Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Sustainability
• Occupier Engagement

Environmental Achievements

• Switched to 100% renewable electricity sources (wind and solar power)
• Conducted net zero carbon asset audits to identify retrofit measures

Social Achievements

• Developed an occupier engagement plan including surveys and training
• Upskilling teams on sustainability

Governance Achievements

• Commitment to achieve net zero carbon by 2040, aligned with the Better Building Partnership’s (BBP) Climate Commitment

Climate Goals & Targets

Environmental Challenges

• Transition to gas has been slower and more challenging, particularly for Food & Beverage occupiers
• Occupier-related emissions represent the largest proportion of the carbon footprint

Mitigation Strategies

• Exploring potential to increase on-site renewable energy (solar PV)
• Implementing an enhanced occupier engagement strategy focused on collaboration and training on sustainability

Supply Chain Management

Responsible Procurement

• Developing sustainable guidelines for refurbishments and fit-outs

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UK Green Building Council (UKGBC), Better Building Partnership (BBP), Carbon Risk Real Estate Monitor (CRREM)

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• People & Community
• Governance

Environmental Achievements

• Reduced natural gas consumption by 41%
• Reduced electricity consumption by 2%
• Zero waste sent to landfill from centres
• 100% renewable electricity across all assets
• 2,377 trees planted by Snozone, offsetting 600 tons of CO2

Social Achievements

• Launched Stress and Mental Wellbeing Policy
• 12 employees completed Mental Health First Aider course
• C&R employees became mentors to young people through STEP NOW
• Rolled out World Host’s Inclusive Service Training programme to over 100 staff
• Supported over 167 local charities

Governance Achievements

• Established ESG Committee
• Completed equity raise and debt restructuring
• Developed a net zero carbon strategy

Climate Goals & Targets

Environmental Challenges

• Impact of Covid-19 pandemic on retail sales and property valuations
• Structural changes in the retail sector
• High debt levels
• Climate change

Mitigation Strategies

• Debt restructuring and equity raise
• Reclassification of assets as held for sale
• Focus on essential, non-discretionary retail and services
• Development of net zero carbon strategy
• Proactive engagement with lenders and tenants

Supply Chain Management

Responsible Procurement

• Engagement with suppliers to reduce Scope 3 emissions

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes

Opportunities

• Reducing operational costs and capital expenditure

Reporting Standards

Frameworks Used: TCFD, UN SDGs

Certifications: Cyber Essentials Plus, ISO 27001

UN Sustainable Development Goals

• Goal 3: Good Health and Well-being
• Goal 8: Decent Work and Economic Growth
• Goal 11: Sustainable Cities and Communities
• Goal 5: Gender Equality
• Goal 13: Climate Action
• Goal 4: Quality Education
• Goal 1: No Poverty

Initiatives contribute to these goals through various programs and partnerships

Awards & Recognition

• Snozone voted “Best Sporting Venue” at the School Travel Awards

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Responsibility
• Community Engagement
• Governance

Environmental Achievements

• Reduced energy consumption by 8% compared to 2022
• Reduced Scope 1 & 2 emissions by 35% since 2019 (location-based)
• 100% of shopping centres' electricity from renewable sources
• 12,627 trees planted between C&R and Snozone, offsetting 403 tons of CO2
• Improved EPC rating of three centres from D to B

Social Achievements

• Launched new cultural principles: Bring the World In, Uplift the Everyday, Make it Count, Win as One
• 91% of respondents to diversity and inclusion survey say C&R cultivates an inclusive environment
• 74% team retention at Snozone
• Supported 140 charities and 153 community groups
• Provided or raised £370,000 in community financial support

Governance Achievements

• Completed acquisition of Gyle Shopping Centre
• Implemented a Climate Adaptation Plan
• Established an EPC Management Dashboard
• Implemented a Social Impact Measurement and Management Framework
• Complied with 11 of 11 TCFD recommendations

Climate Goals & Targets

Environmental Challenges

• Reduced car park usage due to modal shift and development impacts
• Occupier failures (e.g., Wilko administration)
• Managing Scope 3 emissions (occupier energy consumption)
• Maintaining high occupancy levels amidst economic uncertainty
• Rising interest rates and inflation impacting consumer spending

Mitigation Strategies

• Exploring alternative car park uses (EV charging, storage, logistics)
• Swiftly re-letting vacated Wilko units to B&M
• Commissioned online solution for accurate occupier energy data collection
• Disciplined approach to leasing, focusing on non-discretionary retail
• Proactive debt management, securing debt at competitive rates and extending loan maturities

Supply Chain Management

Responsible Procurement

• Modern Slavery Act compliance
• Anti-bribery and corruption Act compliance

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Storm damage
• Heat stress
• Water stress and drought

Transition Risks

• Energy decarbonisation
• Financial market uncertainty
• Increased regulation
• Shifting market expectations
• Insurance challenges
• Supply chain disruptions

Opportunities

• Harnessing low-carbon technologies
• Securing premium tenants with robust sustainability strategies

Reporting Standards

Frameworks Used: GRESB, BBP Climate Commitment, TCFD, EPRA sBPR, GHG Protocol

Certifications: REGO (Renewable Energy Guarantees of Origin), ISO 14001, Cyber Essentials Plus, BREEAM Very Good (The Mall Wood Green)

UN Sustainable Development Goals

• Goal 1: No Poverty
• Goal 3: Good Health and Well-being
• Goal 4: Quality Education
• Goal 5: Gender Equality
• Goal 8: Decent Work and Economic Growth
• Goal 11: Sustainable Cities and Communities
• Goal 13: Climate Action

Initiatives contributing to these goals are detailed throughout the ESG report.

Awards & Recognition

• REVO Awards (Asset Management Initiative, Community Initiative)
• HSJ Partnership Awards (Best Consultancy Partnership)
• School Travel Awards (Best Sporting Venue)