24th March 2017

Hammerson builds a positive strategy

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The real estate firm believes it’s the first in its field globally to launch the strategy which aims to give back more than it takes from the environment and society.

The strategy, which will be delivered through its existing Positive Places sustainability platform, will set ambitious targets across four key pillars with the aim of having a net positive impact across its pan European portfolio by 2030.

This strategy is in line with the company’s goal to create retail destinations that deliver value for all stakeholders and create positive and sustainable long term impacts for future generations.

Hammerson’s objective is to be Net Positive in four areas – carbon, resource use, water use and socio-economic.

Since 2006, Hammerson has reduced carbon emissions from across its managed assets by approximately 33,000 tonnes on a cumulative basis, equivalent to the annual carbon emissions of 3,800 UK households.

Since 2015, 94 per cent of waste has been diverted from landfill, equivalent to the weight of 6,600 adult elephants. And in 2016, initiatives to limit water use resulted in a reduction of 10,742m3 of water from the UK portfolio, equivalent to 240,000 showers.

By 2030, Hammerson aims to remove a total of 757,200 tonnes of carbon emissions from its operations under its Net Positive targets, which is equivalent to the annual carbon emissions of 85,000 households.

David Atkins, CEO of Hammerson plc, said: “Over the past ten years, our industry leading sustainability strategy has achieved significant carbon and energy savings and delivered meaningful socio-economic impacts for the local communities in which we operate. Net Positive will allow us to go even further.

“Working with our retail tenants, contractors, consultants and suppliers we are already delivering projects that contribute to this commitment. This year, we expect to deliver our first carbon neutral development and have 100 per cent clean electricity contracts across our UK and Ireland shopping centre portfolios.”

JLL Upstream Sustainability Services provided consultancy support, data analysis and advice for Hammerson’s Net Positive initiative.