The Better Buildings Partnership (BBP) has today announced three new signatories to the BBP Climate Commitment. Helical, Picton and Savills Investment Management bring the total number of property owners that have signed the groundbreaking Commitment to 33, covering over £380bn Assets Under Management (AUM) worldwide.
On signing the Commitment, organisations are required to publish a net zero carbon pathway for their portfolio including direct and indirect investments, together with a delivery plan. The Commitment covers new and existing buildings, Scope 1, 2 and 3 emissions and both operational and embodied carbon, making it one of the most ambitious climate commitments for property owners.
Signatories also commit to disclosing the energy performance of their portfolios and developing comprehensive climate resilience strategies. To support signatories, the BBP has published a Net Zero Carbon Pathway Framework, operates Net Zero Carbon and Climate Resilience Working Groups and has established an Owner and Occupier Forum to enable BBP members to share knowledge and develop guidance that can be made available to the wider industry.
Helical plc is a London focused office investment and development company. Helical’s Pathway involves an ambitious target of achieving Net Zero Carbon for both operational and embodied carbon by 2030 and includes case study buildings from their portfolio such as 33 Charterhouse Street with embodied carbon outcome 40% lower than the RIBA benchmark Access Helical's pathway here.
Picton, established in 2005, is a UK REIT that owns and actively manages a £849 million diversified UK commercial property portfolio, invested across 47 assets and with around 400 occupiers. Picton have committed to achieving net zero carbon for their operational and embodied emissions by 2040. As part of their commitment, Picton will also engage and work with occupiers to help them reduce emissions that relate to their occupation. Access Picton’s pathway here.
Savills Investment Management is an international real estate investment manager, managing real estate worth circa EUR 26.1bn worldwide. Savills IM have committed to target NZC emissions across their AUM and their own business by 2040 and to become a restorative business by 2050 – meaning they will seek to put more back into society and the planet than they take out. Access Savills IM’s pathway here.
Sarah Ratcliffe, CEO, Better Buildings Partnership said: “We are delighted to be welcoming three new signatories to the BBP Climate Commitment. The Commitment is both comprehensive and challenging, with the aim of driving large-scale market transformation. All of the signatories, including Helical, Picton and Savills IM should be acknowledged for the exceptional leadership that they are demonstrating, not only in committing to net zero, but also in setting out their plans for delivering on their targets.”
Matthew Bonning-Snook, Property Director and Chair of Sustainability Committee, Helical plc said: “We are pleased to become a signatory to the BBP Climate Commitment and join our fellow peers in tackling carbon emissions within the built environment. Our Net Zero Carbon pathway sets out our ambition to become net zero by 2030 for both operational and embodied carbon emissions. Furthermore, we are also committing to delivering all future developments as net zero carbon at the point of practical completion. Our pathway details the steps we need to take to become net zero and will be instrumental in helping us achieve this.” – Matthew Bonning-Snook, Property Director and Chair of Sustainability Committee.”
Michael Morris, CEO, Picton said: “Whilst we have been measuring and reducing emissions since 2016, we now have a longer term comprehensive and transparent plan to achieve net zero carbon, ten years ahead of the target set by the UK Government. We are pleased to have also become a signatory to the Better Building’s Partnership Climate Commitment and would encourage other owners of real estate to do the same, to ensure as an industry we do the right thing, collaborate and deliver a sustainable future for all our stakeholders.”
Alex Jeffrey, Global Chief Executive, Savills IM said: “Savills IM is proud to become a signatory of the BBP Climate Commitment. Our Net Zero Carbon pathway outlines our commitment to reduce global carbon emissions to net zero by 2040 with a clear aspiration to become a restorative real estate business. We understand the challenges that we will face to achieve this aspiration, acknowledging that collaboration with occupiers, the wider industry and government will drive success. Promoting and implementing ESG as part of our investment framework is central to our responsibility towards investors, clients, employees, and the wider community.”
Note to Editors
The Better Buildings Partnership (BBP) is a not-for-profit collaboration of the UK’s leading property owners who are working together to improve the sustainability of the UK’s existing commercial buildings. The organisation's aim is to deliver market transformation through sustainability leadership and knowledge sharing across the UK property industry. The BBP currently has 48 members who represent more than £275bn Assets Under Management (AUM).
BBP Climate Commitment
Signatories of the BBP Climate Change Commitment include abrdn, Aviva Investors Real Estate, British Land, Bruntwood, Cadogan, Canary Wharf Group, DWS, Derwent London, Federated Hermes, Frasers Property, GPE, Grosvenor Britain & Ireland, Grosvenor Europe, Hammerson plc, Helical plc, Hibernia REIT, Landsec, LaSalle Investment Management, LGIM Real Assets, Lendlease Europe, Low Carbon Workplace, M&G Real Estate, Nuveen Real Estate, NewRiver REIT, Orchard Street Investment Management, Picton, Royal London Asset Management, Savills Investment Management, Schroder Real Estate Investment Management, Shaftesbury, SEGRO, Transport for London, The Crown Estate and Workspace Group plc.