Modern Slavery Policy Statement
1 Policy Statement
1.1 This statement is made pursuant to section 54 of the Modern Slavery Act 2015 (the Act) and sets out the steps The Housing Finance Corporation Limited (“THFC”) has taken to ensure that slavery and human trafficking is not taking place in our supply chains or in any other part of our business.
1.2 The Board approved this statement for and on behalf of THFC in November 2023. This statement covers the activities of the following subsidiaries within the THFC group: Affordable Housing Finance plc, and also the following related companies: Haven Funding plc, Haven Funding (32) plc, Sunderland (SHG) Finance plc, Harbour Funding plc, T.H.F.C (Funding No.1) plc, T.H.F.C (Funding no.2) plc, T.H.F.C (Funding No.3) plc. This statement relates to the period of the financial year from 1 April 2023 to 31 March 2024.
1.3 The principal objective of THFC is to lend money to housing associations in the UK funded through the issue of bonds and raising bank loans. It has established a number of wholly owned subsidiaries to cater for the varying interests of stockholders and bank lenders in different forms of financial instrument. THFC works to the highest professional standards and complies with all laws, regulations and rules relevant to our business and we expect the same from our suppliers and business partners.
1.4 The majority of THFC’s supply chain comprises of UK or EU based banks, professional firms or blue-chip companies. In the last year we have continued with our organisational- wide risk assessment to assess the nature and extent of our exposure to Modern Slavery. We have concluded that our risk is low however we undertake due diligence proportionate to this risk. We ask all our suppliers to provide us with their published Modern Slavery Statements as evidence of their commitment to eradicate this violation of human rights. Smaller suppliers, who are not required to maintain a statement by law, are asked to demonstrate their commitment to our own policy. Training on modern slavery forms part of the induction process for all individuals who work for us.
1.5 We have intrinsic core values around equality, diversity and inclusion and corporate responsibility. In addition to our Modern Slavery Policy, we have a Whistleblowing Policy which employees can utilise if they have concerns about any wrongdoing or breaches of the law or regulations.
1.6 Over the next 12 months we will be: monitoring and updating our risk assessment and associated reporting where appropriate, continuing to require all new suppliers and those whose contracts have come up for renewal to enter into a commitment to ensure compliance with the relevant rules and regulations, continuing with and reviewing the training programme for all new joiners and policy review programme, and continuing to take action to embed a zero tolerance policy towards modern slavery.
1.7 This statement has been formally approved by the directors of The Housing Finance Corporation Limited and signed on their behalf.
Approved by the Board on 14 November 2023
Signed on its behalf by:
Previous versions of the Modern Slavery Statements can be found in the following links: