Responsible SEGRO demonstrates how our environmental and social contributions are embedded within our business strategy and are fundamental to how we create the space that enables extraordinary things to happen – whether that is the spaces that we create for our customers or enabling our people and the communities and environment close to our warehouses to flourish. Within it we have three priorities:
Championing low carbon growth
SEGRO recognises that the world faces a climate emergency and we are committed to playing our part in tackling climate change, by limiting global temperature rise to less than 1.5°C, in tandem with growth in our business and the wider economy.
Targets
Our carbon reduction targets are a 42 per cent reduction in corporate and customer emissions, and a 20 per cent reduction in the embodied carbon intensity of our developments, both targets by 2030 against a 2020 baseline. We are reviewing new net-zero target guidelines and we intend to publish any new targets in our 2024 Annual Report and Accounts.
Actions
We will reduce carbon emissions from our development activities, operation of our buildings, and throughout our value chain. We will set challenging targets and drive to achieve them as early as possible.
Investing in our local communities and environments
SEGRO is an integral part of the communities in which it operates, and we are committed to contributing to their long-term vitality.
Targets
We will create and implement Community Investment Plans for every key market in our portfolio by 2025.
Actions
We will work with our customers and suppliers to support our local businesses and economies. We will
help improve the skills of local people to enhance their career and employment opportunities, by investing in
local training programmes. Equally, we will enhance the spaces around our buildings, working with local
partners to ensure we meet the needs of our communities.
Nurturing talent
SEGRO’s people are vital to and inseparable from its success, and we are committed to attracting and retaining a diverse range of talented individuals in our business.
Targets
We will increase the overall diversity of our own workforce throughout the organisation and we have set ourselves clear goals to work towards.
Actions
We will provide a healthy and supportive working environment, develop fulfilling and rewarding careers, foster an inclusive culture and build a more diverse workforce.
Non-Financial KPIs
Customer Satisfaction
The percentage of our customers who rate their experience as occupiers of our buildings as ‘good’ or ‘excellent’ as opposed to ‘poor’ or ‘average’. Our customers are at the heart of our business and we strive to ensure that we are providing the best level of service possible to maximise customer retention.
Employee Engagement
We carry out an employee survey annually asking all our people to comment on various aspects of their work at SEGRO. We share the results of this with the Board, Leadership team and all our people. In 2023, 97% of our people shared their feedback with us.
Embodied Carbon Intensity
The largest source of carbon emissions within our control is the embodied carbon in our newly developed buildings. Within our science-based targets, we are committed to reducing the average carbon intensity of all new developments by 20 per cent by 2030 (compared to a 2020 baseline of 400 kgCO2e/m2). We calculate this metric based on completed developments over the past two years for which a life cycle assessment has been completed.
Corporate and Customer Carbon Emissions
Our corporate and customer carbon emissions cover our own operations under Scope 1 and 2 and our customer emissions under Scope 3. We have visibility of 81 per cent of the energy use from our buildings by floorspace. For buildings where we do not receive data we have estimated energy use. Our science-based targets commit us to reducing the absolute corporate and customer carbon emissions of our portfolio by 42 per cent by 2030 (compared to a 2020 baseline of 312,115 tCO2e), in line with a 1.5 degree scenario.
Visibility of Customer Energy Use
Under standard market lease terms we do not have automatic visibility of customer energy usage data. We recognise the importance of having good visibility of this data so we can accurately assess our Scope 3 emissions and help our customers to reduce their own carbon footprint as well as improving their energy efficiency. We are therefore proactively engaging with our customers, requesting access to this data and have introduced green clauses requiring energy use visibility to all new leases.
Number of Volunteering Days
Now that we have launched 12 Community Investment Plans (CIPs) across many of our key markets we have turned our focus towards the implementation of them. We are therefore measuring the number of employees who volunteered in projects (including on our annual Day of Giving).