Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Increased recycling rate from 31% to 57% by December 2008.
• Reduced energy use in CWG managed and operated buildings by 6% to 248 kWh/m2.
• Renewable energy accounted for 84.6% of the fuel mix.

Social Achievements

• Launched East London Business Place, securing over £26 million in contracts for local businesses.
• Canary Wharf Contractors Limited named in The Sunday Times 50 Best Green Companies in 2008.
• Supported various community initiatives, including the Bangladesh Youth Football Academy and Canary Wharf Summer Sports Programme.

Governance Achievements

• Independent verification of performance by Bureau Veritas.
• Achieved 80.2% of all environmental and social targets.

Climate Goals & Targets

Environmental Challenges

• Increased total energy consumption due to fit-out works in new construction areas.
• Recycling rate below initial target of 55% (though significantly improved by year-end).

Mitigation Strategies

• Implementation of a dual bin system for waste separation.
• Introduction of WEEE and fluorescent tube collection points.
• Installation of cardboard bailers.
• Investigation of new technologies for food waste management (composting and anaerobic digestion).
• Feasibility study for transporting waste by water.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• East London Business Place initiative to support local SMEs.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Energy efficiency improvements in new buildings, tri-generation technologies.

Reporting Standards

Frameworks Used: GRI, AA1000, ABI

Certifications: ISO 14001

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• The Sunday Times Top 50 Green Companies
• Considerate Constructors Scheme Bronze Award (2 awards)
• Green Apple Silver Award

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Economic

Environmental Achievements

• Recycled, incinerated, or composted 79% of all waste generated across the Estate.
• Reduced energy consumption in CWG managed and operated buildings from 248kWh/m² to 232kWh/m² (6.4% reduction).
• Reduced total energy consumption by 11.2% (from 311.5GWh to 276.7GWh).
• Reduced carbon footprint (landlord areas only) by 5.91% (to 55,175 tCO2).
• Reduced water consumption by 17.82% (to 344,278 cubic meters).
• Added three 'green' roofs on new office and retail buildings.

Social Achievements

• Created over 400 new jobs in 2009 through restaurant openings.
• East London Business Place (ELBP) helped over 2,000 small and medium-sized businesses win over £37.6m of contracts.
• Launched a new education program for East London primary school children.
• Skillsmatch placed 611 local people into jobs.
• Supported various community initiatives, including sports programs and youth development schemes.

Governance Achievements

• Named one of The Sunday Times 60 Best Green Companies in the UK.
• Independently verified performance against environmental and social targets by Bureau Veritas.

Climate Goals & Targets

Environmental Challenges

• Increasing overall recycling rates among Canary Wharf-based companies.
• Reducing residual waste sent to landfill.

Mitigation Strategies

• Working with Canary Wharf-based companies to increase recycling rates.
• Implementing strategies to reduce residual waste sent to landfill.

Supply Chain Management

Supplier Audits: Evaluated ten suppliers/contractors based on spend and environmental impact.

Responsible Procurement

• Established environmental weighting within revised procurement procedure.
• Maximized use of renewable sources in Crossrail project procurement.

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather events

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 14001

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• The Sunday Times 60 Best Green Companies
• Silver Green Apple Award

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Economic

Environmental Achievements

• Reduced carbon emissions by close to 1,000 tonnes per annum in One Canada Square through retrospective fit out.
• Recycled 99% of construction waste generated from building sites.
• Achieved 72% waste recycled or composted in December 2010 (compared to 39% in January 2010).

Social Achievements

• East London Business Place helped local SMEs secure 3,114 contracts totaling over £79.6 million.
• Canary Wharf’s working population reached 95,000 in 2010, with approximately one in four jobs belonging to a local borough resident.
• Supported various sports clubs and groups, culminating in the Bangladesh Youth Football Development Programme with 16 out of 23 graduates signing contracts with professional clubs.

Governance Achievements

• Independent verification of corporate responsibility activities by Bureau Veritas.

Climate Goals & Targets

Environmental Challenges

• Increase in energy use in managed buildings due to increased working population.
• Poverty and unemployment persisting in surrounding areas.

Mitigation Strategies

• Energy efficiency improvements in One Canada Square.
• Investment in local employment and training initiatives (e.g., Fastlaners, University of East London graduate assessment centre, City Gateway).

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• East London Business Place initiative

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Sunday Times Best Green Companies, Property Week Offices Developer of the Year, Christie’s Award for Best Corporate Art Collection

Environmental Metrics

ESG Focus Areas

• Economic development
• Community engagement
• People
• Environment
• Suppliers and partners

Environmental Achievements

• Achieved re-certification to the Carbon Trust Standard
• Switched to 100% renewable energy for Canary Wharf portfolio
• Recycled 72% of all office waste
• Improved transport at Canary Wharf, adding 300 Barclays Cycle Hire docking stations

Social Achievements

• Established the South London Procurement Network
• Helped 838 local people find work at Canary Wharf through Skillsmatch
• Secured £111 million of business for local companies through the East London Business Place scheme
• Improved customer service procedures (achieving 86% of high standards)

Governance Achievements

• Amended corporate responsibility policy as part of Integrated Management System (certified to ISO 14001)
• Aligned sustainability reporting with GRI and EPRA standards (achieving GRI B+ level of disclosure)
• Implemented a ‘mystery shopper’ audit of services and amenities

Climate Goals & Targets

Environmental Challenges

• Rising energy costs and wider climate change concerns
• High levels of poverty in local boroughs
• UK drought impacting water usage
• Canary Wharf Limited and Canary Wharf Management Limited fell short of local expenditure targets

Mitigation Strategies

• Providing increasingly energy-efficient facilities through innovative new designs and effective retrofitting
• Initiating education, training and brokerage programmes to maximise opportunities for local job seekers
• Implementing measures to minimise water use (e.g., processed grey water in toilets, non-flush urinals)
• Equipping key procurement personnel with access to a database of local suppliers

Supply Chain Management

Responsible Procurement

• Targeted procurement to bolster local economy
• East London Business Place scheme
• South London Procurement Network
• Fit for Legacy supply chain support project

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI (B+ level of disclosure), EPRA Best Practices Recommendations

Certifications: ISO 14001, Carbon Trust Standard

Third-party Assurance: Bureau Veritas

Awards & Recognition

• Royal Society for the Prevention of Accidents (RoSPA) Gold Award
• Numerous RoSPA and Considerate Constructors Scheme awards

Environmental Metrics

ESG Focus Areas

• Economic Development and Community
• Environment
• Our People
• Working Collaboratively

Environmental Achievements

• Achieved a BREEAM Excellent rating for 25 Churchill Place (most sustainable building on the estate)
• Reduced energy costs by 48% and carbon emissions by 83 tonnes per annum in One Canada Square lobby by replacing lighting
• Increased retail waste recycling by 22% to 67%
• Achieved 99% recycling of demolition and excavation waste
• Became the first property company in the world to attain the Carbon Trust Standard for waste
• Reduced total and normalized direct and indirect GHG emissions

Social Achievements

• Launched a pilot employee well-being program resulting in a significant reduction in absence among participants and positive employee feedback
• Invested £2.1 million in community projects
• Exceeded target for work placements (115 placements, 50 from Tower Hamlets)
• Established the South London Procurement Network (SLPN) to support local businesses

Governance Achievements

• Secured a B+ ranking from GRI for sustainability reporting
• Aligned sustainability reports with EPRA recommendations
• Implemented anti-corruption training for 90% of the workforce

Climate Goals & Targets

Environmental Challenges

• Meeting the demands of tenants for more sustainable and flexible workspaces
• Reducing resource consumption and emissions across operations
• Improving waste performance in construction operations
• Addressing compatibility issues in converting traffic crossing lights to LV and LED lamps

Mitigation Strategies

• Working closely with tenants to create bespoke, sustainable buildings
• Implementing initiatives to reduce tenant resource consumption and emissions (bespoke Building Sustainability Management Plan)
• Updating key performance indicators to align with BREEAM and focus on site resource management
• Works in progress to address compatibility issues with traffic light conversion

Supply Chain Management

Responsible Procurement

• Local procurement initiatives (ELBP, SLPN)
• BES 6001 standard for responsible sourcing of construction products
• Encouraging sustainable practices among suppliers and contractors

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, EPRA

Certifications: ISO 14001:2004, Carbon Trust Standard for Waste

Third-party Assurance: Bureau Veritas

Awards & Recognition

• Most Considerate Site Award – Runner Up: 20 Fenchurch Street
• Gold Level International CSR Excellence Award
• RoSPA Gold Award: 20 Fenchurch St Project
• Carbon Trust Standard for Waste
• RoSPA Gold Award: Crossrail Project
• Considerate Constructors Scheme Gold: 20 Fenchurch Street
• Gold Level Green Apple for Corporate Social Responsibility
• RoSPA Gold Award: Riverside South Project
• Considerate Constructors Scheme Bronze: 25 Churchill Place
• RoSPA Gold Award: CWML
• RoSPA Gold Award: 25 Churchill Place Project
• Considerate Constructors Scheme Bronze: Canary Wharf Crossrail

Environmental Metrics

ESG Focus Areas

• Developing economies
• Building communities and relationships
• Protecting the environment

Environmental Achievements

• Reduced group-level energy use from 89.5m kWh to 82.5m kWh
• Achieved zero waste to landfill across CWML-managed areas for a fifth consecutive year
• 20 Fenchurch Street achieved an 80.2% BREEAM rating (achieved in 2015)

Social Achievements

• Became the first major UK property and construction company accredited as a London Living Wage employer
• Employee turnover rate reduced by 3% to 10%
• Invested £2.28 million in community engagement projects and programmes

Governance Achievements

• 898 (79%) of 1,140 employees completed development training, including anti-corruption training
• Established a cross-functional sustainability governance structure (CRG)

Climate Goals & Targets

Environmental Challenges

• Increased waste generation due to significant fit-out and finishing work in 2014
• Increased water and energy use due to a long, hot summer
• High youth unemployment in surrounding areas

Mitigation Strategies

• Implemented energy-saving programmes (e.g., LED lighting, chiller optimization)
• Developed a five-year waste strategy with ambitious recycling targets
• Partnered with local organizations to provide training and employment opportunities (Skillsmatch, ELBP, SLPN)

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Sustainability clauses in contracts; encouragement of local procurement; focus on partners sharing Canary Wharf Group's values

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI G4

Certifications: ISO 14001:2004

Third-party Assurance: Bureau Veritas

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Considerate Constructors Scheme awards; Carbon Trust Standard recertification; Forest Stewardship Council certificate; BREEAM Excellent certificate; EU GreenBuilding Partner status; RoSPA Gold Awards

Environmental Metrics

ESG Focus Areas

• Climate Action
• Waste Reduction
• Biodiversity
• Community Engagement
• Workforce Diversity

Environmental Achievements

• 49% reduction in Scope 1 & 2 emissions (2012-2021)
• 0% waste to landfill in managed areas (2021)
• 75% waste recycled in retail (2021)
• 70% waste recycled in managed office (2021)
• 60% waste recycled in infrastructure (2021)
• 100% renewable electricity for all managed assets

Social Achievements

• Established the ‘Tower Hamlets and Canary Wharf Fund’ in 1987 to promote education and training for local residents
• Over £2bn generated for the local economy since 1997 through local supplier engagement
• Launched ‘Insight & Inspire’ in 2020, a series of webinars for women in leadership positions
• Reduction of gender pay gap from 14% to 7% (June 2022)
• 15 active apprentices and 44 employees in mentorship program (2020)

Governance Achievements

• Established a Sustainability-Linked Financing Framework aligned with LMA and ICMA principles
• Issued inaugural Green Bond in 2021
• All building sites certified under the Considerate Constructors Scheme, with Southbank Place and Wood Wharf achieving Ultra Site certification

Climate Goals & Targets

Environmental Challenges

• Delays or reluctancy by tenants to switch to renewable energy contracts or delays in obtaining PPA
• Delays in vehicle fleet replacement
• Slower pace of reduction in energy intensity
• Failure to successfully engage with suppliers
• Lack of sufficient resources (teams, knowledge, access to data) within suppliers to develop and establish targets
• Inability of or delays by SBTi to validate the targets submitted by the suppliers
• Inability by CWG to collect the required data and/or secure limited assurance over performance against selected KPI

Mitigation Strategies

• Reducing natural gas and fuel consumption
• Reducing Energy Use Intensity of new and existing buildings
• Supporting tenants with switching to renewable energy and procuring Power Purchase Agreements (PPA)
• Increasing provision of on-site renewable energy
• Vehicle fleet replacement programme
• Actively engaging with suppliers and providing support in setting SBTs
• Providing suppliers with access to resources including Supply Chain Sustainability School
• Engaging with specialists to facilitate the process

Supply Chain Management

Responsible Procurement

• Engagement with local suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: EPRA, SBTi, TCFD

Certifications: ISO 50001

Third-party Assurance: ISS-ESG (pre-issuance); Independent external auditor (post-issuance)

UN Sustainable Development Goals

• SDG 11
• SDG 13

GHG emission reduction, biodiversity initiatives, community engagement

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Action
• Beyond Zero Waste
• Wellbeing
• Responsible Business

Environmental Achievements

• 34% reduction in overall emissions since 2012
• ZERO waste to landfill from our managed areas since 2009
• 3,576,293 million pieces of single-use plastic avoided or recycled in 2019
• 1st commercial centre to achieve Plastic Free Communities status

Social Achievements

• £216.5 million in local spend in 2019
• 1,711 local people attended community insight events at our sites and offices in 2019
• 36% of CWG’s spend was with local businesses in 2019
• £2.9 million in donations and in-kind support to local community in 2019
• Launched ‘Time To…’, a wellbeing campaign that focuses on individuals’ physical and mental wellbeing.

Governance Achievements

• Established a Corporate Responsibility Group (CRG) with four sub-working groups to oversee sustainability initiatives.
• Completed a materiality assessment in 2018, identifying 17 material areas to prioritize.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supporting local businesses through initiatives such as East London Business Place and South London Procurement Network

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Bureau Veritas UK Ltd.

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Action
• Wellbeing & Biodiversity
• Responsible Business
• Beyond Zero Waste

Environmental Achievements

• 49% decrease in Scope 1 and 2 emissions since 2012
• 36% decrease in water consumption since 2012
• 100% of electricity purchased from renewable sources since 2012
• Zero waste to landfill from managed areas since 2009

Social Achievements

• 42% of CWG’s spend in 2020 was in London and the Thames Gateway
• 34 programmes supported through Covid hardship grants
• 1,060 East London firms supported by East London Business Place
• 2 million hours worked without a RIDDOR reportable accident on our Wood Wharf development

Governance Achievements

• 8th consecutive year that Canary Wharf Management have received RoSPA Gold Award
• 5 GREEN STARS on our 2020 GRESB disclosure
• BREEAM Outstanding certification achieved on One & Five Bank Street
• WINNER of two IEMA Sustainability Impact Awards in 2020

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic impacted operations and progress on some targets.

Mitigation Strategies

• Flexible working, training, and ongoing support for employee mental and physical health.
• Internal and external surveys to understand community needs.
• Developed online sustainability training as a replacement for in-person training halted by Covid.

Supply Chain Management

Responsible Procurement

• Science Based Targets for suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRESB, BREEAM, EPRA Sustainability Reporting Best Practices Recommendations

Certifications: BREEAM Outstanding

Third-party Assurance: Bureau Veritas UK Limited

Awards & Recognition

• Two IEMA Sustainability Impact Awards

Environmental Metrics

ESG Focus Areas

• Climate Action
• Driving Circularity
• Nature Positive
• People

Environmental Achievements

• 37% reduction in Scope 1 & 2 emissions compared to 2012
• Zero waste to landfill from managed areas since 2009
• 12 FSC® certificates received in 2021
• Over 10,000 new plants added through Phase One of Greening the Estate

Social Achievements

• 48% of spend was with local businesses in 2021
• Over 280 staff participated in volunteering activities
• Five ED&I networks established
• Average hourly gender pay gap reduced from 14% to 7%
• 13 four-week internships provided through the ELBA Edge Project, with four leading to full-time employment

Governance Achievements

• Science Based Targets set and verified by the Science Based Targets initiative
• Net Zero Carbon Pathway published
• Partnership with the Eden Project

Climate Goals & Targets

Environmental Challenges

• Scope 3 emissions understanding
• Transitioning to a climate and nature resilient world
• Increasing extreme weather events
• Growing climate crisis impacting London
• High embodied carbon associated with new builds
• Youth unemployment in East London

Mitigation Strategies

• Exercise to fully understand Scope 3 emissions
• Science Based Targets (SBTs) for emissions reduction
• Net Zero Carbon Pathway to achieve net zero by 2030
• Assessment of portfolio in line with TCFD
• Focus on retrofitting existing buildings
• Partnership with Eden Project for Greening the Estate
• ELBA Edge Project to provide employability support and digital skills to young people

Supply Chain Management

Supplier Audits: 3.38% of supply chain by emissions have their own SBTs as of 2021

Responsible Procurement

• Engagement with Supply Chain Sustainability School (SCSS)

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Scorching temperatures

Transition Risks

• Soaring energy prices
• Regulatory changes

Reporting Standards

Frameworks Used: EPRA sBPR, TCFD, Science Based Targets initiative

Certifications: WELL Health & Safety, FSC®, BREEAM

Third-party Assurance: Bureau Veritas UK Ltd.

Awards & Recognition

• Global Real Estate Sustainability Benchmark 2021: Five Green Stars – 94%
• CDP 2021: Climate Change Disclosure rating: B; Supplier Engagement Rating (SER): A
• Royal Society for Prevention of Accidents (RoSPA) Awards 2021: Gold Medal Award – Canary Wharf Management Limited & CWCL – Wood Wharf
• Evening Standard New Homes Awards 2021
• International Property Awards 2021
• edie Sustainability Leaders Awards 2021
• Construction News Awards 2020
• Green Flag Awards 2021
• Homeviews Awards 2020
• WhatHouse? Awards 2021
• Council on Tall Buildings and Urban Habitat Annual Awards 2021

Environmental Metrics

ESG Focus Areas

• Climate Action
• Nature Positive
• Driving Circularity
• Social Value

Environmental Achievements

• 47% reduction in Scope 1, 2 and Scope 3 emissions from downstream leased assets from a 2017 baseline (market-based approach)
• 6.4% of suppliers had approved SBTs by the end of 2022
• Implementation of concrete mixes with up to 70% cement replacement on Wood Wharf site
• 100% renewable electricity for all CWM managed buildings
• Zero waste to landfill in managed areas for 13 years

Social Achievements

• Delivered £99.2m of social and local economic value in 2022
• 30 CWG employees volunteered in local schools through The Switch
• Supported 85 weeks of work experience placements
• Hosted a Food, Beverage & Hospitality Jobs Fair

Governance Achievements

• Published Sustainability-linked Financing Framework and secured associated sustainability-linked RCF
• Published Green Bond Framework and issued green bonds worth over £900 million
• Received a GRESB 5-star rating and recognized as a global sector leader

Climate Goals & Targets

Environmental Challenges

• Decarbonisation of concrete
• Low global supply chain uptake of SBTs
• Meeting MEES compliance by 2030
• Climate-related physical and transition risks (flooding, extreme heat, regulatory changes)

Mitigation Strategies

• Joined ConcreteZero alliance
• Supporting suppliers with setting SBTs through workshops and mentorship
• Undertaking building performance assessments and implementing Demand Logic
• Developing asset-specific net zero pathways
• Actively managing physical risks through Resilience team and Thames Estuary 2100 Plan
• Incorporating climate risk costs into Group-wide risk register

Supply Chain Management

Responsible Procurement

• Supporting suppliers with setting SBTs
• Developing a mentorship scheme for suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Extreme heat

Transition Risks

• MEES legislation
• New London Plan legislation
• Market demands for more efficient buildings

Opportunities

• Retrofit and upgrade of existing buildings
• Design and build of energy-efficient/net-zero buildings
• R&D of new low-carbon heating solutions
• Energy security and reduced energy costs
• Sustainability as a market differentiator

Reporting Standards

Frameworks Used: GRESB, EPRA Sustainability Best Practices Recommendations, TCFD, CDP

Certifications: ISO 14001, ISO 50001, BREEAM, Code for Sustainable Homes

Third-party Assurance: Bureau Veritas UK Ltd.

Sustainable Products & Innovation

• Modular bathroom pods

Awards & Recognition

• GRESB 5-star rating
• Global sector leader (GRESB)
• BREEAM certificates
• Code for Sustainable Homes certificates
• RoSPA Gold Medal Award
• London in Bloom Gold Award
• BALI National Landscape Awards
• New London Awards Winner
• What House? Awards Bronze
• Property Week Placemaking Award

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol, Streamlined Energy and Carbon Reporting (SECR), Energy Savings Opportunity Scheme (ESOS), UK Mandatory Climate Disclosures (MCD), Science Based Targets (SBTs), GRESB, CDP, Real Estate Environmental Benchmark (REEB), Better Buildings Partnership (BBP) Climate Commitment, EPRA Sustainability Best Practice Recommendations (sBPR), TCFD

Third-party Assurance: externally appointed consultant (limited assurance in line with ISAE3000)