PRUPIM

In order to ensure that our new sustainability strategy addressed the issues of greatest importance to our business and our stakeholders, in 2008 we commissioned an independent review of the most material impacts of our business. This materiality review highlighted a number of issues that have now been incorporated into our Sustainability Strategy.

Our impacts are varied and present themselves at different stages of the property cycle. This page provides a summary of the main impacts associated with our business. Click here to find out more about solutions and our commitments on these issues.

Energy and Climate Change

 
Climate change continues to be high on the global political agenda. As the built environment accounts for approximately 40% of all carbon emissions, it is unsurprising that a number of fiscal and legislative measures are being introduced to mitigate the impacts of climate change associated with buildings. It is also widely accepted that the impacts of climate change can no longer be avoided and therefore, in order to protect the long-term value of our built assets, it will be important to understand and adapt to the risks that this challenge presents.

 
In the short-term there is also evidence to suggest that some occupiers are willing to pay a premium to occupy energy efficient buildings due to the potential cost savings and reputation benefits that they offer.

 
Waste

 
The built environment accounts for around 30 to 40% of solid waste generation.  Much of this waste ends up in landfill sites, placing pressure on valuable land resources and creating environmental problems for years to come. Consequently a number of legislative and fiscal measures have been introduced to encourage waste prevention, recycling and reuse and to discourage the use of landfill.

 
Significant cost savings can be achieved through the implementation of good waste management regimes and there are increasing opportunities to generate revenue by recycling marketable waste streams.

 
Water

 
The properties we manage consume the equivalent of 262 Olympic-size swimming pools of water every year. The impacts of climate change are predicted to exacerbate global and national water shortages. Since a large proportion of the water used is consumed inside buildings, it is unsurprising that governments are planning to introduce measures to increase the water efficiency of built assets. Substantial cost savings can also be achieved in addition to the environmental benefits that conserving water can bring.

 
Biodiversity and Land Use

 
When land is altered from its natural state, it can cause biodiversity loss and disturb ecological processes. Global loss of biodiversity and ecosystems is threatening the functioning of our planet, our economy and society. As a significant player in the UK real estate industry, we recognise the impact that particularly our development activities can have on the local ecology. We also acknowledge that sensitive design and landscaping can attract occupiers to our premises.

 
Communities and Other Stakeholders

 
Our operations have a direct impact on our stakeholders, particularly the communities located near our assets and developments. It is important to ensure that our developments deliver real benefits to local people and our construction activities minimise disturbance to neighbouring communities.

 
The safety of our staff, contractors and those who use our buildings is also a key priority for our business and affects all our stakeholders.

A full list of our future targets can be found here.