British Land : Pathway to Net Zero Update 2025

OU R PATHWAY TO N ET ZERO - 2025 PROG RESS U PDATE

2025 2026 2030+

Embodied carbon

Implement software to track embodied carbon from 'in-use' standing assets

Develop process for measuring the embodied carbon of fit-outs at Storey

Increase piloting of low carbon materials

Consider targets for customer fit-out and landlord refurbishment

Office

Established low carbon materials working group

Incorporate key net zero carbon criteria into procurement of goods and services

Develop Circular economy guidance

Develop Sustainable Fit-out guide

developments embodied carbon intensity to be below 500kg CO2e per sqm

Operational carbon

Undertake environmental audits managed portfolio-wide

Integrate audit outcomes into longer term asset plans

Expand use of SMART technology to improve energy efficiency

Identify a solution for monitoring energy consumption of retail and leisure units

Formalise a consistent approach for NABERS certification

Explore and implement customer-based initiatives including green leases, building charters and efficiency incentives

For retail and leisure assets, implement energy monitoring procedures

Investigate potential structures of a

UK-based Power Purchasing Agreement

Achieve target rating of 5* NABERS for 1 Broadgate development

Liaise with key customers

Continue to assess the viability of onsite and offsite additional renewable energy

Consider efficiency targets for occupier spaces

Net zero governance

Launch internal carbon price and Transition Vehicle

Integrate energy and carbon clauses into new and renewed leases

Set out a new strategy and targets beyond 2030

Review current SBTi targets and commitment in line with new SBTi Buildings sector guidance when published

Review and pilot Net Zero Buildings Stanrdard

Embed net zero criteria into pre-acquisition process

Provide full carbon transparency on new developments in reporting

Delivered Underway Future initiative Arrows denote actions which will endure throughout the Pathway