Super-prime construction leaders team up to build a ‘better business’ ESG framework

PRIME is a new framework and scoring mechanism, intended to help small businesses develop and refine their environmental, community and governance credentials.

Some of the top names in London’s luxury construction sector have teamed-up to help small businesses develop and refine their environmental, community and governance credentials.

A simple ESG framework and scoring mechanism has been created, with six “PRIME Principles” intended as a starting point for companies looking to improve their sustainability and social standing.

PRIME Principles via weareprime.org
1. Being Environmentally Better
  • Responsible Consumption: Only buying what your organisation actually needs; opting for reduced packaging and eliminating wastage.
  • Waste Reduction / Recycling: Reducing waste sent to landfill, reusing and recycling materials and packaging wherever possible.
2. Embracing Sustainable Innovation
  • Sustainable Sourcing: Choosing what you buy, and where you buy it from; preferring sustainable alternatives (like renewable energy) and locally-sourced produce.
  • Welcoming Change: Recognising that the ‘old ways’ aren’t always the best and striving to embrace modern and efficient ways and means.
3. Spreading the Word
  • Promoting Change: Both inside your organisation, and beyond. Recognising that, together, we can all achieve so much more.
  • Working Together: Creating a culture of sustainable practice within your organisation and sharing best practices and collaborating outside of it.
4. Delivering Impact
  • Leading by Example: By this, we mean ‘walking the walk’. Looking beyond your organisation, leading from the front and celebrating others’ successes.
  • Striving for More: Looking beyond your immediate intents and results to effect a sustainable and longer-term impact through your organisation.
5. Making a Difference
  • Championing & Valuing Diversity: Building a culture of equal treatment, diverse and varied perspectives and, most importantly, equal opportunity for all within your organisation and your sector.
  • Supporting Charities & Local Communities: Delivering a local impact through your organisation’s initiatives, donations and operations.
  • Acting Ethically and with Integrity: Competing fairly, marketing honestly and paying your supply chain promptly. We can all make a bigger difference from a level playing field.
6. Being Accountable
  • Transparency & Publishing Performance: Engaging with the PRIME Principles and sharing the details of your PRIME journey to help inspire others and demonstrate your ongoing commitment.
  • Learning & Asking for Help: The PRIME Principles don’t provide a ‘set-and-forget’ solution for sustainable and responsible business. Learn from your mistakes, and don’t be too proud to ask for help.

Each of these six principles is scored out of five (1 = “I aspire to do something about this”; 5 = “This this pervasive in our business culture”), giving a maximum possible score of 30; anything above 20 is considered “exemplary”.

Early-adopters include Ideaworks, Walton Wagner, Slender Winter Partnership, DOS & Co, Weldon Flooring, and Winch Design. It’s being supported by The Luxury Property Forum and has the wholesale approval of PrimeResi.

“Unlike an ISO (or similar) accreditation, this is not a tick-box exercise (there is no greenwashing here), but a working, iterative process of continuous improvement to ensure that we can all operate better businesses that are ‘sustainable’ in the truest sense of the word,” explains Chris Jones, Managing Director of Ideaworks and co-founder of PRIME. “This means supporting our planet, our community and operating best business practice with integrity.”

Set up by a small group of super-prime insiders, PRIME is a not-for-profit social enterprise with grand ambitions. The venture has started within the luxury building industry, but the founders aim to build it beyond their own sector.

“It is hoped that, before too long, we will see the big main contractors and the land-owning estates embracing PRIME as part of their own CSR initiatives – PRIME is accessible, low-cost and challenging – by requiring leaseholders to engage with contractors who have high PRIME scores, the opportunity to drive huge, sustainable change through the construction sector is unparalleled” says Will Bouma of Weldon Flooring, a PRIME co-founder.

The PRIME Principles and PRIME Scoring method are open to anyone to use as a business management tool, but an official PRIME Score, which is moderated, costs £1,250+VAT per year.

Visit weareprime.org for more info, or contact  [email protected]