Carbon Reductions in a Leading Real Estate Corporation: A Case Study of British Land Company Proprietary

Abstract

Carbon management is critical in a world of growing corporate emissions that are contributing to substantial environmental degradation. The real estate industry has a significant impact on the climatic crisis, contributing to 40% of greenhouse gas emissions produced from the development and use of buildings. The British Land Company has allocated significant resources into reducing the carbon intensity of its assets and general activities. British Land is unique in producing a sustainability goal that includes unique carbon levies to finance retrofitting of its assets and to improve its overall sustainability. British Land’s assets (retail, residential and office) produce an average of 933 kg CO2e/sqm, with total emissions of 242,291 tonnes of CO2 during the 2020 financial year. British Land has also integrated a variety of sustainable interventions, including sourcing renewable energy, diversion of waste from landfill, designing out fossil fuels, building with low-carbon materials, recycling and others. This has resulted in a 19% reduction in greenhouse gas emissions between the 2020 and 2021 financial years. Without defining these practices and British Land’s quantified contributions to reducing carbon intensity, it is difficult to complete a rigorous assessment of the emissions profile of British Land. However, it is clear that it is making great progress towards aligning with the Paris Agreement 2030 targets but must be more purposeful in its management reporting.