Our purpose is to provide the right space for our customers and communities so that businesses and people can thrive. We do this to create long-term financial, physical and social value. Together, these create sustainable value for our shareholders.
We aim to be a sustainable business by anticipating and responding to the changing needs of our customers, communities, partners and employees. We act early to position the Group for the conditions we see ahead, and we take a long-term view of value creation. For us, it’s about transforming financial, physical and social resources into financial, physical and social value for our shareholders and society.
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.
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.
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, at £80 per tCO2e, 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
For us, sustainability is about the actions we take to fulfil our purpose so Landsec prospers far into the future. We want customers to prefer our spaces. We want communities to be pleased it’s us operating in their area. We want partners to share our priorities. And we want employees to invest their energy and ambition here. When we get all this right, we create value for our investors."
Our performance and impact
Through our sustainability programme we’re focused on reducing our negative impacts, whilst maximising economic and social value. You can find an overview of our performance here.