Carbon neutral
We contributed zero net carbon into the atmosphere from our Scope 1 and 2 activities.
It is now widely accepted that climate change is happening and is probably due to the emissions of greenhouse gases, primarily carbon dioxide, resulting from human activities.
Reducing our carbon footprint is an important part of our efforts to lead the market in developing and managing buildings in a sustainable manner.
We work in partnership with our suppliers and occupiers to achieve our carbon neutral strategy:
- Measuring our carbon footprint
- Reducing energy use
- Developing sustainable buildings
- Increasing the use of low-carbon and zero-carbon energy
- We offset our remaining Scope 1 and 2 carbon emissions.
Scope 1:
- Fuel use from company-owned vehicles in the UK and Continental Europe
- Refrigerant loss from our managed portfolio in the UK.
- Gas use in space occupied by us and our subsidiaries in the UK and Continental Europe.
- Gas use in the common parts of our managed portfolio in the UK and Continental Europe.
Scope 2:
- Electricity use in space occupied by us and our subsidiaries in the UK and Continental Europe
- Electricity use in the common parts of our managed portfolio in the UK and Continental Europe.
Being carbon neutral helps us to minimise our impact on climate change, whilst managing a significant economic, environmental and social risk. By reducing our use of resources we are future-proofing our portfolio, given increasingly demanding legislation, growing interest from stakeholders, rising energy prices and mounting concerns about energy security. We are also preparing for the potential impacts of a more carbon-constrained economy on us and our occupiers, with the cost of carbon likely to increase.
We use the term 'carbon' to refer to all of our Scope 1 and 2 greenhouse gas emissions. These include carbon dioxide equivalent emissions, where we convert other gases to the equivalent global warming potential of carbon dioxide.
We work with our environmental consultants, Arup, to monitor and manage our carbon emissions. We are committed to offsetting all of the carbon emissions from our Scope 1 and 2 activities, across our entire managed portfolio, and aim to achieve the highest standards of accuracy. We will continue to work with environmental experts and our managing agents to ensure that our carbon data is accurate and comprehensive.
From 2020, we plan to become carbon neutral in all areas of our buildings, including occupier controlled parts.
Our carbon neutral commitment excludes emissions associated with:
- Climate Change Levy exempt electricity sources. These include combined heat and power schemes and renewable source power.
- Our construction activities, as these are covered by the Scope 1 and 2 activities of our building contractors.
- Occupier parts of our portfolio, as these are covered by the Scope 1 and 2 activities of our occupiers.
- The operations of any buildings managed for third parties where we do not have an ownership interest, as these are covered by the Scope 1 and 2 activities of the owners.
