
Restricted Funds Total - 232,588 (356,842) 124,254 -
Charity total 682,635 3,525,301 (3,742,198) - 465,738
----- End of picture text -----

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53

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024

Notes to the Financial Statements Year to 31 March 2024 Continued

14 | Analysis of funds (continued)

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----- Start of picture text -----
Balance at
Balance at Prior year 1 April 2022 31 March 2023
1 April 2022 adjustment as restated Income Expenditure as restated
£ £ £ £ £ £
Unrestricted funds
General funds 1,121,076 (39,492) 1,081,584 2,705,745 (3,104,694) 682,635
- - - - - -
Restricted funds
ANZ - - 101,867 (101,867) -
Circuit - - 21,247 (21,247) -
Climate KIC – Accelerator - - 35,000 (35,000) -
Ignition 3,817 - 3,817 (3,455) (362) -
Restricted Funds Total 3,817 - 3,817 154,659 (158,476) -
Charity total 1,124,893 (39,492) 1,085,401 2,860,404 (3,263,170) 682,635
----- End of picture text -----

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54

UKGBC TRUSTEES REPORT AND FINANCIAL STATEMENTS 2023-2024

14 Analysis of funds Continued

Restricted funds

Advancing Net Zero (ANZ)

This relates to funding secured from Redevco Foundation for a project about galvanising the industry and policy makers to deliver a net zero carbon built environment, through industry leadership and strong regulation.

CIRCuIT – Circular Economy

Circular Construction in Regenerative Cities - is a collaborative project involving 29 partners across the entire built environment chain in Copenhagen, Hamburg, Helsinki Region and Greater London. Funded by the European Commission’s Horizon 2020 programme, the project will support the creation of regenerative cities by implementing sustainable and circular construction practices. UKGBC forms part of the Greater London cluster and has secured 4 years worth of funding. Through this project we can start to bridge the gap between theory, practice and policy by delivering a series of demonstrations, case studies, events and other dissemination activities that showcase how circular construction approaches can be scaled and replicated across Europe to enable cities to build more sustainably and transition to a circular economy on a wider scale.

Local Area Retrofit Accelerator MCS Foundation fund the initiative which promotes retrofit at a local level. The approach ranges form fostering collaboration of local authorities to the provision of guidance to enable the creation of resource hubs for proactive homeowners with the ability to pay.

EU’s Urban Innovation Actions (UIA) Initiative – IGNITION

This relates to funding UKGBC secured from the UIA to join the IGNITION project alongside 11 other partners from local government, universities, NGOs and business. The aim is to develop the first model of its kind that enables major investment in large-scale environmental projects which can increase climate resilience. By 2038 this will enable an increase in Greater Manchester’s urban green infrastructure coverage by 10% from a 2018 baseline.

Co-created Outputs: Project Delivery Funding from the Laudes Foundation is allowing UKGBC to design a series of standardised processes and project management templates and embedding these into the organisation through documentation and training.

Building Life 2

This relates to funding secured from Laudes Foundation and Ikea Foundation for a project as part of a consortium of Green Building Councils from across Europe. The UK project will deliver a whole life carbon roadmap for the built environment, in collaboration with industry and government.

15 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purpose.

16 Related party transactions

There were no outstanding balances with related parties as at 31 March 2024 (2023: £nil). The total amount of donations received from trustees in the year was £nil (2023: £nil).

17 Prior year adjustment

An adjustment has been made to the financial statements to adjust an earlier year (2020-2021) misstatement of deferred membership income.The adjustment has had the effect of reducing carried forward funds by £39,492.