Since the UK first went into lockdown in March, we have invested £1.5 billion into the UK’s towns and cities, creating more 30,000 jobs over the long term and supporting a regional economic bounce back. By investing money from pension funds into badly-needed real assets, including innovation districts, clean energy infrastructure and urban transformation projects, we are working to accelerate the country’s recovery from the pandemic.
Despite uncertainty caused by Covid-19, we have continued to tackle the country’s chronic undersupply of housing and since March we have secured planning permission to build around 6,000 homes through our later-living, build-to-rent, modular housing and build-to-sell businesses. We’ve also backed the creation of thousands of new affordable homes through long-term debt financing and our affordable housing business. And we’ve committed to make all of our new housing operationally net zero carbon-enabled by 2030.
The recent investments bring our support for a ‘levelling-up’ of the UK’s towns and cities to more £26 billion. A particular focus of our efforts is to create meaningful social and environmental impacts. Through our investments in later-living housing, for example, we have created around £4.3 million of savings for the NHS each year, while freeing up thousands of hospital beds.