Land Securities has become the first property business to sign up to the EP100 campaign, committing to double its energy productivity over the next two decades from 2014 levels.
The commercial landlord’s portfolio of retail parks and shopping centres, as well as a number of high profile office and retail properties in London, will see its energy consumption fall over the next 20 years through a series of efficiency measures.
Land Securities is already a member of RE100, the Climate Group’s other corporate initiative designed to promote 100% renewable energy use among some of the world’s largest companies. The latest data shows it has already achieved 98% renewable in 2015, through on-site solar photovoltaics and direct purchasing from a supplier.
The company will use both programmes to progress towards its science-based target to reduce its greenhouse gas (GHG) emissions by 80% by 2050 compared to 2014 levels
Robert Noel, chief executive of Land Securities, said: “Reducing energy consumption will be the primary vehicle in achieving our goals. We are very pleased to be the first property company to sign up to EP100, ensuring we will increase our energy productivity for the benefit of our customers.”
Among its efforts to achieve greater energy productivity, the property firm will increase its investment in LED lighting across its retail portfolio, as well as work with customers to ensure that all floor space is of a minimum energy efficiency rating.
This reflects the upcoming legislation for minimum energy efficiency in commercial buildings due to be implemented in April 2018, requiring properties to reach a minimum EPC rating of E before new tenancy agreements can be signed.
Land Securities has already reduced its energy consumption in recent years, having cut its total energy use by 6% in June 2016 since the baseline year of 2013/14 via active energy management.
Following a reported 9% fall in energy use at five of its London properties, the company also implemented 43 efficiency measures resulting in savings of approximately £120,000 in the year. This helped to contribute to an overall energy reduction of almost 7,000 MWh compared to the previous year.
