Picton Property Income Limited Sustainability Report 2021

PictonProperty Income Limited Sustainability Report 2021

Environmental Focus

Introduction

Approach

Sustainable Buildings

Our Employees

Stakeholder Engagement

Appendix

Environmental Focus Our environment Climate changemitigation and adaptation As set out in our previous 2020 Sustainability Report, we recognise that climate change adaptation is a growing focus, and will be a key consideration as we embark on our TCFD reporting scope over the coming year. With regard to our portfolio, we continue

real impact of energy efficiency projects undertaken over the past two years. This year we reduced our energy intensities by -25% in absolute terms and -28% on a like-for-like basis. As set out previously, the reduced activity over the year will have contributed to these figures and we hope to see a sustained reduction in future, as a result of the efficiency measures we have implemented. Occupier obtained energy data is included in the building coverage as we work towards our aim of obtaining 100% coverage of our portfolio. It, however, has been excluded from intensity, renewable and estimated metrics due to it being a measure that we have little control over. We aim to have automatic meter reads across the whole portfolio to increase reliability of data and reporting accuracy.

In respect of our absolute carbon emissions, over the year we have reduced our Scope 1 and Scope 2 emissions by -31% and -36% respectively. The reduction in business activities as a result of the pandemic has been a clear factor behind this. We continue to focus on improving data collection and reducing emissions. For a full breakdown of each emission source and our progress please see the Appendix on pages 46–56 where we have set out our performance tables in line with EPRA reporting guidelines. Energy In absolute terms, there has been a -29% reduction in electricity consumption. There has been a -28% reduction in like-for-like electricity consumption. For landlord-controlled supplies, in absolute terms, there has been a -32% reduction in fuel use and a -28% decrease in like- for-like fuel use. Reductions can be predominantly attributed to site closures following the Covid-19 pandemic. We hope that next year, as operations return to normal, data will demonstrate the

As part of our five-year plan to meet our energy reduction targets, we have undertaken a programme of occupier engagement, including audits and workshops. The focus has primarily been on office locations, but we will also be working with other occupier controlled sites to help reduce their operating costs and the impacts on our Scope 3 emissions.

to ensure our buildings are resilient to changes in the environment and availability of resources. Resilience is one of the principal items in our new refurbishment guidance. We have a diverse portfolio of buildings across varying sectors and geographies, which are both landlord and occupier controlled. In order to improve data collection and reporting we continue to utilise a single energy supplier for landlord controlled areas across the portfolio and use automatic meter readings wherever possible, We are carrying out a gap analysis to establish any locations without automatic meter readings with the aim of delivering complete coverage of landlord data collection. For our occupied spaces, where we do not control energy, we continue to liaise closely with our occupiers to obtain data. Clearly, the past year has proved challenging with respect to data collection, but we will use this opportunity to further engage with our occupiers which we hope will benefit data collection going forwards.