Governance
Financial Statements
Additional Information
Strategic Report
Biodiversity We have created a new Biodiversity Policy in which we recognise the importance of biodiversity for the wellbeing of the planet and the communities in which we operate. As a responsible owner of commercial real estate, we are committed to integrating biodiversity considerations into our business practices. Our policy outlines our commitment to preserving and enhancing biodiversity and outlines the steps we will take to achieve our targets. We plan to enact our policy through: / Raising awareness with our stakeholders. For example, by discussing ideas for biodiversity improvements with our occupiers at our occupier meetings and ensuring our contractors take biodiversity into account within their activities / Setting realistic targets which can be cost effectively achieved. Many of our industrial estates now have a range of biodiversity measures in place, and in conjunction with our managing agents and contractors we will regularly review how successful these are and implement appropriate changes accordingly / Making improvements to meet our targets, including, for example expanding on any existing measures such as no mow zones, bird and bat boxes or beehives, or through the introduction of different initiatives, such as wildflower meadows or introducing rules to make the products we use in our office buildings more biodiverse In addition, we have this year partnered with a community interest company, called Youngwilders, who are focused on biodiversity and nature recovery-led projects.
Water consumption This year, we have been able to receive the benefit of the automatic data collection readers previously installed across our multi-let portfolio. This has led to greater accuracy in data collection, and we now collect 44% of our landlord water data from these meters. Over the year, we have seen a reduction in landlord water consumption of 4% on both an absolute and intensity basis. This reflects the improved data accuracy, as well as water efficiency measures carried out at some of our buildings. Due to the nature of the retail portfolio and distribution warehouse portfolio (which have very few communal areas or utility supplies), the water consumption figures of these are insignificant at a portfolio level (comprising less than 6% of the total landlord- controlled water consumption). Going forward, we will continue to use building refurbishments, and our sustainability action plans to improve water efficiency across the portfolio.
Materials and waste We recognise the importance of sustainable waste disposal and remain committed to eliminating landfill waste disposal across the portfolio. We are also amending our leases to ensure our occupiers are obligated to avoid waste to landfill. This year, we have again successfully diverted 100% of waste from landfill across property management activities, using either recycling or heat recovery. Overall waste generation reduced by 39% over the year, which reflects improved management practices across our managed property assets. Of the waste produced 74% was recycled and 26% recovered. We continue to engage with our waste providers and occupiers with the aim of improving the sorting and filtering of waste at our properties. The benefit of this is to make the downstream sorting and filtering, recycling and recovery process more efficient.
100% Waste diverted from landfill from property management activities
Picton Property Income Limited / Annual Report 2024
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