The Time is Now

We are integrating climate resilience across our business

Integrate measures

Address the transitional risk of climate change and implement net zero carbon plans at each asset

Working with our customers, we are implementing our net zero carbon roadmap whilst prioritising energy efficiency and energy security.

We are ensuring that all major refurbishments and developments are fossil fuel free¹, whilst transitioning our existing portfolio away from fossil fuel reliant systems. We will work with our customers to find alternatives to fossil fuel powered life-safety back up systems.

By implementing NABERS UK and the Carbon Risk Real Estate Monitor Tool (CRREM) we will be able to drive improvements and monitor our
progress.

For new acquisitions we will undertake net zero carbon due diligence to create an appropriate asset level transition plan.

We will provide a comprehensive disclosure on climate risk annually.

1. Where planning allows

Integrate climate adaptation and resilience measures into our buildings

We will include climate risk and opportunity in asset business plans. By installing external green walls, living roofs, trees and terrace planting to support passive cooling, we will increase biodiversity net gain across our portfolio by a minimum of 3% annually.

We are investing in sustainable drainage features such as rain gardens and blue roofs to manage surface water run off during storm events.

To improve longevity and adaptability we are designing our buildings to reduce the need for demolition, creating adaptable spaces with materials passports to encourage the dismantling of our buildings at the end of their life.

Work with our supply chain partners to improve the resilience of our supply chain

Working with our supply chain partners, we are improving transparency in our supply chain, ensuring that materials are sourced ethically with climate and nature-related impact in mind.

We will work with our partners to consider the impact of extreme weather events on our supply chain and collaborate to improve resilience and reduce business risk.

Support the climate resilience of our communities

Through our developments we are creating public realm spaces with embedded nature-based solutions where space allows.

Through our Social Impact Strategy, we are supporting organisations that work to address climate change-related inequalities in our local communities, such as fuel poverty and access to green spaces, in addition to promoting organisations that look to develop green skills (see our Social Impact Strategy for more).

We will continue to support increased biodiversity in our London boroughs by working with organisations that maintain pocket parks and green spaces which reduce the urban heat island effect and support improved air quality.

We are decarbonising our business to become net zero by 2030

Reduce our carbon intensity

Reduce energy intensity by 40% across our occupied portfolio by 2030

By working with our customers to improve energy efficiency, we will continue to target a reduction in energy intensity across our portfolio by 40% by 2030, from our 2016 baseline. The use of NABERS UK across our developments and existing buildings, combined with the use of the latest technology to monitor and manage energy will support the energy efficient operation of our buildings. Nature-based solutions will be used to support passive solar shading where appropriate to the asset.

Reduce our carbon intensity by 69% across our occupied portfolio by 2030.

We will continue to target a reduction in carbon intensity across our portfolio by 69% by 2030 from our 2016 baseline.

It is likely that this target will be met well ahead of 2030 due to decarbonisation of the grid. By retrofitting renewable energy solutions and through the removal of fossil fuel powered hot water and heating systems, we will continue to focus on decarbonising our business. We will use our decarbonisation fund to increase the pace of change.

We will continue to source 100% of purchased electricity and gas on zero carbon tariffs.

Reduce our embodied carbon by 40% by 2030 across our new build developments and major refurbishments.

We have made good progress reducing the embodied carbon of our new build developments and major refurbishments. We will continue to target a reduction of 40% by 2030 (from our 2020 baseline). We will do this by using the latest technology and alternative materials, applying considered design, and using efficient construction techniques and circular economy principles.

We will monitor and reduce the embodied carbon of our fit outs to reduce emissions associated with the creation of our fitted and fully managed spaces.

Become a net zero carbon business by 2030, offsetting residual carbon only once preceding measures have been addressed

We will disclose our annual progress against our net zero carbon roadmap and plot an energy intensity reduction trajectory for each building.

We will offset residual carbon once all other measures have been addressed and provide transparency on the quantity and type of offsets chosen.

We are putting health and wellbeing front and centre

External air quality

Integrate wellbeing considerations into the design of our spaces

We are integrating wellbeing measures to create flexible, inclusive and accessible spaces that benefit the wellbeing of our customers and the community.

Where practical, we create outdoor space to provide opportunity for social interaction, access to nature and increase biodiversity net gain.

Support improved external air quality across our portfolio and communities

In partnership with our supply chain and customers we are seeking to improve air quality.

During construction, careful consideration is given to logistics strategies, minimising traffic movements and the selection of construction plant and equipment.

When buildings are in use, we will work with our customers and external partners to review opportunities for consolidation of deliveries. By working together, and by investing in local community spaces we will help mitigate any negative impact on external air quality and look to improve it where possible.

Manage and monitor indoor air quality for the health and wellbeing of our customers

Through proactive design, management and maintenance of our building systems we will ensure good internal air quality for our customers.

Our air quality sensors will monitor performance, allowing us to provide information to our customers.

During the fit out process we will maximise access to natural light, create inclusive amenity spaces and prioritise repurposing of furniture whilst specifying fixtures and fittings with low VOC content.

Promote initiatives to support the health and wellbeing of our people, customers and supply chain partners

We continue to promote health and wellbeing programmes for our stakeholders:

– In our buildings by facilitating regular health and wellbeing events for our customers, retrofitting cycle storage facilities where possible and by providing access to staircases to promote increased physical activity

– Through our Health and Wellbeing Impact Group for our employees

– By championing mental and physical health initiatives through our supply chain and

– By working with community organisations that promote and maintain access to local green spaces to support improved health and wellbeing.

We are creating a lasting positive social impact in our communities

Supporting charities

Create at least £10 million of social value in our local communities by 2030 and improve access to nature

Through the continued implementation of our Social Impact Strategy and by maintaining long-term community relationships, we will create at least £10 million of social value by 2030 and disclose our progress against this target annually.

Recognising the positive impact of nature on the climate resilience of our London boroughs and the health and wellbeing of our local communities, we are prioritising access to nature for our communities, customers, supply chain and employees.

Support charitable and non-profit organisations that challenge inequality, and tackle health and wellbeing

We are supporting improved social mobility through relationships with charitable and non-profit organisations focused on improving the quality of life for disadvantaged Londoners.

Through our support of organisations working to alleviate fuel poverty and improved climate resilience we will continue to prioritise a just transition for our local communities to a low carbon economy.

Champion diverse skills and accessible employment opportunities

The built environment sector offers diverse and rewarding career paths. We are supporting programmes that open doors for under represented groups from our community to encourage a more diverse workforce for the future. This includes apprenticeships and employability programmes.

Working with our supply chain partners we will ensure that those working at our buildings and developments earn the London Living Wage.

We will use our Supplier Code of Conduct to improve understanding of our responsible business practices across our supply chain.

Support the growth of local business and social enterprise

We will evaluate the broader social and environmental impacts in our procurement of products and services.

Through this process we are identifying micro, small and medium local businesses and social enterprises that we can support through our spaces.

We will report on our progress as we increase annual spend with social enterprises and local businesses.

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