Hammerson announces that it has cut carbon emissions across its portfolio as a result of a series of energy-saving initiatives implemented in the UK and France.
The Company set a baseline year of 2006 against which to measure its carbon emissions, targeting a 19% reduction in its UK portfolio and an 11% reduction in France by 2010. Since 2006, it has to date achieved like-for-like reductions of 15.6% in its UK shopping center portfolio; 4.8% in UK offices; 17.8% in French shopping centers and 6.7% in French offices.
The results are published in Hammerson's 2008 Corporate Responsibility Report. The Company has sought to improve its disclosure, for the first time reporting using Global Reporting Initiative guidelines, achieving level B (self-certified). It has also adopted the Connected Reporting Framework, developed by Accounting for Sustainability, as a tool to demonstrate the link between investment in sustainability initiatives, and environmental, social and economic performance.
Other highlights of the report include:
Training and education programmes provided for 6,000 retail and leisure jobs created at new shopping centers in Leicester and Bristol. At Highcross, Leicester, 72% of new employees were previously unemployed: and at Cabot Circus, Bristol, 50%.
370 Green Leases signed with retailers and office occupiers since the lease's introduction in 2007. In 2008, Hammerson rolled out this initiative to France, signing eight Green Leases in the final quarter of 2008.
Two BREEAM Excellent environmental ratings awarded for Cabot Circus, and 60 Threadneedle Street, an office development in the City of London.
Cost savings as a result of environmental initiatives. In the retail fit-out of Cabot Circus, Bristol, Hammerson saved £600,000 85-95% of waste recycled during retail fit-out at Cabot Circus, after Hammerson assumed responsibility for waste management in the retail fit-out of 103 stores. This also reduced the cost of the construction tender price by £600,000. Hammerson also recycled 85% of waste produced during demolition at O'Parinor, a major retail extension to a shopping center to the north of Paris.
82% of targets fully achieved or in progress in 2008. For the first time, Hammerson aligned reporting in the UK and France by setting and reporting on comparable targets.
Paul Edwards, Head of Sustainability, said: "Our approach is to ensure that our investment in sustainable initiatives is properly costed, and designed to add value to the business at all stages. In 2008 we made major progress in our carbon reduction programmes, with new initiatives saving over £500,000 per annum for Hammerson and our customers and 3,000 tonnes of carbon. We also extended the reach of our education programmes, forming partnerships with Government bodies to provide training for long-term unemployed people for 6,000 retail and leisure jobs we created at our retail developments in Bristol and Leicester."
"In 2009 our focus remains on sustainability solutions which reduce costs for our occupiers and for ourselves. We have set ourselves long-term targets to reduce waste and carbon emissions and, in 2009, will audit our water consumption in order to establish a plan for reduction. Following successes in 2008, including the roll-out of our Green Lease, we continue to engage with occupiers to help them to reduce their consumption of natural resources and manage costs."