Our approach A responsible and ethical approach to business is essential for the benefit of all our stakeholders and understanding the long-term impact of our decisions will help us to manage risk and continue to generate value.
Global trends driving sustainability Society is becoming increasingly aware that the prosperity of humanity and the planet are intrinsically interlinked, and not everything should be measured in terms of economic success. For businesses, the need to look beyond economic success is gaining momentum. Short-term profitability to the long-term detriment of the planet’s natural systems and wider society is no longer an acceptable or a viable business model. A more holistic approach is required, which incorporates stakeholder wellbeing, circular economy principles and nature-based solutions, whilst accounting for natural capital and carbon emissions, and recognising alternative drivers of value like energy efficiency and supply chain resilience. In 2023 the World Economic Forum (WEF) released its eighteenth Global Risks Report, stating that eight out of the top ten most severe risks on a global scale over the next ten years, as perceived by world leaders, are environmental and social risks, with the top three being climate action failure, failure of climate change adaptation and natural disasters and extreme weather events. The Intergovernmental Panel on Climate Change’s (IPCC) sixth assessment report confirmed that global average temperatures are already 1.1°C higher than pre-industrial levels. To keep irreversible tipping points from being reached, warming must be limited to 1.5°C, which means that greenhouse gas emissions must be halved by 2030. At COP28 in 2023, we are expecting the results of the Paris Agreement’s global stocktake, which will assess the current position and global progress made towards the 1.5°C maximum target. There are undoubtedly challenges to overcome and costs to incur, but also vast opportunities, cost savings and advantages to be gained. Those who do not engage and collaborate to drive change risk much higher costs in the future.
Sustainable thinking is integrated within all our business activities. We are committed to making a positive contribution to society, whilst minimising any negative impact on people, local communities and the environment.
Our sustainability policy guides our long-term sustainability priorities. We have in place a sustainability framework based on our key material issues and continue to review these key priorities annually.
Net zero carbon
Materials & waste
Health & Safety
Sustainable thinking, responsible business
Employees & skills
Occupier satisfaction & wellbeing
Transparency & reporting
Supplier & contractor responsibility
Community & social value
Picton Property Income Limited Annual Report 2023
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