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The results reconfirmed to us the importance and level of resource we are already placing behind our environmental programme by highlighting that achieving net zero emissions through efficient energy and carbon management, and integrating climate change into long-term planning and building adaptation, are the most financially and impact-material topics, respectively.
Throughout the past year, we continued to implement PV, LED lighting, and heating system replacement projects in Germany and met EPC requirements in the UK by implementing similar activities. These projects have advanced our decarbonisation programme and enhanced our transition planning, both in terms of project management and capital allocation. We also undertook a bottom-up, asset-by-asset analysis of climate-related physical risks across our portfolio and will incorporate these findings into our asset management plans. Our aim remains, with the resource available to us and considering our asset type and mix, to build the resilience of our portfolio to both transition and physical risks, while identifying climate-related opportunities for our business and stakeholders. Our TCFD report this year shows that we are making good progress with embedding climate considerations into our strategic, operational, and financial planning processes.
Our TCFD Report can be found in full from page 40 of Annual Reports and Accounts 2025.
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