Picton Property Income Limited Annual Report 2022

Strategic Report

Financial Statements

Additional Information

Governance

Sustainable thinking, responsible business

Our net zero carbon pathway Our pathway sets out our approach to tackling climate change and priority actions towards decarbonising our portfolio. We have committed to achieving net zero carbon for our operational and embodied emissions by 2040, which is ten years ahead of the UK Government target. Our pathway sets out our plan to achieve net zero carbon for both our own and our occupiers’ emissions by 2040 and our strategy for achieving this. Our target covers the whole life carbon of our assets, including the energy use of our occupiers. To ensure credibility and transparency in our approach, our net zero carbon pathway aligns with the Better Buildings Partnership’s (BBP) Net Zero Carbon Pathway Framework and the UK Green Building Council’s (UKGBC) net zero carbon hierarchy. To meet our commitment, we have set targets for whole building energy efficiency for each asset type and embodied carbon related to major refurbishments. By 2040, all operational emissions will be reduced as much as possible through energy efficiency measures and renewable energy, with any residual emissions offset. From 2040 onwards, all completed refurbishment projects will have reduced their embodied and operational carbon as much as possible, with any residual emissions offset upon practical completion. We value collaboration in driving industry-wide change and facilitating knowledge-sharing on best practice. To ensure our continued alignment with the BBP requirements, we will continuously monitor our performance and report annually on our progress.

This year we published our net zero carbon pathway and became a signatory to the Better Buildings Partnership Climate Commitment.

2040 Net zero carbon

for operational and embodied emissions 300 kgCO 2 e/m 2 Embodied carbon target for major refurbishments by 2040

Visit our website picton.co.uk/sustainability

Read more in Being Responsible section on pages 60–66

 Picton Property Income Limited  Annual Report 2022

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