We believe strong ESG performance should underpin asset-level performance and reduce downside risk. We have continued to strengthen our commitment to responsible and sustainable practices across the portfolio and our operations.

This year, we have refined our net zero targets to reflect our decarbonisation progress across the portfolio.

Highlights of the year

Environmental focus

• Rebaselined our net zero carbon pathway using SBTi guidance and set new near-term and net zero targets
• 23% annual reduction in Scope 1 and 2 emissions
• 86% improved portfolio EPC ratings, ranked A-C, with increased focus on achieving a higher proportion of A and B ratings
• Reduced the amount of waste emissions generated in landlord controlled areas by 18%
• Published our net zero strategy, Climate Change Policy, Waste Statement and updated Biodiversity Policy

Social impact

• Carried out annual occupier surveys at industrial and office assets
• 93% of occupiers would recommend us as a landlord, an increase on last year from 88%
• £25,000 charitable donations, supporting 13 charities
• Reviewed our charity partnerships in line with our Social Impact Policy

Governance and advocacy

• Maintained EPRA Gold awards for both 2025 Annual Report and sustainability reporting
• Improved our GRESB score rating and retained three Green star status
• Increased investor engagement, and attended the EPRA 2025 Corporate Access Event
• Reviewed all ESG policies and published four new strategies, statements and policies