Addressing climate change has been a key topic of discussion this decade, particularly in the last two years, and the time for action is now. One theme I’m particularly focused on is collaboration. The built environment accounts for 39% of emissions globally. The need for companies to work together to reduce emissions is abundantly clear.
We’ve seen a wave of companies release sustainability roadmaps this year, including Frasers Property UK. As an integrated developer, asset manager and investor, we’re considering current and future needs as we look to bolster the sustainability portfolio while improving working environments for the betterment of health, wellbeing, and productivity of our occupiers.
As a business, we’ve committed to achieving net zero carbon by 2050, aligned to Science Based Targets, to certify 80% of our portfolio with green building certifications by 2024 and to finance most of our portfolio with green and sustainable financing. Frasers cannot achieve this alone – we need all businesses that occupy our commercial portfolio to approach sustainability with the same vigour.
Occupiers play their part
Commercial leaseholders are increasingly asking more of their landlords, which is why Frasers has switched all its managed meters to grid-procured renewable energy sources. We’re committed to offering the same to our occupiers too and, in the past year, we’ve installed over 400kW of rooftop solar panels.
It’s encouraging to see that more than 20% of the companies that occupy our buildings have also committed to achieving net zero carbon. And those seeking new premises want developments with climate conscious and well-being focused certifications, such as BREEAM, Fitwel and WELL.
Investment to retrofit such developments will play an important role too. We’ve taken on an ambitious retrofit of our own, with The Rowe, formerly the Aldgate Bauhaus in Whitechapel. The project, the former home of the London Metropolitan University’s School of Art, Architecture and Design, will see Frasers transform the existing six floors and add a further six.
Due for completion late 2022, the project has been rated a WiredScore ‘Platinum’ for its exceptional connectivity. It is also on track to achieve WELL ‘Platinum’ certification, BREEAM ‘Excellent’ rating and SmartScore ‘Platinum’. Climate conscious principles underpin every aspect of the scheme from plan to build. The Rowe will run on 100% renewable electricity and will provide 45% carbon emission reduction compared to a standard office building.
On the path to decarbonisation, we must not lose sight of the importance of health and wellbeing, and biodiversity enhancements. We need to work collaboratively to support both national and global sustainable commitments, including supporting our customers by providing a framework for sustainable and healthy communities. All major refurbishments in Frasers’ UK portfolio are targeting a BREEAM rating, and we’re currently working on setting an embodied carbon target for refurbishments too. The majority of our estates have biodiversity improvement plans in place, and diversity is actively being measured to ensure positive impacts.
Behavioural sea-change
Frasers understands that this shift will require behavioural change as the means to accomplish the environmental ends. This is a huge task, but Frasers ensures that our management staff are regularly trained on all areas of sustainability, including waste management, energy use, and biodiversity.
This monumental effort to educate our staff is reflected in the company becoming the first in the world to achieve a three-star Fitwel accreditation for one of our estates, Farnborough Business Park. Furthermore, Frasers has certified the world’s largest area to achieve the Fitwel accreditation, which includes Chineham Park and Winnersh Triangle. The company has also been recognised for outstanding leadership in sustainability by GRESB, the global ESG benchmark for real estate assets, placing first among its peer group.
Decarbonising the built environment and enhancing asset resilience and biodiversity is going to be at the forefront of environmental debates. Frasers is taking sustainability seriously, making ambitious but necessary commitments. We encourage all businesses in the industry, including those that occupy the company’s commercial portfolio, to do the same.
Amira Hashemi is sustainability manager at Frasers Property UK
