Sirius Sirius Real Estate

We believe in modernising and extending the lifespan of older buildings.

As part of this, we regularly engage with our tenants and those in our supply chain through our customer care team and our annual tenant survey, which was completed in February 2024. We had a good representation of BizSpace and Sirius tenants, in particular from our Top50 tenants in Germany. While focused on operational issues, it includes sustainability questions, which are key to our engagement with our tenants in this area. This encourages environmental responsibility, raising awareness of our sustainability programme and enables us to incorporate tenant requirements in our decision-making as we plan energy provision, emissions reduction, EV charging, and biodiversity, among other areas. At the same time, we continually review our procurement and tender policies to embed ESG-related requirements.

Embodied carbon

One way we monitor our success is through the award-winning building information modelling (BIM) system we devised to calculate embodied carbon associated with our refurbishment projects. Embodied carbon makes up 10% of our total emissions.

By analysing and extrapolating data from a representative sample of our German portfolio, we can better understand the drivers of embodied carbon in our portfolio. We have carried out detailed embodied carbon calculations for different types of expansion projects to enable us to have better visibility of embodied carbon.

 

Embodied carbon

FY2022/23

FY2023/24
Embodied carbon in total emissions (Germany) 6,815 MtCO2e 9,383.65 MtCO2e

The model can be used in future renovation projects, informing the choice of materials and suppliers. Equally, it provides a platform on which we can engage with our suppliers to improve our emissions performance.

Sirius Renewable Energy GmbH

In 2023, we established Sirius Renewable Energy GmbH to provide a centralised function for our solar energy ambitions and pilot programmes in Germany. During the year, we conducted an initial assessment for the potential of roof-mounted solar panels at a selection of our German business parks. This resulted in the identification of pilot sites, with work commencing at our Augsburg and Tempelhof properties to be completed in FY2024/25. We have also identified and budgeted a further six photovoltaic (PV) pilot projects in Germany for the next year. We will continue to assess for additional opportunities and will carefully monitor our current projects to further our understanding of potential operational and financial implications.

PV installations in the UK

In the UK, we are also considering the potential for PV installations, but due to the nature of our portfolio, we do not anticipate a significant rollout. We began work on two pilot sites in Solihull and Theale, scheduled for completion in FY2024/25. We will carefully review our pilot projects to understand outcomes and benefits and will assess the feasibility of further installations across our UK portfolio.

EV charging points 

Meanwhile, following engagement with our tenants, we are responding to the demand for EV charging points across our portfolio in Germany and the UK. This also reflects the rise in the number of drivers choosing electric and plug-in hybrid vehicles. EV and smart charging are one of the many ways we work to support renewable energy production and improve energy efficiency.

We continued to add to our provision in Germany in the year. In line with our targets from last year, we have now installed units in a total of 60 sites, meaning 80% of our German portfolio, including the Titanium venture, is now equipped with EV chargers. In the UK, we are still in the early stages of our installation programme. Last year, we partnered with a national provider to accelerate our rollout. So far, 16 sites now have EV charging provisions across our UK network. Looking ahead, we are collaborating with our tenants in Germany to identify the next sites to equip in our EV rollout, and in the UK, two sites are already scheduled for completion this year and we are working to identify further sites.

Low-emissions transport

We encourage our employees to use low-emissions transport where possible and, in 2020, started a programme to upgrade our fleet of cars to hybrid or electric vehicles. Our company car fleet in Germany now consists of 90.7% hybrid or electric vehicles. We also promote train travel for business trips where possible and support our employees with a bicycle leasing programme in Germany and the cycle-to-work scheme in the UK, which help promote wellbeing and reduce carbon emissions.

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