Responsible Asset Management
Management of the existing portfolio
This financial year we initiated a first review of our occupied (“in-place”) buildings. All eight office buildings, which are multi-tenanted and where the Group has control of the utilities, were assessed for energy efficiency, water usage, and greenhouse gas emission and waste production for the period 1 April 2015 to 31 March 2016. As part of this, measurement of the metrics recommended in the EPRA Best Practices Recommendations on Sustainability Reporting (September 2011) was undertaken.
The metrics assessed cover electrical and gas energy, water and waste. A total of approximately 39,000 square meters over the eight buildings was covered. These metrics will continue to be measured as we undertake initiatives to improve building efficiency in the future.
The key EPRA metrics for the eight buildings for the assessed period were:
|EPRA sustainability summary
||GRI G4 indicator
||Total for assessed buildings
||Total treated floor area
||Total electricity consumption
||Total fuel consumption
||Building energy intensity
||Total direct greenhouse gas (GHG) emissions (Gas)
||Total indirect greenhouse gas (GHG) emissions (Elec)
||Greenhouse gas (GHG) intensity from building energy consumption
||Total water consumption
||Building water intensity
||Total weight of waste
||Type and number of sustainability certified assets
Note: Building Energy and Greenhouse Gas Intensity (CRE1 and CRE2) as reported are inclusive of total (i.e. Landlord plus Tenant) electrical energy consumption for Montague House (solely), as its current metering arrangement records whole-building usage only. It is estimated that the inclusion of tenant electricity consumption for this particular property amplifies expected energy and carbon intensity for the entire portfolio by the order of 5-10%. Sub-metering of electrical installations is being implemented at Montague House in order to enable future sustainability reporting to reflect solely landlord energy consumption throughout the portfolio. As this is our first year of reporting, no “like for like” numbers are available.