Picton Property Income Limited Sustainability Report 2022

Environmental Focus

Introduction

Stakeholder Engagement

Governance

Appendix

Energy efficiency continued

GHG emissions Our absolute Scope 1 emissions rose by 9% compared to the previous year to 1,020 tCO 2 e. Similarly, our Scope 1 intensity rose by 11%. This rise was to be expected as lockdown restrictions eased further during 2021, with small increases seen in many of our office assets. Compared to 2019 emissions, the last full reporting year prior to the pandemic impacts on occupation, we have seen a -10% reduction. We continue to explore energy efficiency measures across our portfolio, with current studies being undertaken at Colchester Business Park, Colchester on replacing the gas boilers with low carbon alternatives. Our absolute Scope 2 emissions have decreased by -3% this year, to 1,448 tCO 2 e, with our emission intensity staying level. Energy efficiency projects at Stanford Building, London, 50 Farringdon Road, London and Regency Wharf, Birmingham have helped reduce our Scope 2 emissions despite the increasing occupancy levels following the easing of lockdown restrictions. Compared to 2019, we have seen a -37% reduction in emissions. This year we are looking to continue refurbishing our properties, with LED upgrade works at Parkbury Industrial Estate, Radlett, a building management system upgrade at Metro, Manchester and the continued roll out of Asset IQ across suitable assets. For the first year we have represented our head office emission intensity due to occupying a floor within the newly refurbished Stanford Building, London.

Smart buildings In collaboration with our sustainability advisers at CBRE we have installed the Asset IQ tool at four of our multi-let office locations. Asset IQ connects to the building management system, providing live updates from each piece of plant equipment throughout the building. A holistic picture of each building’s energy usage over a 24/7 period is then built up with inefficiencies highlighted to facilities managers on-site so that any changes can be implemented. The tool provides quarterly action plans which:

By far the largest element of our Scope 3 emissions is that of our occupiers. We are targeting an increase in occupier data collection compared to 2020 following the end of lockdown restrictions. To help assist our engagement with occupiers, we have installed a CBRE Host app at Colchester Business Park, Colchester. In 2022 we will be implementing the app at further sites, including Stanford Building, London. We will also be starting an occupier engagement workshop programme to encourage collaboration opportunities, and this will be open to all of our occupiers.

— identify issues with the operation of the equipment — pinpoint the reasons for anomalies — suggest the most suitable technical solutions — identify the improvement of the overall energy strategy At Grafton Gate, Milton Keynes, since installing the tool in August 2019, and with the energy savings identified and implemented, the building has achieved 1,531,430 kWh of energy savings equivalent to 482,983 kg of CO 2 . We will next install Asset IQ at Tower Wharf, Bristol, a multi-let office building.