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Net Positive for Carbon means emissions avoided exceed emissions generated. We have achieved significant reductions in carbon emissions over the last 5 years, driven by ambitious targets and clear expectations for colleagues across the business.

Reducing carbon emissions is fundamental to combatting climate change and central to our Positive Places strategy. We set annual carbon reduction targets for our assets that support operational efficiency and reduce exposure to rising energy costs. We set embodied and operational carbon emissions targets for our developments to ensure new buildings we deliver will be fit for a net zero carbon economy.

Performance against short term targets

Over the last 5 years we have:

  • Invested £9m in energy efficiency and renewables
  • Relamped with 15,000 LED lights
  • Implemented smart meters across 11 assets
  • Improved energy efficiency standards of fit outs for 100s of retail units
  • Replaced 2500 tonnes of cement with recycled, low carbon content
  • Installed 50+ electric vehicle charging stations across our assets

Stats panel

- 72 %

Reduction in carbon
emissions v 2015 baselines

22000

Tonnes carbon emissions
avoided in 2020 v 2015

- 29 %

Year on year reduction in
carbon emissions

- 60 %

Reduction in carbon
intensity

Our progress

Our long term target is for our business to operate on a Net Positive basis for Scope 1 and 2 operational and embodied carbon emissions and for Scope 3 emissions from tenanted areas of our assets. Our approach to achieving this starts with reducing energy demand through good management and investment in energy efficient technology and on-site renewables. We are also working with our stakeholders to support them in reducing their emissions to make additional savings across our portfolio. This has driven excellent outcomes since we launched our Net Positive targets in 2016.

As signatories to the Better Buildings Partnership Climate Commitment, we published our Net Zero Carbon Transition Pathway in 2020. This supports our Net Positive carbon target and includes the same scope of emissions.

Our Net Zero Carbon Transition Pathway

As signatories to the Better Buildings Partnership Climate Commitment, we published our Net Zero Carbon Transition Pathway in 2020. This supports our Net Positive carbon target and includes the same scope of emissions. 

carbon

Our Net Positive Commitment: Carbon

Created in 2017 to outline activities targeted at reducing carbon across the group
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Sustainability Report 2021 (PDF)
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