British Land : Sustainability Progress Report 2025

‌B R I T I S H L A N D SUSTAINABILITY PROGRESS REPORT 2025

G REENER

SPACES

THRIVING

PL ACES

RESPONSIB LE

CHOICES

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B RITIS H L AND

SUSTAINABILIT Y PROG RES S REPORT 2025

Overview

Greener Spaces

Thriving Places

Responsible Choices

Back Contents

INTRODUCTION

WE LCOM E

WHAT'S INSIDE

Welcome to our Sustainability Progress Report 2025. On the following pages we provide an update on progress in delivering our Sustainability Strategy. Our Sustainability Datasheets provide a detailed update on our progress against our targets and commitments.

A year of good progress

During FY25, we continued to work to progress our 2030 Sustainability Strategy, delivering for our customers, shareholders and our local communities.

On developments, we continued our commitment to reusing existing building components and materials, focusing on design efficiency and specifying low carbon materials. On our managed portfolio, our investments in retrofitting have led to a 38% reduction in carbon intensity since FY19 and supported our improved Energy Performance Certificate (EPC) performance with 68% of our portfolio (by ERV) holding an A or B EPC rating.

This year, our social impact programmes meaningfully benefitted over 18,500 people living in and around our assets. We also provided £1.2m of affordable space to local small business and community organisations, including through our Really Local Stores initiative.

In FY25, 100% of people working on our behalf at our places were paid at least the real Living Wage, achieving our commitment as an accredited Living Wage Employer. This is not only the right thing to do, it also helps us attract and retain the best talent to provide services to customers at our places.

We have achieved a 5-star GRESB rating for both the Standing Investments and Development sustainability, achieving a score of 100/100 for Development. We continue to be ranked by GRESB as a European Sector Leader for Standing Investments and Global Sector Leader for Development. We have achieved a Top 75 Social Mobility Employer rating from the Social Mobility Employer Index for the seventh consecutive year.

Simon Carter

Chief Executive

GREENER SPACES

Performance overview

Our approach to decarbonisation Embodied carbon

Transition Vehicle Offsetting Operational carbon Nature

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8

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S E E M O R E

2025 Sustainability Datasheets https://www.britishland.com/sustainability-datasheets

THRIVING PLACES

Performance overview Social impact

Social value Affordable space Employment Education

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2025 Sustainability Reporting Criteria and Assurance https://www.britishland.com/reporting-criteria-assurance

2025 Annual Report and Accounts here

https://www.britishland.com/annual-report

TCFD response https://www.britishland.com/TCFD

RESPONSIBLE CHOICES

Performance overview Diversity, Equality & Inclusion Real Living Wage

Health and safety Responsible employment Responsible procurement Sustainability Leadership

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Benchmarks and external commitments 26

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B RITIS H L AND

SUSTAINABILIT Y PROG RES S REPORT 2025

Overview

Greener Spaces

Thriving Places

Responsible Choices

Back Contents

OUR SUSTAINABILITY STRATEGY

We have a strong track record of action on environmental, social and governance issues. This is the right thing to do and makes business sense. Our 2030 strategy was launched in 2020.

75%

reduction in

25%

improvement in whole building energy efficiency

£25m

Social Impact Fund comprising cash contributions and affordable space

90,000+

people benefitting from

RESPONSIBLE CHOICES

Making responsible choices across all areas of our business and encouraging our customers, partners and suppliers to do

the same.

THRIVING PLACES

Creating a long-lasting, positive social impact by supporting our customers and communities.

GREENER SPACES

Decarbonising our portfolio and enhancing climate resilience to create places where people, businesses and nature flourish.

operational carbon intensity across our portfolio

50%

reduction in embodied carbon intensity

in our developments

100%

real Living Wages for employees and supplier workforce at our places

OUR 2030 COMMITMENTS

min.40%

women on the Board and in senior management

min.15%

impactful education and employment partnerships

£200m

direct social and economic value generated through

our social impact activity and spend with SMEs

min.40%

site spend with

SMEs during construction

minoritised ethnic representation in senior management

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B RITIS H L AND

SUSTAINABILIT Y PROG RES S REPORT 2025

Overview

Greener Spaces

Thriving Places

Responsible Choices

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HIGHLIGHTS IN 2025

GREENER SPACES

THRIVING PLACES RESPONSIBLE

CHOICES

S U S TA I N AB I L IT Y L E A D E R SH I P

38%

reduction in operational carbon intensity across our managed portfolio vs our indexed FY19 baseline1

2024

625

2025

615

kg CO2e per sqm

embodied carbon intensity across our current office developments.

Reduced from an 2019 baseline of 1,000kg CO2e

per sqm

A total of 66,756 people have benefitted from our education and employment partnerships

6

5

7 , 6 6

since FY21

Direct social and economic value generated since FY21

£120m

including

8,785

this year

ahead of the trajectory for our 2030 target

of 90,000

£32.5m

making positive

progress towards our 2030 target of

this year

£200m

50%

women on the Board

Social Mobility Employer Index 2024

of people working at our assets on our behalf paid at least the real Living Wage

100%

10% minoritised ethnic representation in senior management1

International benchmarks include:

GRESB Real Estate Assessment FY25

5* rating

for Standing Investments benchmark - scoring 90/100 -

and Development benchmark - scoring 100/100

RE A D M O RE

about our double materiality assessment at https://www.britishland.com/materiality

about our approach to sustainability governance at https://www.britishland.com/governance

19%

improvement in whole building energy efficiency across our managed portfolio vs our indexed FY19 baseline

71%

of employees volunteered this year

Top 75

for the seventh

year running

1 Senior management includes members of the Executive Committee

and their direct reports (excluding administrative roles)

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B RITIS H L AND

SUSTAINABILIT Y PROG RES S REPORT 2025

Overview

Greener Spaces

Thriving Places

Responsible Choices

Back Contents

G R E E NE R

Canada Water

Regent's Place

SPACES

Glasgow Fort