27th Mar 2007 09:51
British Land Co PLC27 March 2007 BRITISH LAND GIVES A LEAD ON SUSTAINABILITY FOR THE COMMERCIAL PROPERTY INDUSTRY British Land, Europe's largest property company by assets, publishes its annualCorporate Responsibility Report today with a live webcast hosted by ChiefExecutive, Stephen Hester. As part of its commitment to responsible leadershipin this area, British Land is also announcing the intention to become carbonneutral by 2008/2009. (For details of live webcast at 12.00 midday see page 2.) Accounting for a major part of the built environment, the commercial propertyindustry has a special position of influence and responsibility in advancing thecause of sustainability. Reflecting this, the report details a range ofcontinuing initiatives, substantially improving British Land's efficiency inresource usage. It shows that reductions in water, energy and associated CO2emissions in landlord controlled areas have been achieved. Energy usage reducedby 4 per cent across the portfolio and water by 16 per cent. The biggest CO2improvements came from the London Offices portfolio, primarily as a result ofenergy management activities at the 30 acre Broadgate Estate in the City.Meadowhall Shopping Centre, one of British Land's largest assets, reduced energyconsumption by 11 per cent. The decision to become carbon neutral tangibly incentivises the business tofocus on resource reduction. The target will be achieved through on-goingmeasurement and reduction of carbon dioxide emissions, by maximising energyefficiency, increasing the use of renewable energy and by using off-setting as afinal step to achieve carbon neutrality. The Company will also continue to workin close partnership with suppliers and customers to help them to reduce theircarbon footprints. Stephen Hester, Chief Executive, British Land, said: "Sustainability has been atthe heart of our operational principles and establishing British Land as acarbon neutral company does not signal a change in strategy, but anacceleration. We are taking an activist approach, stepping up existing effortsand aim to lead the market in developing and managing buildings in a sustainablemanner." "This will help future-proof our properties, enhance our brand and relationshipswith customers and stakeholders and so increase the long-term value of thebusiness. By financing, developing and managing properties that responsiblyutilise energy, water and waste, we conserve the world's resources and can alsoreduce our costs and those of our occupiers." As part of its wider Corporate Responsibility agenda, major initiatives alreadyundertaken by British Land include collection of energy data, sustainable designof buildings, rainwater harvesting, waste and water management, travel plans fordevelopments and head office and feasibility studies into alternative energysources. The Company already operates a sustainability guide for developmentsand investments and will shortly publish its sustainability guide forrefurbishments along with a water management programme. The carbon neutral drive has three elements: continue to manage and reducedirect emissions; reduce the carbon content of energy supply - installingturbines and solar panels and investing in combined heat, power and coolingsources - and off-setting. By off-setting British Land introduces to the business a benchmark cost againstwhich carbon reduction initiatives can be measured and delivers a directincentive to reduce energy use which, in turn, will reduce the cost ofoff-setting in future years. Progress on other Corporate Responsibility initiatives in the 2006 report alsoshow: • CO2 emissions at British Land's landmark developments - 201 Bishopsgate and the Broadgate Tower - are forecast to be 29 per cent better than required standards and the buildings are on track to achieve a BREEAM rating of 'Excellent'. • Almost £500,000 invested in sustainability measures at the Company's new head office including staff cycle racks and shower facilities, energy and water mains metering, recycling initiatives and only Forest Stewardship Council certified timber throughout the building. • Under a key account programme to improve customer satisfaction ratings the Company has streamlined processes, consolidated managing agents and introduced key performance measures. It has also introduced measures to ensure it exceeds the new Service Charge Code standards. • Zero waste to landfill was achieved at Meadowhall, which also won a Business in the Community award for Energy Efficiency, Waste Management and Employability. • Under regeneration programmes some 4,000 new permanent jobs are being created at phase two Blythe Valley Park; over 1,000 new homes are planned at Regents Place and the first phase of the Canada Water master plan; and £100,000 has so far been invested in the design of an improved crossing at the Euston Road underpass. • £658,000 has been invested in good causes, primarily in the areas of education, the arts and sport. • Staff time off for volunteering is estimated at almost £300,000. • Publication of the 2006 Corporate Responsibility report also marks the start of a new way of reporting British Land's progress on its responsibilities in these areas. In future, Corporate Responsibility Reporting will be integrated with financial reporting and a summary included in the Annual Report and Accounts. A full report will be available online, thus reducing printing and paper use. The complete 2006 Corporate Responsibility Report is available atwww.britishland.com/crReport/2006. The webcast will be available at www.britishland.com/responsibility Listen to the live webcast or to ask a question dial +44 (0) 203 003 2644 at 12midday. Questions can be submitted in advance via email to [email protected] or at www.britishland.com/responsibility Date: Tuesday, 27 March, 2007 Media contacts: British Land: Laura De Vere - 0207 467 2920/mobile: 0773 929 2920Finsbury: Faeth Birch/Gordon Simpson - 0207 251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land