McKay Securities

Sustainability Targets


Targets for 2016/17

Building upon results achieved in the year to March 2016, the Group has established 20 new sustainability targets for the year to March 2017.

Managing Sustainable Buildings
Target Deadline
Electricity consumption: 1 Year Target – achieve a 4% annual reduction in like-for-like landlord controlled consumption by the end of March 2017, relative to a 2015/16 baseline. March 2017
Electricity consumption: 4 Year Target – achieve a 16% reduction in like-for-like landlord controlled consumption by the end of March 2020, relative to a 2015/16 baseline. March 2020
Gas consumption: 1 Year Target – achieve a 4% annual reduction in like-for-like landlord controlled consumption (adjusted for heating degree days) by the end of March 2017, relative to a 2015/16 baseline. March 2017
Gas consumption: 4 Year Target – achieve a 16% reduction in like-for-like landlord controlled consumption (adjusted for heating degree days) by the end of March 2020, against a 2015/16 baseline. March 2020
Carbon emissions: 1 Year Target – achieve a 4% annual reduction in like-for-like landlord controlled emissions by the end of March 2017, relative to a 2015/16 baseline. March 2017
Carbon emissions: 4 Year Target – achieve a 16% reduction in like-for-like landlord controlled emissions by the end of March 2020, against a 2015/16 baseline. March 2020
Water consumption: 1 Year Target – achieve a 3% reduction in like-for-like landlord controlled consumption by the end of March 2017 against a 2015/16 baseline. March 2017
Water consumption: 4 Year Target – achieve a 12% reduction in like-for-like landlord controlled consumption by the end of March 2020, against a 2015/16 baseline. March 2020
Waste: Maintain 100% of operational waste diverted from landfill for landlord managed portfolio. March 2017
Waste: 1 year Target – increase recycling rate to 41% for managed waste by March 2017, across all properties for which the Group has management control. March 2017
Waste: 4 Year Target – improve recycling rate to 52% for managed waste by March 2020, in line with the Real Estate Environmental Good Practice Benchmark (REEB). March 2020
Waste: Engage with occupiers to facilitate improved resource recycling rates. March 2017
Continue to implement energy and water efficiency measures at the Group’s major energy and water consuming assets. March 2017
For landlord procured energy, investigate the cost of switching 100% to a low carbon energy tariff. March 2017
Where there is landlord access to energy, water and waste data (either through landlord-controlled utility purchase, smart meters or occupier willingness to share data), monitor environmental performance of new developments and major refurbishments once in operation. March 2017
Implement occupier fit-out guidance to encourage retention of sustainability benefits of the base build in operation. March 2017
Engage with occupiers who have green lease clauses to ensure their effectiveness. March 2017
Continue to review EPC risk associated with new purchases and identify improvement works for any assets with an E rating or lower. March 2017
Creating Sustainable Buildings
Target Deadline
Install smart meters at all new developments and major refurbishments starting on site from April 2016.A minimum requirement for BREEAM Very Good and an EPC C will be set on all new developments and major refurbishments March 2017
Continue to monitor the compliance of contractors with development sustainability requirements, and continue to trial the collection of construction-related environmental data from at least one development project in 2016/17. March 2017
Ensure all new developments and major refurbishments achieve minimum BREEAM Very Good and an EPC rating of at least C. March 2017
Pilot a post-occupancy assessment of the performance of one building which includes a review of sustainability performance. March 2017
Engaging Stakeholders
Target Deadline
Maintain or enhance GRESB performance relative to 2015. March 2017
Provide sustainability training for employees, including annual sustainable building tours. March 2017
Develop and implement an action plan based on outcome of recent customer satisfaction survey. March 2017

Targets for 2015/16

Building upon results achieved in the year to March 2015, the Group had set itself sixteen new targets for the year to March 2016. The progress for these targets is detailed below.

Managing Sustainable Buildings
Target Deadline Progress
Continue to deliver an energy and water reduction programme at our major energy and water consuming properties 2016 Achieved
Maintain 100% waste diverted from landfill 2016 Achieved
Achieve a 6% reduction in like-for-like landlord controlled electricity consumption by the end of March 2016 against a 2013/14 baseline 2016 Achieved
Achieve a 6% reduction in like-for-like landlord controlled gas consumption (adjusted for heating degree days) by the end of March 2016 against a 2013/14 baseline 2016 Achieved
Achieve a 6% reduction in like-for-like landlord controlled carbon emissions by the end of March 2016 against a 2013/14 baseline 2016 Achieved
Achieve a 5% reduction in like-for-like landlord controlled water consumption by the end of March 2016 against a 2013/14 baseline 2016 Achieved
Develop green lease clauses for incorporation into all new leases from 1st January 2016 onwards (including provision to prevent tenants negatively impacting the EPC) 2016 Achieved
Develop tenant fit-out guidance to encourage retention of sustainability benefits of the base build in operation 2016 Achieved
Review EPC risk associated with new purchases and plan out improvement works as necessary 2016 Achieved
Creating Sustainable Buildings
Target Deadline Progress
A minimum requirement for BREEAM Very Good and an EPC C will be set on all new developments and major refurbishments 2016 Ongoing
Investigate the opportunities and costs (feasibility) of achieving zero carbon for a new development 2016 Achieved
Monitor the compliance of contractors with development sustainability requirements and trial the collection of environmental performance data from one construction site 2016 Ongoing
Pilot a post-occupancy assessment of the performance of one building which includes a review of sustainability performance 2016 2017 Deadline
Engaging Stakeholders
Target Deadline Progress
Develop and roll out a tenant satisfaction survey, to include sustainability questions 2016 Achieved
Improve the Group’s GRESB score relative to 2014 2016 Achieved
Organise green building tours for employees to build sustainability awareness 2016 Achieved

Targets for 2014/15

The Group set itself sixteen sustainability targets for the year to March 2015 and beyond and progress against these targets is detailed below.

Managing Sustainable Buildings
Target Deadline Progress
Put in place an energy and water reduction programme for at least 4 of the major energy and water consuming properties 2015 Achieved
Establish a baseline for waste data at all relevant properties, against which to set future targets 2015 Achieved
Ensure that new marketing collateral for properties for sale or rent incorporates all relevant sustainability information 2015 Achieved
Develop targeted tenant sustainability communications 2015 Achieved
Review those properties which have 2008/9 dated EPCs rated D or E and put in place appropriate plans for any high risk properties identified 2016 Achieved
Implement practical EPC improvement plans for high risk properties 2016 Achieved
Achieve a 6% reduction in like-for-like landlord controlled electricity consumption by the end of March 2016 against a 2013/14 baseline 2016 Achieved
Achieve a 6% reduction in like-for-like landlord controlled gas consumption (adjusted for heating degree days) by the end of March 2016 against a 2013/14 baseline 2016 Achieved
Achieve a 6% reduction in like-for-like landlord controlled carbon emissions by the end of March 2016 against a 2013/14 baseline 2016 Achieved
Achieve a 5% reduction in like-for-like landlord controlled water consumption by the end of March 2016 against a 2013/14 baseline 2016 Achieved
Creating Sustainable Buildings
Target Deadline Progress
A minimum requirement for BREEAM Very Good will be set on all new developments and major refurbishments 2015 Achieved
Develop project-specific sustainability requirements for contractors, in line with BREEAM requirements and incorporate into relevant building contracts 2015 Achieved
Determine meaningful post-occupancy KPIs to evaluate the impact of sustainability measures on new developments and refurbishments 2015 Achieved
Engaging Stakeholders
Target Deadline Progress
Publish an update on progress with the implementation of the sustainability strategy in the Annual Report and Accounts 2015 Achieved
Participate in the Global Real Estate Sustainability Benchmark 2015 Achieved
Build sustainability awareness amongst employees and occupiers through tailored communications and activities 2015 Achieved

D2 Interactive