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GREEN FINANCE FRAMEWORK GREEN FINANCE FRAMEWORK 1. INTRODUCTION 2. RESPONSIBLE SEGRO: SEGRO’S APPROACH TO CORPORATE RESPONSIBILITY 3. FRAMEWORK CORE COMPONENTS 4. USE OF PROCEEDS 5. PROCESS FOR PROJECT EVALUATION AND SELECTION 6. MANAGEMENT OF PROCEEDS 7. REPORTING 8. EXTERNAL REVIEW 9. APPENDIX – CASE STUDIES 2 | Green Finance Framework GREEN FINANCE FRAMEWORK 01. INTRODUCTION SEGRO IS A UK REAL ESTATE INVESTMENT TRUST (REIT), LISTED ON THE LONDON STOCK EXCHANGE AND EURONEXT PARIS, AND IS A LEADING OWNER, MANAGER AND DEVELOPER OF MODERN WAREHOUSES AND INDUSTRIAL PROPERTY. It owns or manages 8.8 million square metres Our purpose is to create the space that enables of space (95 million square feet) valued at £15.3 extraordinary things to happen. It highlights our OUR PURPOSE billion (at 31 December 2020), serving customers dual roles: as creators of physical spaces and from a wide range of industry sectors. Its enablers for our stakeholders to achieve their IS TO CREATE properties are located in and around major cities own ambitions. It is true for our customers, who and at key transportation hubs in the UK and in depend on our properties to be able to deliver THE SPACE seven other European countries. the extraordinary range of goods and services which are essential to modern life. It is true for From modern big box warehouses, used our colleagues, whom we want to thrive and to THAT ENABLES primarily for regional, national and international maximise their potential while working with us. distribution hubs, to urban warehousing located And it is true of other stakeholders, such as the EXTRAORDINARY close to major population centres and business people and communities who work in, live near districts, it provides high-quality assets that allow to, or provide services to our properties. THINGS TO its customers to thrive. HAPPEN. DAVID SLEATH, CEO, SEGRO 4 | Green Finance Framework GREEN FINANCE FRAMEWORK Our commitment to be a force for societal and To make sure that we continue to meet our own environmental good is integral to our purpose high standards and those that are expected of and strategy. This has been at the core of how we us, we listened to our customers, employees, do business for over 100 years and will be just as suppliers, investors and other stakeholders to important for the next 100. This commitment is understand what’s important to them and how led by our Board but lived by SEGRO colleagues we can be a force for good beyond the buildings every day. It is about doing the right thing and we create and own. Our ambition is to be the making a positive impact wherever we operate. partner of choice for all our stakeholders, to enable us to create long-term economic and societal value. OUR LONG-HELD COMMITMENTS TO LEADERSHIP IN HEALTH AND SAFETY, STAKEHOLDER ENGAGEMENT, CORPORATE GOVERNANCE AND BEING A SEGRO EUROPEAN LOGISTICS PARTNERSHIP (SELP) GOOD CORPORATE CITIZEN ARE STRONGER THAN EVER, AND OUR SEGRO’s largest joint venture is the SEGRO SEGRO acts as Venture Adviser, Property European Logistics Partnership S.à r.l. (SELP) Manager, Development Manager and RESPONSIBLE SEGRO PRIORITIES which was created in October 2013 as a 50:50 Administrator to SELP, acting either through HAVE BEEN DESIGNED TO joint venture between SEGRO and Public SELP Management Limited (a SEGRO plc group Sector Pension Investment Board, the Canadian company) or another member of SEGRO plc’s SUPPORT AND ENHANCE THESE. pension fund. The objective of the venture is to group. SELP formally adopted the Responsible be a leading owner of big box warehouses in SEGRO Framework in April 2021 and all assets Continental Europe, with portfolio growth driven owned by SELP, and SELP itself, are managed in by active asset management, portfolio acquisitions line with the Responsible SEGRO Framework as and disposals, and development. well as other SEGRO policies, some of which are described in this document. Its portfolio is located in seven European countries: France, Germany, Poland, Italy, Spain, For the purposes of the following information the Netherlands and the Czech Republic. At 31 and the details provided in the Green Finance December 2020, the portfolio was valued at Framework, all references to SEGRO policies or €5.3 billion and generated €247 million of approach also apply to its subsidiaries and joint headline rent across 4.8 million square metres ventures (in particular, SELP), except where these of lettable area. are explicitly excluded. Further information on SELP can be found at www.selp.lu. 6 | Green Finance Framework GREEN FINANCE FRAMEWORK 02. RESPONSIBLE SEGRO: SEGRO’S APPROACH TO CORPORATE RESPONSIBILITY HOW AN ORGANISATION APPROACHES ITS ENVIRONMENTAL, SOCIAL AND GOVERNANCE RESPONSIBILITIES HAS BECOME INCREASINGLY IMPORTANT IN RECENT YEARS. Good businesses need to recognise that their Our Responsible SEGRO framework, which actions are far reaching and, in order to drive encompasses all of our subsidiaries and joint sustainable growth, the considerations of wider ventures, introduces three long-term priorities stakeholders need to be taken into account when to which we can make the greatest business, making decisions that may impact them. environmental and social contribution: CHAMPIONING LOW- INVESTING IN OUR NURTURING CARBON GROWTH LOCAL COMMUNITIES TALENT AND ENVIRONMENTS 8 | Green Finance Framework GREEN FINANCE FRAMEWORK RESPONSIBLE SEGRO PRIORITIES CHAMPIONING LOW-CARBON GROWTH INVESTING IN OUR LOCAL COMMUNITIES NURTURING TALENT AND ENVIRONMENTS SEGRO recognises that the world faces a climate SEGRO is an integral part of the communities in which it SEGRO’s people are vital to and inseparable from its emergency and we are committed to playing our part in operates, and we are committed to contributing to their success, and we are committed to attracting, enhancing tackling climate change, by limiting global temperature long-term vitality. and retaining a diverse range of talented individuals in CONTEXT rise to less than 1.5 degrees, in tandem with growth in our business. our business and the wider economy. We will be net-zero carbon by 2030. We will create and implement Community Investment We will increase the overall diversity of our own Plans for every key market in our portfolio by 2025. workforce throughout the organisation. TARGETS We will aim to reduce carbon emissions from our We will work with our customers and suppliers to We will provide a healthy and supportive working development activity and the operation of our existing support our local businesses and economies. environment, develop fulfilling and rewarding buildings, and eliminate them where possible. careers, foster an inclusive culture and build a ACTIONS We will help improve the skills of local people to enhance more diverse workforce. We will research and implement innovative approaches their career and employment opportunities, by investing to absorb or offset residual carbon. in local training programmes. Equally, we will enhance the spaces around our buildings, working with local partners to ensure we meet the needs of our communities. Through our Responsible SEGRO programme and a focus on the three core priorities above, we believe that we are able to make the greatest UN SDG contribution to six of the United Nations ALIGNMENT Sustainable Development Goals. 10 | Green Finance Framework GREEN FINANCE FRAMEWORK CHAMPIONING LOW-CARBON GROWTH: PATHWAY TO NET-ZERO CARBON SEGRO recognises that our planet is facing a climate emergency and we are committed to playing our part in tackling climate change by becoming net-zero carbon by 2030. BUILDING RUNNING ABSORBING ANY Our buildings are vital enablers of economic LOWER-CARBON SPACES LOWER-CARBON SPACES RESIDUAL CARBON growth and assist the efficient functioning of the economy. As a society, however, we need growth that does not damage our long-term future and we We are committed to reducing the average We are committed to reducing the We do not offset emissions today, and recognise that real estate is a significant contributor embodied carbon intensity of all new carbon intensity of our operated our priority will be to eliminate, as far as to carbon emissions through the construction and developments by 20% by 2025 properties by 40% by 2025 (compared possible, all embodied and operating carbon operation of buildings. (compared to a 2019 baseline). to a 2017 baseline). emissions across our portfolio, including WHERE WE WHERE START FROM Scope 3 emissions. Our priority is to eliminate as far as possible the carbon emissions from the development of new buildings and the operation of existing buildings, We will work with our partners and We will cut the carbon emissions from To address any residual carbon, we will research and we will then ensure that any residual carbon is suppliers to find and deliver innovative, the buildings we operate whilst also and implement innovative approaches to carbon offset or absorbed meaningfully and effectively. low carbon materials and techniques to challenging and supporting our customers absorption and offset, using our scale and WILL DO WILL WHAT WE WHAT further reduce the embodied carbon of to reduce theirs, furthering their own resources to create local, authentic and effective our developments. sustainability objectives and reducing their ways to capture carbon from the air. operating costs. We will embed sustainability in our We will do this by increasing the use of developments from the design phase, renewable energy across our portfolio UN SDGs taking a full life-cycle approach.

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