British Land is pleased to announce it has regained its GRESB 5 star rating in GRESB’s annual sustainability assessment, placing us in the top 20% of global participants. We achieved an overall score of 85, placing us 15 points above the average and retained our Green Star rating for the eleventh consecutive year. We scored more than 98% in several key areas including Policies, Reporting, Risk management and Stakeholder Engagement.
This year, we were also pleased to achieve a 5 star rating in Development, the first time GRESB has distinguished performance in this area. This reflects our strong track record of delivering sustainable buildings with embodied carbon at two of our most significant developments, 100 Liverpool Street and 1 Triton Square both already below 500 kg CO2e per m2, the target we have committed to as part of our 2030 Sustainability Strategy.
We have also now committed to Norton Folgate, a 336,000 sq ft development in Shoreditch, adjacent to our Broadgate campus. Again, we have prioritised the re-use of existing structures and materials and as a result embodied carbon on this development is low at 540 kg CO2e per m2. We are also designing to a high standard of operational efficiency, with a base build target of 80 kWheq per m2, which compares well to UKGBC energy performance targets for 2020-2025 of 90 kWheq per m2 and is in line with our own 2030 pathway.
These developments are excellent examples of our expertise in designing and delivering more sustainable space which is aligned to the needs of our customers and their people and demonstrates strong progress on our 2030 Sustainability Strategy set out in May 2020.
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| Investors & Analysts: | |
| David Walker | 07753 928 382 |
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| Charlotte Whitley | 07887 802 535 |
Notes to Editors
About GRESB
GRESB is a mission-driven and investor-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to the capital markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world.
In 2020 alone, more than 1,200 real estate portfolios reported to GRESB covering more than 96,000 assets. Our coverage for infrastructure includes more than 540 infrastructure portfolios and assets. Combined, the reported assets represent US $5.3 trillion AUM.
The data is used by more than 100 institutional and financial investors to monitor investments across portfolios and navigate the strategic choices needed for the industry to transition to a more sustainable future. Learn more at GRESB.com.
About British Land
Our portfolio of high quality UK commercial property is focused on London Offices and Retail around the UK. We own or manage a portfolio valued at £13.7bn (British Land share: £10.3bn) as at 30 September 2020 making us one of Europe’s largest listed real estate investment companies.
Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles - Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.
Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 65% of our portfolio. Our Retail portfolio is focused on retail parks and shopping centres, and accounts for 31% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 53 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.
Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. In April 2016 British Land received the Queen's Award for Enterprise: Sustainable Development, the UK's highest accolade for business success for economic, social and environmental achievements over a period of five years.
Further details can be found on the British Land website at www.britishland.com.