At Landsec, we’re committed to being a purpose-led, sustainable business, listening to and responding to the needs of all our stakeholders.
We strive to consider environmental, social and governance (ESG) issues in all our decisions focusing our actions on the areas where we know we can have the biggest impact. To us this is simply the right way to run our business.
Sustainable places. Connecting Communities. Realising potential.
Our purpose encompasses a set of principles we live by in our business decisions and our desire to create great experiences for people, now and in the future. We create places that make a lasting positive contribution to our communities and our planet. We bring people together, forming connections with each other and the spaces we create. And we provide our customers, partners and people with a platform to realise their full potential.
Our priority is to ensure we are sustained as a strong and admired company.
"In the face of the considerable near term impact of Covid-19, it can be easy to lose sight of the very significant threat posed by climate change. Landsec has always been a sector leader in this space - we were the first real estate company in the world to commit to science-based reduction targets for CO2 and we built on that in 2019 by committing to become net zero carbon by 2030 – and I am determined that we continue to build on this leadership position in the years ahead."
Our approach and priorities
From climate change and its impact on the built environment to high levels of unemployment and inequality in some local communities, the challenges we face are numerous and complex. To address these challenges, our sustainability programme is split into three core areas:
|Creating jobs and opportunities||Efficient use of natural resources||Sustainable design and innovation|
|This not only strengthens the communities in which we operate, it also helps us to attract great people to Landsec and build a strong workforce for the future.||We not only minimise our impact on the environment, but we also improve our resilience as a business and lower our costs.||Making our spaces more efficient, developing in a sustainable way, and always looking for new and better ways of doing things help us deliver the very best experiences for our customers.|
We have clear and stretching commitments in these three areas and we’re working hard to embed sustainability across the business. We consider the long- and short-term implications of our asset decisions, from buying to developing, managing or selling assets.
Our net zero carbon strategy
As a leader in our sector, we’ve committed to becoming a net zero carbon company by 2030. In line with our ambitious science-based target, our net zero strategy involves the following 5 actions:
1. Reducing the carbon emissions in our operational portfolio
2. Procuring 100% renewable electricity and increasing the amount of renewable electricity we generate on our sites
3. Reducing the carbon emissions associated with our construction activities
4. Using an internal shadow price of carbon to drive investments towards low carbon alternatives
5. Offsetting the remaining carbon from our construction activities, and any remaining fossil fuel energy consumed
Find more information on our progress in this area here
Leadership and advocacy
Decarbonising our economy and dealing with the implications of climate change are the most critical challenges facing the world today. But the causes of climate change are systemic, so it’s crucial that we support the work of government and NGOs to create an impact. We actively support public policy and regulation on issues like carbon, energy and biodiversity in order to drive and maximise positive change.
Following the two degree pledge made at the historic COP21 Convention on Climate Change in Paris in 2015, we became the first property company in the world to have its carbon emission targets approved by the Science Based Targets initiative. Through this process we committed to reducing our emissions in line with the requirements of the global two degree warming target, matching the efforts of governments and companies across the world.
We were also one of the first companies globally to join all three of The Climate Group’s RE100, EP100 and EV100 campaigns, a series of commitments for businesses to procure renewable energy, improve energy productivity and invest in electric transport infrastructure. These commitments directly support our wider business goals whilst also driving positive environmental action.
We're dedicated to working with the real estate industry to tackle global environmental and societal problems. We are active members of the UK Green Building Council and Better Buildings Partnership, working with our peers to help the entire industry improve. We use our expertise to help tackle specific sustainability problems. For example, we are actively working with a coalition chaired by the World Business Council on Sustainable Development to expand the methodologies of setting science based targets for the built environment, allowing even more companies to take necessary climate action.