Hammerson and Sir Robert McAlpine publish Natural Capital Report

20 Mar 2017

Hammerson and Sir Robert McAlpine collaborate on new report on Natural Capital

Hammerson and Sir Robert McAlpine have published a report commissioned from Trucost evaluating the Natural Capital implications of different technologies employed across two different projects: WestQuay Watermark and Brent Cross. Focusing on gas fired Combined Heat and Power, LED lighting and the installation of a photovoltaic array, the report investigates the Natural Capital costs and benefits of each technology relative to a base line scenario. 

 A workshop was held in September with a cross-industry group to explore the implications of the findings of the research for different actors within the construction and development process. A short write up of the discussion is available here.

The executive summary can be downloaded here

The full report can be downloaded here

For more information on Natural Capital and the Natural Capital Protocols, visit the Natural Capital Coalition website.

Building on Previous Research

In 2013 Hammerson commissioned research to quantify the long-term socio-economic impacts of its shopping centres. This major research project provided valuable insight into the social and economic value generated within a local area by a well managed shopping centre.

This research examined the social return on investment specifically in retail assets in local communities. Drawing on data from our UK wide shopping centre portfolio and including detailed case studies of both Bullring in Birmingham and West Quay in Southampton, the research reveals the significant positive impacts shopping centres can have. This includes employment and related benefits such as improvements in health and wellbeing and local skills and prosperity but also captures heightened civic pride and quality of life through improvements to public realm.

The research revealed that over 30,000 people are employed across our shopping centre portfolio and an estimated £94 million is generated in local property taxes. 87% of people employed in our centres were found to be local and the total annual wage bill was estimated at over £420 million. 

The research provided a strong foundation for a placemaking study, which began in 2016 and will complete in 2017.  The new 2017 research will shape the metrics and activities for achieving our objective to be Net Positive for Social Economic impacts by 2030. The research findings will be launched in Spring 2017.