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British Land, Corporate Chris Grigg Responsibility Is About Who We Are Reducing Our Use of Why We Invest in CR Resources, Meeting Our Corporate responsibility and us Property management Property development Focus on our portfolio GO Commentary by At British Land, corporate Chris Grigg responsibility is about Who we are reducing our use of Why we invest in CR resources, meeting our Our CR strategy customers' needs, supporting our Embedding CR communities, and getting Measuring performance the best out of our people Key Performance and suppliers. Indicators Stakeholder engagement Building Together is our partnership approach to Awards developing, managing and Building Together awards financing property Our targets responsibly. By working Independent assurance together we are achieving Contact us more. Green terrace at Ropemaker Carbon neutral Download: Summary report British Land 2009. All Rights Reserved. For our full Corporate Responsibility Report: britishland.com/crReport/2009 1 Corporate responsibility and us Property management Property development Focus on our portfolio GO Commentary by Commentary by Chris Grigg Recognition Chris Grigg "I am delighted to have joined a company that recognises the Global 100 Most Sustainable Who we are Corporations value of adopting a broad approach to business. A disciplined Property Week UK Developer of Why we invest in CR corporate responsibility strategy makes good commercial the Year PMA Best Service Charge Our CR strategy sense, as well as being beneficial for the environment and Provider of the Year Embedding CR society. Estates Gazette's Property Company of the Year for Measuring performance Offices Key Performance Indicators Stakeholder engagement Awards Building Together awards Our targets Independent assurance Contact us Carbon neutral Download: Summary report Chris Grigg, Chief Executive of British Land For us, corporate responsibility is measurable and deliverable, as well as being a critical part of our approach to business. It is a way of reducing energy bills and helping to protect the environment. Measurement means that we assess economic and environmental benefits in arriving at business decisions, and that we then evaluate our performance in a quantitative manner. Corporate responsibility is certainly not something to 'cut back on' just because market conditions are tough. We also recognise that in an industry like ours, partnering with others is critical to maximising the benefits associated with corporate responsibility. We call this approach Building Together. Building Together contributes to the bottom line for our customers as well as ourselves, whilst helping us to achieve our wider goals. Critically, we are achieving more by working with our customers. We know this through measurement. This year, our contractors saved 94% of demolition waste on our sites from landfill, our agencies designed our developments to have 25% less carbon dioxide emissions on average than current standards, and our managing agents and occupiers diverted 85% of managed waste from landfill. We are also working closely with our occupiers who control 90% of energy use across our portfolio. This is about more than cutting costs and carbon emissions. It is about really listening to our occupiers to understand their needs and help them to achieve their business objectives. We are pleased to report that we scored 82% customer satisfaction, improving on 73% in our last independent survey. We have achieved a lot to be proud of. There is more that we want to do, and there always will be. We want our property management teams to learn from each other. We want each development to learn from the ones before. Building Together is central to everybody's role, including mine. We encourage everybody within our organisation and supply chain to think about corporate responsibility in each decision that they make and in everything they do. We hope that you find this year's report interesting and informative. We welcome your feedback." For our full Corporate Responsibility Report: britishland.com/crReport/2009 2 Corporate responsibility and us Property management Property development Focus on our portfolio Search GO Commentary by Who we are Chris Grigg British Land is one of the UK's largest Real Estate Investment Against a backdrop of Who we are Trusts with total assets, owned or under management, valued difficult market Why we invest in CR conditions British Land's at £12.3 billion, as at 31 March, 2009. operational performance Our CR strategy has shown resilience. Embedding CR Our activities have been decisive, including the Measuring performance Rights Issue, looking to Key Performance secure the Company's Indicators position and preserving its options for the Stakeholder engagement future. Awards Chris Gibson-Smith Building Together awards Chairman at British Land Our targets Independent assurance Contact us Carbon neutral The hallmark of our business is a focus on customers, leading to a portfolio Download: Summary report in prime locations in the UK and more recently in Continental Europe. Through active management of these assets, combined with purchases, sales and new development activity, we tailor our property holdings to meet the needs of occupiers. Our portfolio, focused on the Out-of-Town Retail and London Office sectors, has the longest leases at an average of 13 years, and occupancy rates amongst the highest of the major UK REITs at 96%. Retail assets account for 56% of our portfolio, 82% of which is located in prime out-of-town sites. Central London Offices comprise 42% of our portfolio. New office and retail developments complement these holdings. Sustainability is at the core of our business. From community involvement in the planning process, through development, refurbishment and management, our aim is to provide attractive buildings that minimise resource use and meet the needs of occupiers now and into the future. British Land 2009. All Rights Reserved. For our full Corporate Responsibility Report: britishland.com/crReport/2009 3 Corporate responsibility and us Property management Property development Focus on our portfolio GO Commentary by Why we invest in corporate responsibility Chris Grigg Balancing economic, environmental and social criteria protects It's in everyone's Who we are the interests of our shareholders and our customers' interest to cut down Why we invest in CR on power usage and shareholders. increase efficiency. Our CR strategy Office occupier Our partnership approach to corporate responsibility, Building Together, is Embedding CR feedback also beneficial for the people who live near to our properties and Measuring performance developments, for our employees and suppliers, for wider society and for Environmental initiatives are Key Performance the environment. Indicators becoming more important as Stakeholder engagement As Executive Officer at British Land, Peter Clarke, explains: "A long-term awareness grows. This Awards business needs to develop and manage buildings that stand the test of is also due to the growing expectations Building Together awards time, meeting increasingly stringent regulatory requirements and occupiers' of our stakeholders. growing expectations." He adds: "We also need to manage risk, realise Our targets opportunities and value our customers, our brand and our reputation." Andrew Varley, Independent assurance Estates Director at Next Group Plc, retail Contact us By improving resource efficiency at our properties we are reducing the occupier impact of rising energy bills, fuel prices and landfill taxes on our occupiers. Carbon This is particularly important at a time when businesses are under pressure neutral to reduce costs. Our occupiers, investors and employees are increasingly concerned by sustainability issues, from an environmental, regulatory, Download: financial and risk point of view. Summary report By working with local communities we are enhancing the local environment for our occupiers, as well as for local people. Developing buildings which meet local needs and have local support is a vital part of the planning process. Investing in good causes and providing training and employment opportunities also helps us to generate local goodwill, driving footfall at our retail properties and enhancing our reputation. British Land 2009. All Rights Reserved. For our full Corporate Responsibility Report: britishland.com/crReport/2009 4 Corporate responsibility and us Property management Property development Focus on our portfolio GO Commentary by Our Corporate Responsibility Strategy Chris Grigg Building Together is our partnership approach to corporate We're working closely Who we are responsibility. By working together we are achieving more. with British Land. Why we invest in CR Sustainability is a big issue for us and the Our CR strategy Stakeholder feedback, benchmarking and expert opinion informed the biggest thing is our Embedding CR development of Building Together. building. Measuring performance Office occupier The four cornerstones of Building Together are: feedback Key Performance Indicators Environmental Our use of resources initiatives are more Stakeholder engagement We aim to understand our resource use and the important than ever Awards resources used in our buildings, to reduce these because our energy wherever possible, to re-use whenever practicable and costs are going up. Building Together awards otherwise to recycle. Our targets Property management | Property developments Retail occupier feedback Independent assurance Our customers and us These days Contact us We aim to treat our customers as partners, to help sustainability has them to achieve their
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