2023 sustainability update confirms company is on track against stretching                                            environmental and social impact goals

 Grosvenor’s UK property business has published its latest sustainability update, confirming that it is on track to deliver against its ambitious 2030 environmental and social impact goals.

To enable the business to maximise its positive impact, it has also adopted and refined an integrated sustainability strategy - People.Planet.Positive. This provides a framework to ensure that every decision the business makes – about a prospective development or the day-to-day management of a neighbourhood – considers the environmental and social impact that it can have, as well as the commercial.

This approach encompasses seven pillars: carbon, biodiversity, waste, an evidenced approach to community wellbeing and support for local businesses, sector diversity and targeted philanthropy.

For the first time, the company has reported on this integrated approach. 2023 highlights include:

• A 26% reduction in absolute carbon emissions across scope 1,2 and 3 since 2019, ahead of their net zero carbon pathway
  1. 4 of 5 developments completed in 2023 were delivered below 2025 embodied carbon targets.
  2. 13% year on year reduction in operating emissions, supported through the retrofit of 1m sq. ft. of residential and commercial space
• 3.7% biodiversity net gain in managed spaces since 2021
• Neighbourhood wellbeing action plans in place
• 27% of 2023 spend was with local businesses, supported by a ‘place first’ approach to procurement
• Community investment programme, Greener Futures, funded 36 climate led community projects benefiting over 35,000 people in 2022 and 2023

Tor Burrows, Group Sustainability Director, Grosvenor, commented “Our commitment to sustainability is integral to our goal to create vibrant neighbourhoods where occupiers, communities and nature thrive.   Through early action and continual innovation, we remain on track to deliver against some of the industry’s most stretching sustainability commitments.”

Projects which exemplify the business’ integrated People.Planet.Positive approach to sustainability include:

• Billiards Building: This Grade II listed building underwent an extensive retrofit to create best in class sustainable space and Birmingham’s first listed net zero office. Using new waste management technologies, the project achieved a waste intensity of 4t/100m² (beating the target of 6.5t/100m²) and a 100% diversion from landfill rate. The retrofit enhanced the building’s EPC rating from an E to an A and supported local suppliers throughout the construction.
• Fivefields is a new co-working space created for charitable and social impact organisations. Designed to maximise environmental performance and inclusion, it incorporates the first platform lift in a listed building, innovations to improve the sensory environment and is targeting a BREEAM outstanding accreditation. Our project partner, The Westminster Foundation, provides grant funding to selected occupiers which align with its own charitable purpose, ensuring impact led organisations have access to a high quality, sustainable and affordable central London location. 

The report also shares learnings from the business’ four-year transformation programme. These include the need to articulate clear social impact goals, so they support identified needs but also clearly direct action plans; a recognition of the continuous effort needed to ensure sustainability is embedded into company culture and ensuring that asks of supply chains and partners, including occupiers, are proportionate.

Tor Burrows added: “As we celebrate our successes, we recognise that progress won’t be linear and is likely to become incrementally more challenging. But we’re also optimistic – knowing that innovating, collaborating and bold early investments have driven significant advances already. And, by being candid about our experiences and where we’ve had to reassess our approach, we hope to support wider industry change too.”

About Grosvenor 

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Grosvenor is an international organisation whose activities span urban property, food and agtech, rural estate management and support for philanthropic initiatives.

We are a values-led business which represents the Grosvenor family and share a common purpose - to deliver lasting commercial, social and environmental benefit - addressing today’s needs while taking responsibility for those of future generations.  

With a track record of over 340 years, we work to improve urban property and places in many of the world’s leading cities, promoting sustainability within the built environment and enhancing the wellbeing of customers and communities. 

Our UK property business supports c1,000 businesses and tens of thousands of residents and workers across London’s West End each day. We also invest in, create and manage sustainable neighbourhoods in Liverpool and across England. As a 1.5^oC aligned company, pioneering change and new ways of thinking about property we aim to ensure our places benefit both people and the planet over the long term.