Great Portland Estates’ launches 'Creating Sustainable Spaces' strategy
Great Portland Estates' sustainability approach is an integral part of their business strategy: designed to address material risks, meet the needs of key stakeholders and enhance the long-term value of the business through responsible property acquisition, development and management.
Setting strategy and objectives
Their long term vision for sustainability is set out in "Creating Sustainable Spaces" and communicates how they plan to create sustainable places, a sustainable footprint and sustainable relationships into the 2030s.
As part of their annual sustainability strategy review, a gap analysis is undertaken to ensure that:
Current regulatory requirements are met, and where appropriate, exceeded
They evolve to keep pace and prepare for changes in legislation
The strategy reflects the expectations of stakeholders
The strategy reflects industry best practice
The sustainability strategy is compatible with the overall business strategy
The sustainability strategy is structured around key corporate risks and industry best practice to ensure that they:
Create sustainable spaces, reducing obsolescence
Manage sustainable spaces, meeting changing occupiers’ demands
Enhance the way they work with investors, the local community, suppliers and their people
Material areas addressed include:
Engagement with investors on sustainability
Resource management, reducing energy consumption, mitigating climate change
Waste management
Occupier engagement
Meeting and exceeding regulatory and planning requirements
Responsible sourcing
Working collaboratively with our contractors
Ensuring the smooth transition of our buildings through construction, commissioning, fit-out and into occupation
Wellbeing
Social Value
Managing sustainability
Our Sustainability Committee meets on a quarterly basis and is chaired by our Chief Executive. The Committee is responsible for the strategic direction of the Group’s sustainability policies and procedures.
Reporting on sustainability
Great Portland Estates monitor progress on their strategy quarterly through our Sustainability Policy Committee and Environmental Working Group. Their achievements are reported internally every year. To ensure transparency in their reporting, they use consultants to assure their data and progress against some targets. Where appropriate targets are included in employees’ personal objectives and are considered part of their appraisal and bonus achievement.
To provide transparency when reporting their sustainability performance, they participate in a number of external benchmarks and ratings including:
Carbon Disclosure Project
GRESB
FTSE4Good
They are also members of the Ethibel Excellence Register and align our reporting with EPRA Best Practice in Sustainability Reporting Guidelines.
This article was originally published on the Great Portland Estates website here.
