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ESG targets

ESG targets

 
We have established comprehensive short, medium and long-term targets to 2050 against our 2017 baseline year, aligned with the Science Based Targets Initiative (SBTI) methodology.

Our intention is to commit to an ambitious programme to provide long-term resilience for our business. In recognition of the UK’s Net Zero ambitions, we will be reviewing these targets during 2019 – 2020 to ensure we are supporting the requirements to meet a 1.5 degree global warming limit, in-line with the Intergovernmental Panel on Climate Change (‘IPCC’) recommendations.
 
1
Minimising our environmental impact

Expand our data collection on waste management to encompass all multi-let retail assets

We have appointed a third party waste administration, reporting and management solution provider at the sites which generate the most waste to improve data collection and identify efficiency opportunities.

Progress in FY19
By the end of FY19, our programme encompassed all multi-let retail assets. Centre managers at 90% of our assets are now able to provide data on total waste and disposal routes.

Next steps
We will continue to work with Local Authorities and waste providers to ensure we are able to collate granular waste usage data across the portfolio.
 
 

2
Minimising our environmental impact

Expand the switch to Automatic Meter Reading (AMR) systems to cover all electricity, gas and water supplies at all shopping centres and pubs 

In FY18 we began the installation of AMR systems across our shopping centres for electricity and gas to improve energy consumption monitoring, data accuracy and processes to reduce consumption. We are also looking at opportunities to install water AMR systems for the same purpose.

Progress in FY19
By the end of FY19, electricity AMR systems covered 68% of the retail portfolio and 64% of the managed pub portfolio. By the end of the year, 79% of gas meters in our retail portfolio were AMRs.

Next steps
We will complete the installation of gas and electricity AMR systems and begin rollout of water AMR systems at NewRiver’s highest waterconsuming assets.
 
 

3
Minimising our environmental impact

Zero to landfill across the entire portfolio

By using materials more effectively and for longer periods we can reduce the environmental damage caused by sending waste to landfill and reduce the costs of collecting, storing and processing waste. 

Progress in FY19
In FY19, 95% of the total waste of the retail portfolio was diverted from landfill, while 87% of waste at the managed pubs were diverted from landfill.

Next steps
We will work with our site managers to reduce waste to landfill and ensure we achieve 100% diversion rate across our portfolio.
 
 

4
Minimising our environmental impact

Increase the provision of recycling points at our assets

The installation of recycling points at our assets raises public awareness and encourages our customers to live more sustainably.

Progress in FY19
During FY19 we installed additional recycling points, and implemented waste reduction strategies such as collection of food waste through ReFood.

Next steps
We will continue the rollout of additional recycling points across the retail portfolio and conduct waste audits at the managed pub portfolio to identify waste management improvement opportunities
 
 

5
Engaging our staff and occupiers

Implement staff wellness monitoring procedures

The wellbeing of our employees is a measure of our success in engagement and responding to their needs. By implementing wellness monitoring procedures, we ensure engagement is timely and effective.

Progress in FY19
In FY19, we undertook our inaugural staff wellbeing survey, which found that the majority of our staff consider their health to be good or very good. Wellbeing initiatives to enhance staff health and wellbeing further were identified.

Next steps
We will implement wellbeing initiatives in response to the wellbeing survey results in FY19, and conduct another staff wellbeing survey during the year.
 
 

6
Minimising our environmental impact

5% reduction in NewRiver-procured utilities

Energy consumption is a key contributor to climate change and is a cost to our business. By reducing the volume of utilities that we procure as a business, we can save money and reduce our environmental impact.

Progress in FY19
In FY19 we reduced like-for-like electricity consumption at our retail assets by 11%.

Next steps
Through the installation of new metering systems covering all utilities, resource conservation measures and generating our own renewable energy, we will continue to reduce the volume of procured utilities.
 
 

7
Minimising our environmental impact

5% reduction in NewRiver Greenhouse Gas (‘GHG’) emissions from 2017 levels

GHG emissions are a key contributor to climate change, and reducing emissions through improving energy efficiency and sourcing energy from renewable sources can significantly reduce our environmental impact. 

Progress in FY19
In FY19, we reduced our like-for-like GHG emissions by 19% driven by a reduction in energy usage and lower 2018 emission factors. Our absolute GHG emissions increased compared to FY18 as we included the pub portfolio in our reporting this year following the acquisition of Hawthorn Leisure in May 2018.

Next steps
We will expand initiatives at our assets to produce on-site renewable energy and conserve energy. We plan to review our emissions reduction targets during 2019 – 2020 to reflect across both our managed pub portfolio as well as our retail operations. 
 
 
 

Medium-term targets (by 2030)

 
1
75% of waste generated at NewRiver assets is recycled 
Improving recycling rates helps us to minimise our environmental impact by reducing waste sent to landfill. We collect data on diversion rates including recycling across our retail and pub portfolio to identify improvement opportunities.
 
2
75% of energy procured from renewable sources
By procuring energy from renewable sources, such as wind and solar energy, we avoid using the planet’s finite resources and prevent the environmental damage of burning fossil fuels. We can procure renewable energy by either generating it ourselves (such as through installing solar PV panels at our shopping centres) or through using renewable energy suppliers.
 
3
20% reduction in NewRiver procured utilities
Energy consumption is a key contributor to climate change and is a cost to us as a business. By reducing the volume of utilities that we procure as a business, we can save money and reduce our environmental impact.
 
4
20% reduction in NewRiver GHG emissions
GHG emissions are a key contributor to climate change, and UK companies are required to disclose volume of GHG emissions. By reducing GHG emissions we reduce our environmental impact.
 
 

Long-term targets (by 2050)

 
1
Over 25% of NewRiver energy generated from renewable sources at our own assets
Many of our assets provide a large amount of unused roof space appropriate for generating renewable electricity. NewRiver already has solar PV Panels at five of its assets, capable of powering around 145 UK homes.
  
2
100% of energy procured from renewable sources
By procuring energy from renewable resources, such as wind and solar energy, we avoid drawing on the planet’s finite resources and prevent the environmental damage of burning fossil fuels. We can procure renewable energy by either generating it ourselves (such as through installing solar PV panels at our shopping centres) or through using renewable energy suppliers.
  
3
40% reduction in NewRiver procured utilities
Energy consumption is a key contributor to climate change and is a cost to us as a business. By reducing the volume of utilities that we procure, we can save money and reduce our environmental impact.
 
4
40% reduction in NewRiver GHG emissions
GHG emissions are a key contributor to climate change, and UK companies are required to disclosure volume of GHG emissions. By reducing GHG emissions we reduce our environmental impact.