2016 Performance Overview

In 2016 we have exceeded our carbon emissions target, retrofitted a PV array at Westquay shopping centre and delivered excellent employment and skills outputs at our developments.

We are pleased with the progress we have made against our sustainability targets during 2016. We set ambitious five-year targets for our environmental and socio-economic performance at the end of 2015 and initial data gathered as part of our annual reporting process shows we are making good progress just one year in.

Our fully assured, EPRA and GRI compliant sustainability report will be published later in the Spring when all year end data is finalised. This data update is provided to support our year end reporting.  Our basis of reporting can be downloaded here.

Particular achievements in 2016 include:

  • 9% reduction in carbon emissions from our managed assets across the Group, using location-based emissions factors. Our carbon emissions reporting is independently assured.  The assurance statement is available here .
  • The agreement of clean energy contracts across the UK shopping centre portfolio. This, in combination with energy demand reduction measures, has reduced our carbon emissions by over 50% year-on-year in 2016, using market-based factors.
  • The electricity demand reduction of 20% achieved from investment in LED and new controls at Bullring. This generated over £200,000 of savings in 2016.
  • 100% diversion of waste from landfill across the UK shopping centre portfolio
  • The delivery of two BREEAM Excellent rated development schemes 
  • The installation of our first retro-fitted PV array at Westquay
  • Great feedback on our staff survey on Hammerson's commitment to sustainability

"We are delighted that in our 2016 staff survey, for the second year running, 89% of staff considered Hammerson to be serious in its commitment to sustainability. This score exceeds the survey benchmarks and is an important indicator of our success in embedding sustainability across our teams." David Atkins, CEO. 

Our performance against our 2016 targets under each of our five Positive Places commitments can be seen here

Our Plans for 2017

As part of our programme for achieving our medium term targets we set annual targets for the assets and the business to work towards. Key targets for 2017 include:

Our targets and objectives for 2017 include:

Protect and Enhance

  • Install one additional PV array on an existing centre
  • Extend LED roll – out on the shopping centre and retail parks partfolios
  • Reduce landlord water intensity by 10%
  • Reduce carbon intensity of the business by a further 5%
  • Reduce electricity consumption across the like for like managed assets by a further 5% year-on-year

Challenge and Innovate

  • Deliver a carbon neutral retail park
  • Publish a comprehensive carbon footprint of the business
  • Publish updated socio-economic metrics for the managed assets

Partner and Collaborate

  • Extend take up of the Positive Growth Awards
  • Build further on our investor engagement work

Serve and Invest

  • Expand our work with Pop-up Business and Teenage Markets to support local entrepreneurs

Upskills and Inspire

  • Continue to provide our senior team with sustainability leadership training through the Cambridge Institute of Sustainability Leadership programme
  • Provide staff with sustainability training via our online learning platform
  • Maintain the positive sustainability engagement figures of our staff through volunteering and other community engagement opportunities

Making sure we are doing enough

As we move further into our latest medium term targets we are increasingly identifying opportunities to extend the scope and ambition of our sustainability strategy. This is coinciding with increasing evidence of the need for more urgent and extensive action to be taken, particularly by businesses. Two areas are of particular concern:

  • pressure on the UK electricity supply - this has the potential to increase price volatility and ultimately drive costs up in the short, medium and long term; and,
  • the positive action required to reduce carbon emissions if we are to achieve the critical target of maintaining climate change at less than 2⁰C. Failure to achieve this is expected to have further, significant business cost implications.

This has led us to review our current strategy with a view to extending it. In 2017 we will announce an update to our medium term sustainability strategy and targets. This will go further than our previous plans with a programme of work that feel is necessary both to mitigate energy security and pricing risk for the business and to support the wider response of leading businesses to climate change risk.

Investor Benchmark Scores 2016

CDPB
EPRA Best PracticeGold Award
GRESBGreen Star
DJSI69
FTSE 4 Good82
Carbon Clear FTSE 10014/99
-9%

We reduced carbon emissions from energy across the group by 9% year-on-year in 2016

100%

100% diversion of waste from landfill in the UK shopping centres in 2016

100%