London-based property company Great Portland Estates (GPE) is making significant strides in its sustainability strategy, as outlined in its recent update on its Sustainability Statement of Intent, titled ‘The Time is Now’, which was originally launched in 2020. GPE has also introduced its new ‘Brief for Creating Sustainable Spaces’ to further bolster its commitment to sustainability.
GPE has made impressive progress since its 2016 baseline, with a 32.2% reduction in energy intensity and a remarkable 66% reduction in carbon intensity. Additionally, 43% of GPE’s portfolio now boasts an Energy Performance Certificate (EPC) rating of B or above, exemplifying the company’s dedication to sustainability. To support its sustainability efforts financially, GPE has allocated £768,000 to its decarbonisation fund since its establishment in 2021, utilizing an Internal Carbon Price of £95 per tonne.
Notably, GPE has achieved several significant milestones. The company has successfully delivered its first net zero carbon building at 50 Finsbury Square, showcasing its commitment to combatting carbon emissions. Furthermore, the development of Hanover Square, W1 has led to a commendable 62% increase in biodiversity net gain across GPE’s portfolio. Surpassing expectations, GPE has achieved an impressive 8.6% uplift in biodiversity net gain, exceeding its re-baselined target.
To expand its sustainability efforts, GPE has introduced a new commitment called Creating Sustainable Spaces. This initiative will now apply to all types of spaces managed by GPE, including Ready to Fit, Fitted, and Fully Managed spaces. By extending its sustainability focus to all areas within its portfolio, GPE aims to create a comprehensive and holistic approach to sustainability.
Toby Courtauld, CEO of GPE, underlined the significance of these initiatives in reaffirming the company’s commitment to sustainability. He emphasized that GPE is determined to provide innovative and climate resilient spaces that not only meet the demands of its customers but also fulfill its own future targets.
Janine Cole, Sustainability and Social Impact Director of GPE, acknowledged that there is still work to be done in the realm of sustainability. She highlighted GPE’s evolving approach, which includes integrating climate resilience into all aspects of the business, incorporating nature in its four pillars of approach, embracing circular thinking in all projects, and fostering innovation in the design, construction, fit-out, and operation of spaces.
GPE’s strengthened sustainability strategy exemplifies its dedication to creating an environmentally friendly and sustainable built environment in London. As the company continues to progress towards its goals, it serves as a role model for other property developers and landlords to follow suit.
Useful links:
1. GPE Sustainability Stories
2. GPE Sustainability Initiatives
