Net Zero Pathway

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NET ZERO PATHWAY


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CONTENTS Introduction 4 Baseline 6 Pathway Best Practice 8 • Pathway Action 1: Tackling Embodied Carbon

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• Pathway Action 2: Reducing Operational Impacts

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• Pathway Action 3: Maximising Renewables

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• Pathway Action 4: Offsetting

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Delivery 16 • Appendix A 18 • Appendix B 19 • Contact 21

C A D O G A N | N E T Z E RO PAT H WAY



I N T RO D U C T I O N

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C

adogan has a 300-year history of property ownership, management and development in Chelsea, with stewardship at its heart. Our long-term commitment comes with responsibility to ensure that we are making a positive contribution towards a sustainable environment, protecting the area’s unique heritage and supporting a thriving community. Our goal to become a net zero emission Estate by 2030 is part of our wider sustainability vision for the future, Chelsea 2030. We have signed the Better Building Partnership Climate Change Commitment to publish how we will become a net zero carbon business by 2030 - this document summarises our actions to achieve this over the next decade, reducing our emissions across our areas of impact to drastically reduce our carbon footprint, with responsible principles for offsetting the residual remainder. We recognise our role as one in which we can bring people together, supporting innovation and acting as a catalyst for change. With “the next few years probably the most important in our history”* in terms of global climate change, this collaboration and working in partnership is more vital than ever.

*Intergovernmental Panel on Climate Change’s (IPCC)

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FIGURE 1. CHELSEA 2030 TARGETS

AIM WA S T E

TARGET

2030 DETAIL

T1.

Send zero commercial operational and non-hazardous

WA S T E R E D U C T I O N

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construction waste to landfill Reuse or recycle over 90% of commercial operational and construction waste

A I R Q UA L I T Y

T2.

S U P P L I E R C O N S O L I D AT I O N

At least 40% of commercial customers join off-site consolidation scheme

T3.

ZERO-EMISSION SUPPLIERS

80% of suppliers to deliver by zero-emission transport

T4.

ELECTRIC VEHICLE INFR A STRUCTURE

All service bays and residential parking lots to have EV charging by 2025, and all new developments with parking after 2021 to include EV charging

WAT E R

T5.

WAT E R U S E R E D U C T I O N

Reduce absolute mains water consumption by 50%

CARBON EMISSIONS

T6.

NET ZERO EMISSIONS

Net zero emissions across Cadogan's scope of influence

GREEN I N F R A S T RU C T U R E

T 7.

IMPROVED GREEN INFR A STRUCTURE

Improve quality and quantity of green infrastructure,

WELLBEING & C U LT U R E

T8.

H E A LT H & W E L L B E I N G

Make a measurable improvement to our communities’

including 25% increase in Urban Greening Factor

health & wellbeing T 9.

E M P LOY M E N T & S K I L L S

Increase local employment and support skills development

T10. COMMUNIT Y COHESION

Enhance community cohesion between local stakeholders

CHARITY

T11. TWINNING

Deliver one twinning project a year

T12. GIVING PRO GR AMME

Facilitate increase in charitable giving

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BA S E L I N E

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T

he net zero target has been developed in line with the parameters of the Estate’s reach and influence. With £4,795m of gross property value1, Cadogan’s assets include retail, residential and commercial property. The target boundaries are set by the limitations of geography and function, including all assets under management2 and direct operations, along with upstream/ downstream impacts that can be influenced by Cadogan3. A holistic assessment of emissions for the year to 31 December 2019 resulted in a carbon footprint of 106,213 tCO2e - with 96% of the impact being Scope 3 emissions4 as indicated in Figure 2. Embodied carbon (total emissions generated in creating a building or asset) constituted 61% of the baseline footprint, resulting from three major developments: 196/222 King’s Road mixed-use scheme, 1 Sloane Gardens hotel, 115-116 Sloane Street hotel, as well as commercial white-boxing and over 24 property refurbishments. Occupier operations also have a substantial impact, with 22% of the baseline footprint coming from commercial and residential portfolios. Energy use in these spaces is outside direct control, so working in partnership with occupiers and stakeholders across the Estate to facilitate decarbonisation will be key. In line with common practice, much of the Scope 3 baseline has been estimated according to information available. Given the importance of these emissions, improvements in data access, quality and analysis will play an essential role in the pathway to 2030.

QUICK STATS 2019 carbon footprint in tCO2e:

106,213 96%

of baseline emissions fall into Scope 3

61%

of baseline emissions come from developments

22%

of baseline emissions come from occupier activity

1 Cadogan Estates Annual Report and Accounts 2020 2 Excluding non-managed long leasehold properties, where leases typically last over 100 years 3 For further detail see Appendix B 4 Scope 3 emissions are indirect emissions from an organisation’s value chain C A D O G A N | N E T Z E RO PAT H WAY


FIGURE 2. 2019 BASELINE FOOTPRINT

1

SCOPE 1

2

SCOPE 2

3

SCOPE 3

7 L A N D LO R D GA S 1

INVESTMENTS

1.3%

3

TENANT O P E R AT I O N S

21.6%

1 3

E M P LOY E E COMMUTING

2

0.1%

3

1.3% L A N D LO R D REFRIGERANT GAS

0.1% L A N D LO R D ELECTRICIT Y

2.4%

B U S I N E S S T R AV E L 3

WA S T E

0.1%

Scope 1 Scope 2

0.001% 3

F U E L A N D E N E R GY R E L AT E D A C T I V I T Y

0.4%

TOTAL EMISSIONS

3

106,213 (tCO2e)

C A P I TA L G O O D S

Scope 3

3

0.9%

3

3

OTHER PURCHA SED G O ODS & SERVICES

WAT E R ( L A N D LO R D )

10.8%

0.1%

3 D E V E LO P M E N TS

61.1%

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PAT H WAY B E ST P R AC T I C E

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his pathway to net zero has been developed with best practice guidance from the UK Green Building Council (UKGBC) and the Better Buildings Partnership (BBP). Chelsea’s historic nature, conservation area requirements and development pipeline have been taken into consideration. The greatest focus will be on the areas with maximum impact potential: supply chain, embodied carbon in developments, and tenant operations. Together the pathway is intended to deliver a 2030 footprint reduction of more than 40% compared to 2019, with plans to offset the remainder according to parameters set out in Pathway Action 4. It is expected that this pathway will evolve over the coming decade, as the industry better understands the intricacies of net zero accounting, technology develops, and processes adapt to a low-carbon economy.

The pathway is intended to deliver an emissions reduction of more than

40%

FIGURE 3. REDUCTION PATHWAY

Embodied carbon: developments Embodied carbon: supply chain Landlord carbon Occupier operations

ACTION 1 EMBODIED CARBON

Remainder ACTION 2 REDUCING O P E R AT I O N A L I M PA C T S

ACTION 3 MAXIMISING R E N E WA B L E S

ACTION 4 OFFSETTING

2019

C A D O G A N | N E T Z E RO PAT H WAY

2030



PAT H WAY AC T I O N 1

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mbodied carbon comes from the design and construction of a building, from extraction of materials, through manufacturing, processing, transportation and assembly of every element before operation5. By 2025, embodied carbon is predicted to be 34% of total UK annual built environment emissions6. With the decarbonisation of the national electricity grid, and growing operational efficiencies, the relative significance of embodied carbon in buildings’ whole life cycle will continue to increase.

2019

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REDUCTION PATHWAY

ACTION 1 TA C K L I N G EMBODIED CARBON

ACTION 2 ACTION 3

2030

Tackling Embodied Carbon

ACTION 4

intensity targets, as well as opportunities arising from circular economy models. These standards will continue to evolve and be improved towards 2030.

The 2030 net zero pathway sets clear embodied carbon targets, with a downward trajectory as seen in Figure 4, for RIBA stages A1-A5 (“cradle to post-completion”) of all development projects. This allows for supply chain development and adaptation, ensuring shared learning and ability to maximise benefits across the value chain. This also applies to capital goods suppliers and other purchased goods and services, since 11% of the 2019 baseline footprint came from these sectors.

Moving to net zero

SUPPLY CHAIN ENGAGEMENT: proactive engagement with partners and suppliers regarding sustainability expectations and their own environmental performance will continue, sharing best practice and supporting suppliers in the development and implementation of their emissions reduction strategies. IMPROVED DATA AND REPORTING: new tracking of embodied carbon for every development project will improve the quality of footprint data. Supply chain tracking and reporting will also increase, as transparent and comparable data reporting helps drive improvement across the board.

NEW DESIGN STANDARDS: new design standards for all new development projects will address climate risk and cover embodied carbon targets, operational energy use and water

FIGURE 4. EMBODIED CARBON TARGETS kgCO 2e /m 2 (WHOLE BUILDING GIA)

P R OJ E C T T Y P E

NON-RESIDENTIAL

RESIDENTIAL

2021-2025 TA R G E T R A N G E

2025-2030 TA R G E T R A N G E

2030 TA R G E T S

Minor Refurbishment

280 - 227

227.5 - 175

< 175

Major Refurbishment

512 - 416

416 - 320

< 320

New Build

800 - 650

650 - 500

< 500

Minor Refurbishment

180 - 135

135 - 90

< 90

Major Refurbishment

300 - 225

225 - 150

< 150

New Build

600 - 450

450 - 300

< 300

5 UKGBC (2017) Embodied Carbon: Developing a Client Brief 6 Green Construction Board (2013) The Low Carbon Routemap for the Built Environment C A D O G A N | N E T Z E RO PAT H WAY


C A S E S T U DY

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1 Sloane Gardens Cadogan has demonstrated its approach to tackling embodied carbon in construction through its refurbishment scheme at 1 Sloane Gardens. This previously mixed-use site is being developed into a 30-bedroom hotel with a new rooftop restaurant, scheduled to open in 2022. The most significant carbon savings were achieved through retaining 42% of the existing structure by volume, specifically the foundations and façade on three elevations, preserving the historic character of the site and significantly reducing the carbon embodied in the structure. In addition, a substation originally planned to be housed externally was moved to the basement of the scheme. This, together with the use of lowcarbon concrete and reuse of materials including bricks, stonework and railings, led to a significant embodied carbon saving.

SUPPORTING CHELSEA 2030 TARGETS

T2. SUPPLIER C O N S O L I D AT I O N

T 3 . Z E RO - E M I S S I O N VEHICLES

Minimizing transport trips and reducing the number of vehicles on the roads will not only improve air quality, but also reduce embodied carbon.

Ensuring that remaining transport is undertaken on zero-emission vehicles will reduce embodied carbon of materials.

Beyond 2030 Cadogan will continue to work in partnership with stakeholders to reduce its embodied carbon. Improvements in understanding of materials, technology, processes, and knowledge sharing will continue to develop and evolve, as will expectations for industry performance.

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PAT H WAY AC T I O N 2 Reducing Operational Impacts

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adogan’s operational carbon emissions come from landlord managed electricity and gas. While this only accounts for 4% of the baseline footprint, it is within direct control so will be reduced as far as possible.

ACTION 1

FIGURE 5. OPERATIONAL ENERGY USE TARGETS kWh/m 2/ YEAR (GIA)

P R OJ E C T T Y P E

Moving to net zero

TENANT FIT-OUT STANDARDS: working in partnership with occupiers, Cadogan is developing new standards to set clear guidelines for sustainable occupier fit-out. These will help deliver energy and water efficient designs, consider the circular economy and material reuse, as well as internal environmental air quality and health and wellbeing. These standards will continue to evolve as industry knowledge develops. OCCUPIER ENGAGEMENT: through increased occupier engagement and data sharing, performance can be measured against targets, best practice can be shared and collaboration facilitated across Chelsea to reduce emissions.

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ACTION 3

ACTION 4

Chelsea is a challenging environment with historic properties, conservation areas and Listed buildings, but clear energy intensity targets for all new and existing buildings are phased into the pathway to 2030.

ENERGY EFFICIENT RETROFIT: continuing to refit properties to increase energy efficiency including a shift towards low-carbon heating. Together with a focus on design for performance, there will be an increase in operational performance measurement against energy use intensity targets, exploring the use of operational performance standards. This move mirrors an industry shift from theoretical to operational measurement and supports a proactive management strategy, using a data-informed approach to minimise unnecessary emissions and tackle best practice behaviours.

ACTION 2

2030

Operational emissions from commercial and residential occupier spaces constitute 22% of the overall footprint, requiring a collaborative approach to reducing emissions. Legislation is rapidly changing in this area, ranging from a push for gas-free homes to tightening MEES requirements, and this is expected to continue.

2019

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REDUCTION PATHWAY

ACTION 2 REDUCING O P E R AT I O N A L I M PA C T S

2021-2025 TA R G E T R A N G E

2025-2030 TA R G E T R A N G E

2030 TA R G E T S

NONRESIDENTIAL

170 - 110

110 - 55

< 55

RESIDENTIAL

105 - 70

70 - 35

< 35

CARBON EMISSIONS

22%

commercial and residential occupier spaces

4%

landlord managed electricity and gas


C A S E S T U DY

Passivhaus In 2018-19 Cadogan trialled the EnerPHit standard (Passivhaus for retrofits) on a refurbishment of a mews house, while retaining its charm, heritage character and luxury.

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The building has set a new precedent in environmental performance, meeting the demand for a more energy efficiency property in a desirable location. Cadogan is taking the learnings from the project into future residential projects.

Sitting in the heart of the Hans Town conservation area, 126 Pavilion Road is a nineteenth century stable house, which makes it one of the oldest houses in the UK to meet Passivhaus standards. The refurbishment was so successful that it is one of only 1 percent of domestic refurbishments to be certified as BREAAM ‘Outstanding’. The refurbishment focussed on super-efficient fittings, enhanced thermal insulation and airtightness, and innovative material procurement. The result was a property that the residents love, with improved thermal comfort, enhanced site ecology and biodiversity, and an 85% reduction in energy consumption compared to a traditionally built mews house.

SUPPORTING CHELSEA 2030 TARGETS

T 1 . WA S T E

T 5 . WAT E R

Reducing waste generation, promoting material reuse and driving the circular economy will also reduce the carbon emissions associated with the transport and management of waste.

Increasing water efficiency and reducing the volume of mains water consumed will have a knock-on effect on reducing the emissions associated with the provision and management of water.

Beyond 2030 Cadogan will continue to improve the efficiency of its building stock, collaborating with partners across the value chain to ensure use of the best technology most suited to Chelsea’s historic environment and collaborating to improve performance.

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PAT H WAY AC T I O N 3 Maximising renewables

G

ACTION 3 MAXIMISING R E N E WA B L E S

ACTION 1 ACTION 2

2030

rowth in renewable energy generation is fundamental to the transition to a low-carbon economy and, with energy demand expected to grow, will play an increasingly important role in the energy mix. How Cadogan procures energy is therefore important at both a company and a grid level.

2019

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REDUCTION PATHWAY

A small 20kWp array on George House generated over 18,000kWh of renewable electricity in 2020. Using industry best practice to avoid double counting, Cadogan uses locationbased emission factors for all electricity consumption, aside from direct onsite generation, or contracted renewable procurement through a private wire or corporate power purchase agreement (PPA).

Moving to Net Zero INSTALL ONSITE RENEWABLES: onsite renewables will continue to be a focus, installing solar panels and ground- and airsource heat pumps where feasible. EXPLORE POWER PURCHASE AGREEMENTS: procuring landlord energy through renewable corporate power purchase agreements would cut emissions and facilitate additional clean energy generation. Due to the Estate’s small direct procurement this may prove challenging, but innovation in contracting and collaboration with partners should lead to new solutions. COMMUNITY POWER: Working with occupiers, suppliers, local businesses and residents, the co-creation of a zero-emission energy service could be explored, to provide affordable access to a clean, secure supply of power.

C A D O G A N | N E T Z E RO PAT H WAY

ACTION 4

Beyond 2030 Continuing to prioritise the installation of onsite renewables as far as possible, Cadogan will engage with the wider community in facilitating access to renewable generation.


PAT H WAY AC T I O N 4 Offsetting nce emissions have been reduced as far as possible, the remainder will be addressed through offsetting in 2030.

As with every element within the net zero pathway, transparency is essential to credibility and only independently verified, high quality offsets will be considered. The approach to offsets will be developed over the coming decade in conjunction with growing knowledge and industry guidance, following best practice.

Moving to Net Zero DEVELOP EVOLVING STRATEGY: the offset landscape is expected to change significantly as 2030 approaches, and so whilst the principles set out here will remain, it is expected that the details of Cadogan’s approach will evolve.

ACTION 4 OFFSETTING

ACTION 1 ACTION 2 ACTION 3

2030

Insetting, where organisational investment is put towards promoting sustainable activity and cutting emissions across the value chain, is also part of the strategy. Examples could include working with suppliers and partners to reduce their emissions beyond their relationship with Cadogan, or supporting the local community in tackling fuel poverty.

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2019

O

REDUCTION PATHWAY

SUPPORTING CHELSEA 2030 TARGETS

T 7. G R E E N I N F R A S T RU C T U R E

T11. T WINNING

Increasing the quality and quantity of our green infrastructure will result in additional carbon absorption across the Estate.

One type of project that could be replicated in the borough through the twinning programme is one which would have offset benefits. This could include tackling fuel poverty through installing insulation or other energy efficiency measures or installing renewable generation. For any twinning projects to be counted as an offset they will be independently verified and assured.

Beyond 2030 Emissions will continue to be reduced beyond 2030, as the industry and technology develops. Cadogan will continue to offset their footprint annually every year after 2030, maintaining net zero and collaborating with partners to ensure that actions and offsets are effective and meaningful.

C A D O G A N | N E T Z E RO PAT H WAY


D E L I V E RY

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Net zero emissions

Collaboration & Partnership Collaboration and collective action across the value chain will be required to achieve net zero, as set out in the Pathway Actions, but also play a vital role in supporting innovation across Chelsea and the wider industry. Cadogan is proud to be involved in a range of industry groups and partnerships exploring how to drive positive environmental change in the built environment. This will continue, sharing learnings and ideas to support the industry’s overall transition to net zero. Please get in touch if you would like to work with Cadogan on achieving this goal.

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Data & Verification

Governance

One of the biggest challenges in the built environment is the complexity and fragmentation of environmental data.

To achieve net zero, emissions footprint needs to be considered across every aspect of the business and every element of the Estate. Each department recognises its responsibilities and reports on progress regularly, and internal reviews ensure that the carbon implications of decisions are incorporated into decision making.

Operational data is fundamental to the effective management of internal processes and already very high quality. This is not yet true for Scope 3 data, which is currently largely estimated. To tackle this, a comprehensive Data Improvement Plan is in development which covers embodied carbon data, occupier utility consumption data, supplier emissions data, and improved post-completion evaluations for finished projects. Progress on the transition to net zero is reported to the Board on a quarterly basis, and to the public on an annual basis, every year to 2030. Cadogan is exploring the most effective way to achieve independent verification of data and performance, assuring progress in a transparent and credible way.

Cadogan’s CEO, the Board and management team are strongly supportive of Chelsea 2030 and the net zero ambition. There is a strong commitment to ensuring that climate and net zero related risk is integrated into risk management strategy. Recognition of the significant physical and transition risks posed by climate change has led to a commitment to investigating these risks further, quantifying their potential financial and strategic impact on the business, and integrating mitigation measures into Chelsea 2030 and the net zero target.



Appendix A - Delivery Strategy Summary TOPIC

OUTCOME

DELIVERY STRATEGY

REPORTING METRIC

EMBODIED CARBON

All developments meet

• New Design Standards

• Whole life carbon assessment

relevant embodied

• Supply chain engagement

• Carbon intensity (kgCO2/m2

carbon targets

• Improved data and reporting, including

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GIA)

whole life carbon assessments Reduced supplier

• Reduced vehicle and transport emissions

emissions

O P E R AT I O N A L C A R B O N

All buildings meet energy use intensity targets

• Energy efficient retrofit Energy use intensity targets and subsequent operational measurement

• Energy intensity (kWh/m2/year) • Carbon intensity (kgCO2e/m2/ year)

• Tenant fit-out standards • Improved occupier engagement, data and reporting

O N - S I T E G E N E R AT I O N & R E N E WA B L E S P RO C U R E M E N T

Maximise renewable

• Install renewables on new builds

• MWh on-site capacity

generation, reduce

• Consider PPA for landlord elec and gas

• Location and market-based

reliance on national grid

• Encourage occupiers to move to

and ensure all energy procured by Cadogan is additional and renewable

OFFSET TING

emissions (tCO2e/year)

renewables • Support additional renewable generation on Scottish investments

Offset remaining

• Consider internal shadow carbon pricing

• Total emissions offset (tCO2e)

emissions that cannot

• Develop ongoing offset strategy that is

• Quantity and types of

be reduced

additional, transparent, verified and has

offsetting used

societal co-benefits

T H I R D - PA RT Y V E R I F I C AT I O N ; I N D U S T RY S TA N D A R D S A N D C E RT I F I C AT I O N

Annual transparent reporting against targets

• Conduct third party assurance of environmental KPIs in Cadogan sustainability report • Annual reporting against targets • Continue with independent building and management system certification (BREEAM, Passivhaus, WELL etc) where appropriate

C A D O G A N | N E T Z E RO PAT H WAY

• Independent third-party assurance statement


Appendix B - Scope Boundary BUSINESS AREA

SUB-AREA

GHG PROTOCOL

CARBON SCOPE

BBP

CADOGAN

C O R P O R AT E

Head office energy use

Company facilities

1&2

No

Yes

Company vehicles

Company vehicles

1

No

Not relevant: no company vehicles

D I R E C T R E A L E S TAT E HOLDINGS

(Including JVs with management control)

Business travel

Business travel

3

No

Yes

Purchased goods & services

Purchased goods & services

3

No

Yes

Operational waste

Waste generated in operations

3

No

Yes

Operational water use

Purchased goods & services

3

No

Yes

Employee commuting

Employee commuting

3

No

Yes

Landlord purchased energy

Purchased electricity, heat and

1,2&3

Yes

Yes

(electricity & fuels)

steam

Occupier purchased energy

Downstream leased assets

3

Yes

Yes

Landlord refrigerants

Purchased goods and services

1

Yes

Yes

Occupier refrigerants

Occupier Scope 3

3

No

No

Landlord purchased water

Purchased goods & services

3

Yes

Yes

Occupier purchased water

Occupier Scope 3

3

No

No. Issue addressed in

(electricity & fuels)

separate water reduction target Landlord managed operational

Waste generated in operations

3

Yes

Yes

Occupier Scope 3

3

No

No. Issue addressed in

Occupier transport emissions

Occupier Scope 3

3

No

Occupier supply chain emissions

Occupier Scope 3

3

No

No

Landlord purchased capital

Purchased goods and services

3

Yes

Yes

Landlord purchased energy

Purchased electricity, heat and

1,2&3

Yes

Yes

(electricity & fuels)

steam

Occupier purchased energy

Downstream leased assets

3

Yes

Yes

waste Occupier managed operational waste

separate waste targets No. Issue addressed in separate air quality targets

goods & services (M&E & property management services) INVE STMENT S

(Indirect Real Estate Holdings, e.g., where investments are managed

(electricity & fuels)

by a third party such as JVs

Landlord refrigerants

Purchased goods and services

1

Yes

Yes

with no management control

Occupier refrigerants

Occupier Scope 3

3

No

No

or investments in other real

Landlord purchased water

Purchased goods & services

3

Yes

Yes

Occupier purchased water

Occupier Scope 3

3

No

No

Landlord managed operational

Waste generated in operations

3

Yes

Yes

Occupier Scope 3

3

No

No

Occupier transport emissions

Occupier Scope 3

3

No

No

Occupier supply chain emissions

Occupier Scope 3

3

No

No

Landlord purchased capital

Purchased goods and services

3

Yes

Yes

Purchased Goods & Services

3

Yes

Yes

Refurbishments

Purchased Goods & Services

3

Yes

Yes

Fit-out (landlord controlled)

Purchased Goods & Services

3

Yes

Yes

Fit-out (occupier controlled)

Occupier Scope 3

3

Yes

No. Issue addressed through

estate investment vehicles)

waste Occupier managed operational waste

goods & services (M&E & property management services) DEVELOPMENT

New development (including those where funding is being provided)

fit-out standards and occupier engagement End of life

End of life treatment of sold

3

No

No

products C A D O G A N | N E T Z E RO PAT H WAY

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Contact K ATE NEALE Sustainability Manager kate.neale@cadogan.co.uk 020 7730 4567 cadogan.co.uk


10 Duke of York Square London SW3 4LY T. 020 7730 4567 cadogan.co.uk