The latest regulatory judgement from the Regulator of Social Housing - published today - sees GreenSquare regain its G1 rating.
The regulator's previous judgement, in June 2019, had concluded that although GreenSquare met the requirements on governance set out in the Governance and Financial Viability Standard, it needed to improve some aspects of its governance arrangements to support continued compliance; this resulted in a G2 rating at that time.
The new judgement notes that: "GreenSquare has enhanced the skills mix of its board and improved the quality of board reporting. This has facilitated improved oversight of health and safety compliance.
"It has also implemented recommendations from an independent review of governance, revising its risk management framework and strengthening its approach to managing and monitoring risks."
Welcoming the new judgement, GreenSquare's chief executive Ruth Cooke says: "We absolutely accepted the need for change that the previous regulatory judgement highlighted last year. Even before it was published, we had been focused on doing all that was necessary to ensure full legal compliance and, critically, the health and safety of our customers and colleagues.
"This new assessment by the regulator is testament to the efforts of all those involved in ensuring the successful delivery of the far-reaching improvement plan that we agreed with the regulator last year."
Robin Bailey, chair of the GreenSquare board, says: "I am really proud of what's been achieved at GreenSquare over the past year or so – and this judgement acknowledges that achievement.
"We have made significant improvements to a range of key internal systems and processes around risk management and board and committee reporting. And we have made some excellent new appointments to our board and executive.
"This has not only addressed the issues highlighted last year but also given us an exceptionally strong platform from which to deliver our ambitious customer-focused corporate plan."