Our commitments

Commitment (Existing)

Create £25m of social value through our social sustainability programmes by 2025. 

Progress

Created over £6.5m of social value through our social sustainability programmes, exceeding our in-year target. Over £11m of social value created since commitment launched in 2019/20.

Commitment (Existing)

Ensure everyone working on our behalf, in an environment we control, is given equal opportunities, protected from discrimination and paid at least the Real Living Wage by the end of 2020.

Progress

We continue to pay the Real Living Wage to all of our direct employees and partners across our London office portfolio. We have not been able to meet our 2020 Living Wage commitment fully across our retail portfolio. Recognising the impact that the pandemic has had on businesses, particularly the retail sector, The Living Wage Foundation is allowing businesses to pause their accreditation. We will review our accreditation by November this year when there will be more certainty on the reopening of the UK economy.

We collaborated with modern slavery specialist Stronger Together to perform a gap analysis, develop an action plan, and launched a Modern Slavery Working Group to improve our approach in identifying and managing modern slavery risk.

Commitment (Existing)

Make measurable improvements to the profile – in terms of gender, ethnicity and disability – of our employee mix. 

Progress

52% of our employees are female and ethnic minority representation is 17%, exceeding our targets of 50% and 14% respectively. Our female representation is 31% at leader level and 38% at senior leader level. Our ethnic minority representation is 8% at leader and 6% at senior leader level.

Commitment (Existing)

Maintain an exceptional standard of health, safety and security in all the working environments we control.

Progress

To establish and maintain Covid-secure destinations and workplaces we launched a taskforce to assess the impact of the virus on our operations, to interpret government guidance, and co-ordinate the rollout of new ways of working. We continue to enhance fire safety across the business and ensure we meet new government initiatives and legislation.

Commitment (Existing)

Reduce carbon emissions (tCO2e) by 70% by 2030 compared with a 2013/14 baseline, for property under our management for at least two years.

Progress

 We have reduced carbon emissions by 55% since 2013/14 against our science-based carbon reduction target. Significant reduction in carbon emissions as a result of lower occupancy and operational hours due to Covid-19 restrictions.

Commitment (Existing)

• — Ensure 100% of our electricity supplies through our corporate contract are from REGO backed renewable sources.
  — Achieve 3MW of renewable electricity capacity by 2030.

Progress

We continue to procure 100% renewable electricity across our portfolio. We are currently exploring opportunities to move our procurement towards direct purchasing from renewable projects through Power Purchase Agreements (PPA).

Progress

Our current on-site renewable electricity capacity is 1.4 MW. We have continued to progress our feasibility studies for on-site renewable technologies, assessing the value this would deliver to Landsec and our customers and how these could be incorporated as part of future redevelopment works.

Commitment (Existing)

Reduce energy intensity (kWh/m2) by 40% by 2030 compared with a 2013/14 baseline, for property under our management for at least two years.

Progress

We have reduced energy intensity by 43% compared to 2013/14. Although this figure suggests that we’ve already achieved our target to reduce energy intensity by 40% by 2030, we recognise that energy consumption has been significantly impacted by lower occupancy and operational hours due to Covid-19 restrictions and doesn’t reflect portfolio energy performance in normal conditions. For that reason, we’ll continue tracking our performance against this 2030 target.

Commitment (Existing)

— Send zero operational waste to landfill.
— At least 75% waste recycled across all our operational activities by 2020.

Progress

We continue to divert 100% of waste from landfill across our operational activities.

Progress

We recycled 65% of operational waste. The decrease in recycling rate from last year reflects the reduction of recyclable materials such as packaging in retail as a result of Covid-19. Landsec has seen a 63% reduction in total waste produced due to Covid-19.

Commitment (Existing)

Assess and mitigate physical and financial climate change adaptation risks that are material across our portfolio.

Progress

To continue aligning our disclosures with the TCFD recommendations, this year we’ve again worked with Willis Towers Watson in assessing and quantifying climate-related risks to inform our approach to managing climate risks across our portfolio, including new developments.

Commitment (Existing)

Source core construction products and materials from ethical and sustainable sources.

Progress

Our developments continue to make good progress against this target. All our live developments are targeting 100% of core construction materials with a responsible sourcing certification and from the UK and Europe to reduce emissions from transportation and reduce risk of ethical issues in manufacture and extraction.

Commitment (Existing)

Maximise the biodiversity potential of all our development and operational sites and achieve a 25% biodiversity net gain across our five operational sites currently offering the greatest potential, by 2030. 

Progress

We continued our partnership with The Wildlife Trusts to enhance biodiversity net gain at our five operational sites and we’re on track to deliver significant net gain on our developments and created a new biodiversity brief for developments.

Commitment (Existing)

Ensure our buildings are designed and managed to maximise wellbeing and productivity.

Progress

This year we committed to pursuing the WELL Portfolio Programme across our existing managed office portfolio, in addition to our new schemes. All of our live developments are successfully registered and pre-assessed against WELL Core rating.