Balanced resources

MAKING OUR MONEY WORK HARDER THROUGH EFFICIENT USE OF RESOURCES ACROSS OUR BUSINESS

Working on innovative projects is helping develop my career – assisting Telford Homes’ preparedness for the FHS and creating great homes for our BtR investors and residents.

Sezer Sahan, Technical Co-ordinator, BLL Champion

 

During the year, the business has responded positively to the UK Government’s net zero carbon target by setting accelerated trajectories and our own target of achieving net zero by 2030.

The FHS, published in June 2021, sets out a roadmap whereby from 2025 new homes will be zero-carbon ready. Our 2030 journey (introduced in 2020) prepares us for these changes – our evolving approach to the FHS can be seen here.

Encouragingly the FHS will enable our supply chain to share knowledge and collaborate on risk management, whilst our BLL strategy ensures Telford Homes maintains its difference with a stronger emphasis on wellbeing and going beyond a circa 75 per cent carbon reduction to net zero. This will be continuously developed through focused workstreams, embedding a low carbon trajectory into our strategy, governance systems and operational targets – visit our journey here

Furthermore, our parent company CBRE has set a Science-Based Target (SBT) approved by the SBT-initiative (SBTi), to reduce greenhouse gas emissions (GHG) by 68 per cent by 2035 – more detail can be seen here. As a subsidiary, we cannot gain individual SBTi approval as our impacts are included in the consolidated Group inventory. However, we have still used its framework to align our emissions to climate science and accordingly, we are committed to an absolute reduction of our Scope 1, 2 and 3 emissions by 12.5 per cent over five years. This aligns well with the FHS trajectory and is a progressive interim milestone towards 2030.

We are publishing our inaugural Task Force on Climate-Related Financial Disclosures Recommendations (TCFD) statement – see an executive summary of the full report. We have undertaken an initial scenario analysis to identify physical and transitional risk and opportunities to operate below 2°C or 1.5°C pathways, as set out in the Paris Agreement 2015. Given this is an emerging area for business and the sector, good practice is still being defined. Accordingly, more detailed disclosures will be published in future reports.

In addition, we have completed a draft internal CDP (formerly known as Carbon Disclosure Project) review, which indicates an anticipated C-rating. Whilst we are not a listed company, we believe a formal CDP application in 2021 will provide greater transparency and credibility of our performance to investors and stakeholders. In summary, each of these approaches and our review of indices – such as the Global Compact, DJSI, FTSE4Good, GRI, GRESB, MSCI, SASB and the United Nations Sustainable Development Goals (SDGs) and project assessments such as BREEAM – informs our BLL strategy by including climate-related risk mitigation across our governance, strategy, risk management and targets.

Over the last four reporting periods, we have seen improvements in our intensity target metrics, including for CO2, energy, waste and water and compared with regulations and industry benchmarks. We achieved 93 per cent of the objectives that we set in 2020 to: reduce energy, GHG emissions (through embodied CO2 and Whole Life Cost (WLC) assessments) and waste (circular economy statements); increase procurement of sustainable materials certified to BES6001 and the Forest Stewardship Council; and align our procurement policies with BLL objectives. This performance update can be seen here.

Our BLL strategy is helping us in sharing risks and opportunities with our supply chain. Through collaboration with key clients such as Greystar, we are reciprocating value and lowering our environmental footprint.

Martin Durant, Managing Surveyor and BLL Champion

We are procuring green electricity by purchasing Renewable Energy Guarantees Origin (REGO) certificates for our head office buildings and all but one of our sites. During 2021, we will connect all sites to the grid and ensure we have compliant Non-Road Mobile Machinery (NRMM) on-site. Each workstream is reducing carbon, reducing costs and importantly improving local air quality. 

 

Greenhouse gas emissions Calendar Year ended 2020 Year ended March 2020 Year ended March 2019 Year ended March 2018
Scope 1 emissions (t CO2e) 1,172.74 1,591.03 1,655.88 1,801.37
Scope 2 emissions (t CO2e) 415.32 519.44 627.68 830.78
Scope 3 emissions (t CO2e) 431.90 756.38 724.32 618.23
Total (t CO2e) 2,019.96 2,866.85 3,007.88 3,250.38
Carbon intensity (t CO2e per FTE) 6.71 8.69 9.03 11.21

 

GHG emissions are reported in line with the UK Government’s Environmental Reporting Guidelines and use the GHG emission factors outlined in the DECC UK Government Green House Gas conversion factors (2020).

We measure Scope 1 direct emissions relating to office, sales, development site activities and travel diesel combustion on our sites and business travel from company leased vehicles.

We measure Scope 2 indirect emissions for purchased electricity and heat for all our sites and offices. Our Head Office in Waltham Cross switched to a green tariff supply from November 2018.

We measure Scope 3 other indirect emissions relating to business travel by road and air.

We are now disclosing our sustainability data against the calendar year, in line with CBRE (parent company) reporting requirements.

Despite this progress, most of our Scope 3 carbon footprint is the embodied carbon associated with the building materials that we use. Hence, we are undertaking retrospective reviews of completed projects and assessing new projects against the LETi Climate Emergency Design Guide; each workstream supports our interim steps towards 2030. Given the complexity of this evolving work, we continue to collaborate with like-minded networks, peers and our supply chain to harness good practice.

Working with Telford Homes at The Lock at Greenford Quay has provided us with the opportunity to demonstrate the added value of pre-fabricating M&E systems, to deliver financial and environmental savings, and consistent quality with a flexible workforce.

Phil Smales, Managing Director of I-MEX

THE LOCK

Residential development of 278 new dwellings for sale and 30% affordable homes.

The landmark tower designed by SLCE Architects occupies the southern half of the former Hovis bakery site, forming the gateway to the Greystarinspired Greenford Green neighbourhood. Its community vision and high-quality placemaking is underpinned by the heritage value of the Grand Union Canal, complemented with sensitively created new public realms and social infrastructure. Climate change, adaptation, mitigation and resilience measures and over-heating are mitigated using CIBSE TM49 and TM52 modelling. Site-wide net-positive biodiverse green infrastructure (and landscape management plans) and sustainable urban drainage systems will help to achieve the targeted air-quality neutral standard and ameliorate the urban heat island effect.

The apartments are 10 per cent larger than the London Plan space standards. To support community cohesion, help reduce urban-loneliness and improve wellbeing, the residents have access to significant levels of internal and courtyard amenities and co-workspaces – its vision is to ‘live, work, breathe and be.’

Read all about The Lock