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Taylor Wimpey Will Be to Emerge from This Challenging Market in a Position of Strength

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Taylor Wimpey Will Be to Emerge from This Challenging Market in a Position of Strength Chairman and Chief Executive’s foreword We are delighted to introduce our second Corporate Responsibility Report as Taylor Wimpey plc. We continue to regard corporate responsibility as a fundamental part of good corporate governance and an important aspect of long term business success. We remain committed to being a responsible housebuilder and to reporting annually on our progress in this area. Norman Askew Pete Redfern Chairman Group Chief Executive Contents Our Responsible 01 CR Committee The way we work Chairman’s foreword Approach 24 Employees 02 Business overview 27 Health, safety and Key case studies from across the 03 2008 highlights Group demonstrating our unique environmental management approach to corporate responsibility 04 Our approach 32 Supply chain management Campbell Park, Milton Keynes page 19 Raploch, Stirling Our homes and More on-line page 20 communities www.taylorwimpey.com Mar Bella, 07 Supporting local communities Our Web site contains further Texas 09 Better by design information about the Group page 21 and our policies as well as 11 Environmental sustainability links to our customer Web sites. Evergreen, 15 Enhancing economic growth Toronto page 22 17 Customer care CR Committee Chairman’s foreword Corporate responsibility is about managing our business to make positive social, environmental and economic contributions to the regions in which we operate. Like many industries, housebuilding has been deeply affected by the current world financial situation. We have a responsibility to our investors, employees, customers and business partners to weather the economic storm and ensure that the Company is in a strong position when the situation improves. Corporate responsibility provides benefits to society, the environment and local Our excellent track record economies. It also makes an important contribution to our business success. helps us in many ways, It helps us to manage our business effectively, reduce business risk and identify from winning competitive opportunities for development. Our excellent track record helps us in many tenders to building ways, from winning competitive tenders to building communities that appeal “communities that appeal to potential customers. to potential customers. This report demonstrates the range of our achievements in 2008. We are particularly proud of the design, innovation and sustainability awards won for our Oxley Woods development. We also deepened our understanding of building sustainable homes and communities in 2008, putting us in a strong position to respond to future demand. In 2009, we will focus on aspects of corporate responsibility that make sound commercial sense for our business. We will also continue to maintain our extremely high standards of health, safety and environmental management. Katherine Innes Ker Non Executive Director (Committee Chairman) Taylor Wimpey plc Corporate Responsibility Report 2008 1 Business overview A focused homebuilder UK Housing Overview Taylor Wimpey is one of the We build a wide range of We operate two core brands largest homebuilders in the homes in the UK, from one in the UK, Bryant Homes and UK with national coverage bed apartments to five George Wimpey. bedroom houses, with prices from 23 regional offices and During the current market ranging from below £100,000 weakness we are focused TW City specialist projects. to above £500,000. on pricing competitively in We also build affordable each local market, cash housing across the UK, management and cost control. which represented 21% Regional office of our 2008 completions. Completions Average outlets Average selling price 13,394 472 £171k North America Housing Overview Taylor Wimpey is a top 10 Our homes in North America In the United States we sell homes homebuilder in the United range from high-rise apartments under the Taylor Morrison brand. States and also operates in Toronto to full service country We also have a land development in Ontario, Canada. club homes in Florida and from business which sells lots to other entry level to luxury homes. homebuilders using the Taylor Woodrow Communities brand. Average selling prices range from £122,000 in Arizona to Our business in Canada trades Areas of operation £223,000 in California. under the Monarch brand. Completions Average outlets Average selling price 5,421 234 £175k Spain & Gibraltar Overview Taylor Wimpey operates Our business in Spain is primarily Our operations in both Spain in three regions in Spain focused on developing sites in and Gibraltar are branded and also in Gibraltar. popular locations. Taylor Woodrow. We announced during 2008 that we are planning to exit our Gibraltar business, which operates in the luxury apartment market. Regional office Completions Average outlets Average selling price 214 20 £270k Other operations We have exited our We completed the sale of the The UK operations employed construction activities UK business of Taylor Woodrow approximately 1,500 people in line with the strategy Construction on 9 September during 2008, with over 2008 and the sale of our 1,000 people employed in of focusing on our core construction businesses the Ghanaian operations homebuilding operations. in Ghana on 21 April 2009. during 2008. 2 www.taylorwimpey.com 2008 highlights Best architect-designed Building Disney’s home houses in the UK of the future Our Oxley Woods development won yet more prestigious Taylor Morrison’s Innoventions Dream Home opened accolades. We received a Housing Design Award, a RIBA to the public at Disneyland Southern California in 2008. award and the Manser Medal for the best architect- We expect around 17,000 individuals to visit our designed houses in the UK. technological home of the future each day. Energy-efficient homes EcoHomes award winner reduce carbon emissions A recent Taylor Wimpey study showed that our standard Glasdir in Ruthin, Denbighshire won the BREEAM homes can use 55% less energy, save 65% in heating, EcoHomes 2008 award for Wales and is the first lighting and hot water bills, and generate 72% less carbon development in Wales to be built to the EcoHomes dioxide emissions than an older home. Excellent standard. Awards for our best High levels of site managers employee commitment We won 51 Quality Awards, 10 Seals of Excellence Taylor Morrison scored in the top 10% or top 1% of and two coveted Regional Awards in the NHBC Pride North American companies for each of our four key in the Job Awards 2008. areas of employee satisfaction. Safety remains a top priority 50 years of building homes in Spain We implemented a major new behavioural safety Taylor Woodrow de España celebrated the Company’s campaign in the UK and a comprehensive new health 50th year of building homes in Spain. The Company and safety programme for all North American Divisions. has built around 4,000 homes in the Balearics and in mainland Spain since 1958. Taylor Wimpey plc Corporate Responsibility Report 2008 3 Our approach Corporate responsibility is a fundamental part of good governance. The current economic climate has made 2008 an exceptionally difficult year Corporate Responsibility Committee for housebuilders. Our highest corporate priority is the long term financial Katherine Innes Ker Baroness Dean of sustainability of the Company and we continue to believe that both the UK Non Executive Thornton-le-Fylde and North American housing markets remain attractive in the medium and long Director Non Executive term. For the moment, our most pressing corporate responsibility is our duty to (Committee Director those individuals and groups who may be affected by the impact of the economic Chairman) Andrew Dougal Pete Redfern Non Executive downturn on our business. These groups include our investors, employees, Group Chief Director customers and business partners including suppliers and sub-contractors. Executive Norman Askew This Corporate Responsibility Report, which covers the period from 1 January Chairman to 31 December 2008, demonstrates that we continue to take our environmental and social responsibilities extremely seriously. High standards of corporate governance remain essential and the Board considers that we have continued to comply with all the provisions of the Combined Code on Corporate Governance during 2008. Operationally, health and safety continues to be a non-negotiable top priority for us in all regions in which we operate. We also continue to build our homes and communities reliably and conscientiously. Corporate responsibility management We have a duty to take social, environmental, ethical and economic factors into account when conducting our business and to play our part in tackling global imperatives such as sustainable development and climate change. Our Board-level Corporate Responsibility Committee continues to meet at least three times a year and is responsible for recommending the Company’s corporate responsibility strategy, policies, reporting and performance monitoring to the plc Board. The Committee is made up of Independent Non Executive and Executive Directors. The Committee’s remit includes highlighting significant environmental, social and ethical risks and opportunities for the attention of the plc Board. Our UK business also has a Sustainability Working Group chaired by our Land and Planning Director and including Directors from a range of disciplines. In 2009, the Group will develop recommendations based on a risk and opportunity-focused We continue to take approach to corporate responsibility. our environmental and Reporting approach social responsibilities This report
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