The environmental impact of climate change is tangible.

As a responsible business, we believe that modernising and upgrading existing buildings is better for the environment than tearing them down to create new structures. Our work to extend the lifespan of older buildings and our sustainable approach is both a competitive advantage and an example of our corporate responsibility.

At the same time, we have a vested interest in reducing greenhouse gas emissions. Our decarbonisation plans, which form the backbone of our environmental strategy, have already yielded results. We have begun to make progress in addressing our emissions through the ongoing refurbishment and, for the first time, modernisation work across our portfolio. Achieving net zero for Scopes 1 and 2 in Germany and carbon neutrality in the UK for Scope 1 and 2 emissions is an important milestone on the road ahead.

We have also set an ambition to address our Scope 3 emissions which account for over 99% of our total emissions. Our ambition is to achieve a 45% reduction in Group Scope 3 emissions intensity per sqm by 2030.

We continue to map our journey with care and attention while continuing to generate healthy returns for our shareholders.

We have developed the following four objectives to support our environmental goal:

1. Create a GHG emissions reduction plan leading to net zero emissions across the business
   
   
2. Embed environmental and social considerations into our modernisation, refurbishment and acquisition processes
   
   
3. Protect, support and expand biodiversity across our portfolio
   
   
4. Ensure the management and efficient reduction of water usage and waste
   
   

More detail on our GHG emissions reporting and data can be found here.