Corporate responsibility | Great Portland Estates

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Great Portland Estates recognises that managing and balancing environmental, social and economic issues is key to ensuring the long-term sustainability of its business and is integral to the Group’s operating approach. During the course of the year ended 31 March 2010 the Group has:

been actively involved on numerous committees within organisations serving to promote and develop the property industry;
ensured employees had a clear understanding of the Group’s Sustainability Framework and how the Group’s corporate responsibility and sustainability objectives and targets should be incorporated into individual’s personal objectives;
fully achieved 24 out of 40 of its corporate responsibility and sustainability targets;
continued its focus on improving the energy efficiency of its buildings; and
consciously invested in the areas surrounding the Group’s portfolio to maximise appeal to current and prospective tenants.

Board oversight

The Board has responsibility for the approval of policy relating to social, environmental and health and safety matters and is determined to apply high standards to social, environmental and ethical issues in all areas in which the Group operates including the management of the joint venture operations on behalf of the joint venture partners. The Group’s alignment of corporate responsibility risks with its Corporate Responsibility Value Statement, strategy, and objectives and targets together with the Group’s Health & Safety and Environmental policies are approved by the Board on an annual basis. In addition, the Board receives annual reports on the environment, health and safety and corporate responsibility and regular reports during the course of the year from Toby Courtauld and Timon Drakesmith on health and safety and environmental matters, where appropriate.

Property industry representation

Directors and senior management are encouraged to represent the Group’s views and contribute to the development of the property industry.

Toby Courtauld is a member of the Management Board of the Investment Property Forum and Junior Vice President and member of the Policy Committee of the British Property Federation (“BPF”) and will become President of the BPF in 2011. Timon Drakesmith is also a member of the Finance Committee with the Group’s Head of Financial Reporting and Analysis and Insurance Manager serving on the BPF’s Technical Accounting Group and Insurance Committee respectively. During the course of the year the BPF addressed a range of issues affecting the property industry including construction, sustainability, finance, regeneration, development, commercial and insurance matters. In December 2009, Toby Courtauld became a member The New West End Company Strategic Board.

Neil Thompson serves on the Operations Committee of the Westminster Property Association (“WPA”) an association of property owners and their advisers in the City of Westminster which actively lobbies Westminster City Council and the London Mayor’s office on a full range of planning related topics aimed at improving development within the West End. Neil Thompson is also a member of the management Board of the British Council of Offices involved in the research, development and communication of best practice in all aspects of the office sector, and a member of the Design Review panel of the Commission for the Built Environment (“CABE”), a government agency which aims to improve design standards on development throughout the United Kingdom.

Objectives and targets

The Corporate Responsibility, Health & Safety and Environmental Working Groups chaired by Timon Drakesmith and including representatives from Development, Asset Management and Finance are responsible for the implementation and monitoring of progress of the Group’s corporate responsibility and sustainability targets.

Great Portland Estates set a total of 40 corporate responsibility and sustainability targets at the beginning of 2009 covering the key areas of:

our people;
environment and the portfolio;
tenants and the community;
health and safety;
suppliers; and
investors.

Twenty-four of these were fully achieved. If targets have not been achieved, where relevant, these have been included again for 2010/2011 to emphasise our commitment. To ensure the highest level of achievement, where appropriate, elements of the Group’s objectives and targets are also included within individual employees’ objectives and targets.

How we performed against our key corporate responsibility objectives
To ensure employee personal development through relevant training.	An average of 2.5 days training per employee provided. 148 hours of environmental and sustainability training. 256 hours of health and safety training.
To raise employee awareness of the importance of sustainability throughout the organisation and how it can assist in achieving our long-term business objectives.	Sustainability objectives and targets circulated to all employees. All employees asked to incorporate sustainability objectives and targets into their personal objectives. Training provided to all employees on the Group’s Sustainability Framework.
To monitor and seek to reduce resource consumption: a) ensure existing EPC ratings improved on all refurbishments;	Our only refurbishment affecting an EPC rating was the refurbishment of Percy House where we improved our rating from a D to a C (compared to the benchmark F rating).
b) to reuse or recycle 70% of waste produced for projects covered by Site Waste Management Plans.	Our refurbishment of Kent House was the only project covered by a Site Waste Management Plan – with over 85% of waste recycled.
To encourage all employees and consultants to adopt similar environmental policies and standards to the Group.	All contractors and consultants appointed during the year were required to comply with our environmental policy.
To procure timber used on developments and refurbishments from Forest Stewardship Council certified sources.	At least 90% of timber used in projects during the year was certified by the Forest Stewardship Council ("FSC").
To improve and promote services to tenants.	Building Managers visit properties at least once a week. Asset Managers meet tenants at least twice per year either informally or through formal tenant meetings. Tenant Guide now available to tenants online.