Sustainability Targets

The Group has set itself a total of 29 sustainability targets for the financial year ending March 31st 2020. The targets enable us to build on previous achievements and proceed with the implementation of our new sustainability objectives.

  • A customer-focused and flexible landlord

    Target Deadline
    Create and implement a follow up action plan in response to the 2019 customer survey March 2020
    Create and implement a follow up action plan in response to the 2019 customer survey March 2020
    Undertake a gap analysis of a selection of current assets’ digital infrastructure provision against good practice references, aiming to define a minimum standard for digital infrastructure provision for different asset types, and to trial smart technology in one property March 2020
    Develop questions to be included within the next customer survey, to ask more specifically about customers’ needs and expectations with regards to building-related features and amenities to support diversity and inclusivity March 2020
  • Low carbon, resource efficient and healthy buildings

    Target Deadline
    Ensure the electricity procured for any new asset acquired in the 2019/20 period is shifted to a renewable electricity tariff by the end of the year, to maintain McKay’s 100% zero carbon electricity procurement status March 2020
    Achieve a year-on-year 4% reduction in like-for-like landlord controlled electricity and gas consumption and work towards a 20% reduction in carbon emissions by FY2024/5 from FY2019/20 March 2020
    Proceed with the implementation of new energy saving technologies in a minimum of one asset March 2020
    Secure approval for the implementation of PV panels on at least one new development or major refurbishment, following the results of the Renewable Energy Strategy Review March 2020
    Continue to ensure that all new developments and major refurbishments achieve minimum BREEAM Excellent and an EPC rating of at least B March 2020
    Define and approve an ambitious 2030 carbon reduction target and action plan to achieve this through a combination of energy efficiency measures, on-site renewables and purchase of green energy tariffs March 2020
    Identify a development/refurbishment project (if a suitable opportunity arises) where McKay could seek to achieve net zero carbon (as a pilot) before 2022 March 2020
    Increase the recycling rate across all properties for which the Group has management control to at least 52% by 31 March 2020, in line with ‘Good Practice’ in office assets according to the latest available Real Estate Environmental Benchmark (REEB) March 2020
    Implement the recommendations of the waste review at assets where McKay has management control March 2020
    Organise at least one CDP session on the circular economy to provide information and inspiration to employees on this topic March 2020
    Achieve a year-on-year 4% reduction in like-for-like landlord controlled water consumption, and work towards 20% reduction by FY2024/5 from FY2019/20 March 2020
    Proceed with the implementation of new water saving technologies in a minimum of two assets March 2020
    Undertake a gap analysis of a selection of current assets’ health and wellbeing features against good practice references, aiming to define a minimum standard for health and wellbeing that can be applied to all assets (by type), aligned to an appropriate certification standard (e.g., WELL or Fitwel) March 2020
    Undertake a post occupancy evaluation at a suitable asset, to identify the extent to which occupier experience matches with the design intent March 2020
    Develop questions to be included within the next occupier survey, to ask more specifically about occupiers’ perceptions of their demised area and common parts building areas in relation to health and wellbeing March 2020
    Organise at least one tour of an exemplary sustainable building for health and wellbeing, to inform and inspire employees March 2020
  • A progressive and transparent business

    Target Deadline
    Continue to ensure that sustainability and health and wellbeing is integrated into asset marketing and communications, including asset websites and asset profiles on the corporate website March 2020
    Create asset-level sustainability scorecards which can be used to track asset performance, with this performance data also used in asset marketing March 2020
    Review and update McKay’s acquisitions and developments checklists in line with the sustainability trends and material issues identified through the 2018/19 strategy review March 2020
    Define the brief for a review of the portfolio (and local transport links) against key climate risk criteria – looking out to 2030 March 2020
    As part of McKay’s re-branding, integrate our new sustainability vision into our value proposition and corporate website content March 2020
    Over a two-year period, identify key locations and a shortlist of projects/charities focused on community resilience which McKay could support March 2021
    Maintain or enhance GRESB performance relative to 2018 March 2020
    Take forward the recommendations of the gap analysis undertaken against the requirements of The TaskForce on Climate-related Financial Disclosures (TCFD) March 2020
    Aim to increase environmental data coverage with a focus on tenant energy, GHG emissions and water data, in line with GRESB requirements March 2020

Up to the financial year ending March 31st 2019, the Group’s sustainability targets were aligned to the three focus areas of our previous sustainability strategy. Our progress against these targets is shown in the tables below.

  • Managing Sustainable Buildings

    Target Deadline
    Electricity consumption: Achieve a 12% reduction in like-for-like landlord controlled electricity consumption relative to a 2015/16 baseline. March 2019
    Gas consumption: Achieve a 12% annual reduction in like-for-like landlord controlled gas consumption (adjusted for heating degree days) relative to a 2015/16 baseline. March 2019
    Carbon emissions: Achieve a 12% reduction in like-for-like landlord controlled carbon emissions, against a 2015/16 baseline. March 2019
    Water consumption: Achieve a 9% reduction in like-for-like landlord controlled water consumption, against a 2015/16 baseline. March 2019
    Waste: Maintain 100% of operational waste diverted from landfill for landlord managed portfolio. March 2019
    Waste: Increase the recycling rate across all properties for which the Group has management control to 48% by March 2019, in line with 'Good Practice' according to the Real Estate Environmental Benchmark (REEB). March 2019
    Pilot an innovative energy-saving technology at one of the Group’s major energy consuming assets. March 2019
    Pilot an innovative water-saving technology at one of the Group’s major water consuming assets. March 2019
    Continue to review EPC risk associated with new purchases and create improvement plans for any asset with an E rating or below, to bring it up to at least a D. March 2019
    Roll out phase two of the Group's Renewable Energy Review Strategy, which will involve conducting detailed studies into the feasibility of incorporating solar PV panels at five properties, and then select at least one property at which to take forward an installation subject to commercial viability. March 2019
    Continue to ensure compliance with the Group’s Responsible Procurement Policy through the agreed annual auditing process. March 2019
  • Creating Sustainable Buildings

    Target Deadline
    Continue to monitor the compliance of contractors with McKay's Sustainability Requirements for Development and Refurbishment Projects, ensuring that sustainability is consistently integrated as part of the tendering process. March 2019
    Ensure all new developments and major refurbishments achieve minimum BREEAM Excellent and an EPC rating of at least B. March 2019
    Follow up on the results and recommendations of the post-occupancy evaluation of Prospero, Redhill, to ensure that all aspects of operational performance meet design intent. March 2019
  • Engaging Stakeholders

    Target Deadline
    Maintain or enhance GRESB performance relative to 2017. March 2019
    Hold a minimum of three sustainability related CPD sessions to increase awareness of key issues amongst employees. March 2019
    Continue to organise annual sustainable building tours to inform and inspire employees. March 2019
    Include information about asset’s sustainability, including energy efficiency and health and wellbeing features, within marketing materials, highlighting their benefits to occupiers. March 2019
    Introduce building awards/competition to encourage uptake of sustainability practices amongst tenants. March 2019

Up to the financial year ending March 31st 2019, the Group’s sustainability targets were aligned to the three focus areas of our previous sustainability strategy. Our progress against these targets is shown in the tables below.

  • Managing Sustainable Buildings

    Target Deadline Progress
    Electricity consumption: In 2017/18 achieve a 4% reduction in like-for-like landlord controlled consumption relative to a 2016/17 baseline. March 2018 Achieved
    Gas consumption: In 2017/18 achieve a 4% annual reduction in like-for-like landlord controlled consumption (adjusted for heating degree days) relative to a 2016/17 baseline. March 2018 Achieved
    Carbon emissions: In 2017/18 achieve a 4% annual reduction in like-for-like landlord controlled emissions relative to a 2016/17 baseline. March 2018 Achieved
    Water consumption: In 2017/18 achieve a 3% reduction in like-for-like landlord controlled consumption against a 2016/17 baseline. Achieve a 12% reduction by the end of March 2020 relative to a 2015/16 baseline. March 2018 Achieved
    Waste: Maintain 100% of operational waste diverted from landfill for landlord managed portfolio. March 2018 Achieved
    Waste: In 2017/18 increase recycling rate across all properties for which the Group has management control to 44%. March 2018 Not Achieved
    Continue to implement energy and water efficiency measures at the Group’s major energy and water consuming assets. March 2018 Achieved
    Continue to review EPC risk associated with new purchases and prioritise improvement works for any asset with an E rating or lower. Also consider D rated assets. March 2018 Achieved
    Explore the feasibility of incorporating on-site renewable energy at a minimum of one of McKay Securities’ operational assets. March 2018 Achieved
    Conduct a review of major operational material spend categories and investigate establishing minimum sustainability procurement requirements based on the results March 2018 Achieved
  • Creating Sustainable Buildings

    Target Deadline Progress
    Continue to monitor the compliance of contractors with development sustainability requirements and ensure that sustainability is consistently integrated as part of the tendering process. March 2018 Achieved
    Ensure all new developments and major refurbishments achieve minimum BREEAM Excellent and an EPC rating of at least B. March 2018 Achieved
    Include information about assets' sustainability and health and wellbeing features within marketing materials, highlighting their benefits for occupiers. March 2018 Achieved
    Pilot a post-occupancy sustainability assessment of either 9 Greyfriars, Reading or Prospero, Redhill with one tenant who has been in place for a minimum of six months. March 2018 Achieved
  • Engaging Stakeholders

    Target Deadline Progress
    Maintain or enhance GRESB performance relative to 2016. March 2018 Achieved
    Hold a minimum of three sustainability related CPD sessions to increase awareness of key issues amongst employees. March 2018 Achieved
    Continue to organise annual sustainable building tours to inform and inspire employees. March 2018 Achieved
    Develop and publish stakeholder engagement policy. March 2018 Achieved
    Introduce building awards/competition to encourage uptake of sustainability practices. March 2018 In Progress

Up to the financial year ending March 31st 2019, the Group’s sustainability targets were aligned to the three focus areas of our previous sustainability strategy. Our progress against these targets is shown in the tables below.

  • Managing Sustainable Buildings

    Target Deadline Progress
    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 Not Achieved
    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 Achieved
    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 Achieved
    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 Achieved
    Waste: Maintain 100% of operational waste diverted from landfill for landlord managed portfolio. March 2017 Achieved
    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 Partially Achieved
    Waste: Engage with occupiers to facilitate improved resource recycling rates. March 2017 Achieved
    Continue to implement energy and water efficiency measures at the Group’s major energy and water consuming assets. March 2017 Achieved
    For landlord procured energy, investigate the cost of switching 100% to a low carbon energy tariff. March 2017 Achieved
    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 N/A
    Implement occupier fit-out guidance to encourage retention of sustainability benefits of the base build in operation. March 2017 Achieved
    Engage with occupiers who have green lease clauses to ensure their effectiveness. March 2017 Achieved
    Continue to review EPC risk associated with new purchases and identify improvement works for any assets with an E rating or lower. March 2017 Achieved
  • Creating Sustainable Buildings

    Target Deadline Progress
    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 Achieved
    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 Achieved
    Ensure all new developments and major refurbishments achieve minimum BREEAM Very Good and an EPC rating of at least C. March 2017 Achieved
    Pilot a post-occupancy assessment of the performance of one building which includes a review of sustainability performance. March 2017 N/A
  • Engaging Stakeholders

    Target Deadline Progress
    Maintain or enhance GRESB performance relative to 2015. March 2017 Achieved
    Provide sustainability training for employees, including annual sustainable building tours. March 2017 Achieved
    Develop and implement an action plan based on outcome of recent customer satisfaction survey. March 2017 Achieved

Up to the financial year ending March 31st 2019, the Group’s sustainability targets were aligned to the three focus areas of our previous sustainability strategy. Our progress against these targets is shown in the tables 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 Achieved
    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 Achieved
    Pilot a post-occupancy assessment of the performance of one building which includes a review of sustainability performance 2016 N/A
  • 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

Up to the financial year ending March 31st 2019, the Group’s sustainability targets were aligned to the three focus areas of our previous sustainability strategy. Our progress against these targets is shown in the tables 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
    Develop project-specific sustainability requirements for contractors, in line with BREEAM requirements and incorporate into relevant building contracts 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