Governance
Financial Statements
Additional Information
Strategic Report
Methodology We collect all of our landlord controlled energy data via automatic meter readings, achieving 62% coverage to date. The aim to is reach 100% coverage of our portfolio and we continue to work with our occupiers and data providers to achieve this. All our large supplies work from automatic meter reads, with any void unit meter data being aggregated to an asset level. This means that 100% of landlord controlled data is meter read and not estimated. We are working towards rolling out automatic meter reads across the whole portfolio to increase coverage and reliability of our data and reporting accuracy. We have reported on all the emission sources required under the core requirements of EPRA Best Practices Recommendations and have voluntarily disclosed business travel, occupier, and own premises consumption emissions. An operational control approach has been adopted and all our properties are included. Figures presented are absolute for utility and waste consumption and relate only to landlord-obtained utilities and waste removal. Occupier- obtained consumption is included where possible. We have calculated and reported our emissions in line with the GHG Protocol Corporate Accounting and Reporting Standard (revised edition) and used emission factors from UK Government’s
We are committed to increasing our Scope 3 data coverage with automated data collection. Tim Hamlin Director of Asset Management
Head office We started collecting and reporting our head office data in 2016, and while it is only a small part of our overall footprint, we believe it is important to provide a holistic view where possible. Our office is located on a floor within Stanford Building, London, which is one of our own assets. This is a refurbished space, providing the latest technology and energy efficiency measures. This has allowed us to obtain more reliable data. In turn, we have optimised our office heating/cooling and lighting systems to minimise our emissions. In 2023, our energy usage reduced by 11%. Business travel Our business travel footprint has increased over the year as a result of increased activity across the portfolio requiring physical attendance to optimise outcomes. We continue to encourage sustainable forms of travel and virtual meetings where practical.
We continue to report on a calendar year basis to ensure there is sufficient time to collect occupier consumption data.
We have calculated our intensity measurements based on the area served by each meter, for example whole site, common area or a specific floor within an asset. External supplies have been excluded from the intensity calculations. So that an accurate comparison can be made between reporting years, this approach has been backdated to 2019 figures. We have continued to voluntarily report on Scope 3 vehicle emissions. Vehicle emissions were calculated using our vehicle expenses reports and the vehicle emission factors from the UK Government GHG Conversion Factors for Company Reporting 2023. Year-on-year, we will continue to update previous reported figures if applicable to remove estimates and ensure actual data is captured and reported. We occupy a floor within one of our assets under management and as such, have apportioned out our consumption based on floor area and this is reported as a separate line item.
GHG Conversion Factors for Company Reporting 2023.
10% Like-for-like reduction in Scope 1 emissions 62% Scope 3 occupier energy data collection
Picton Property Income Limited / Annual Report 2024
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