Major London landlord GPE deepens sustainability strategy

By

Nigel TAYLOR

Published
May 15, 2023

London property giant GPE is progressing with its eco strategy and on Monday gave us an update on its 2020-launched Sustainability Statement of Intent, entitled 'The Time is Now’, along with news of its new ‘Brief for Creating Sustainable Spaces’. 

The company, which has been developing a large number of flagship retail properties on London’s Oxford Street and New Bond Street, said that reflecting “the continued evolution of our approach to sustainability”, The Time is Now commitment has seen “considerable progress” on its 2016 baseline, including reduction in energy intensity of 32.2% and a reduction in carbon intensity of 66%.

Meanwhile, 43% of its portfolio is now rated as EPC B or above, while GPE has now allocated £768,000 to its decarbonisation fund since its creation in 2021, through its Internal Carbon Price of £95 per tonne. 

Other positives include the delivery of its first net zero carbon building at 50 Finsbury Square; a 62% increase in biodiversity net gain across its portfolio due to the development of Hanover Square, W1, and subsequently delivered a further 8.6% uplift against its re-baselined target.

Outdoors, the business said it has introduced a new commitment, Creating Sustainable Spaces, now applying to all its spaces whether Ready to Fit, Fitted or Fully Managed. 

GPE chief executive Toby Courtauld said: “[These launches underpin our eco] commitment as we evolve our approach to sustainability to deliver the innovative, climate resilient spaces our customers demand - as well as meeting our own targets for the future.”

Janine Cole, Sustainability and Social Impact Director, added: “We recognise there is still much to do and so we are evolving our approach, by integrating climate resilience across all aspects of our business, embedding nature throughout the four pillars of our approach, implementing circular thinking within all our projects and embracing innovation within the design, construction, fit out and operation of our spaces.”