1,120.00p

Share price at 22:10

Performance

A summary of our performance is provided below.

We intend to collect and present data reflecting the greenhouse gas footprint of the Company’s directly managed assets. We believe this allows for a clear understanding of the greenhouse gas output that we directly influence, and can subsequently manage, versus the greenhouse gases generated by our tenants’ activities, which we cannot manage directly. As such, the consolidation of our greenhouse gas reporting follows the operational control approach as defined by the Greenhouse Gas Protocol.

The figures below provide headline analysis of energy and greenhouse emissions on a like-for-like basis based on the EPRA best practice recommendations on sustainability reporting. For absolute information and for more detailed analysis please refer to the Responsible investments section of our Annual report.  

Our GHG emissions intensity data has been independently assured by Carbon Credentials Energy Services Ltd.
 

EPRA Like-for Like1
EPRA Indicator Sustainability performance measures 2016 2015 % change
Elec-LfL Electricity Landlord shared services 23,292 MWh 24,324 MWh -4%2
    Landlord obtained, sub-metered exclusively to tenants 6,589 MWh 6,541 MWh 1%
    Total landlord-obtained electricity 29,881 MWh 30,866 MWh -3%
Fuels-LfL Fuels Landlord shared services 20,162 MWh 20,830 MWh -3%3
    Landlord obtained, sub-metered exclusively to tenants - - -
    Total landlord-obtained electricity 20,162 MWh 20,830 MWh -3%
GHG-Dir-LfL4 Direct greenhouse gas emissions Scope 1 – emissions from natural gas use and facility operations 3,710 tCO2e 3,842 tCO2e -3%
GHG-Indir-LfL4 Indirect greenhouse gas emissions Scope 2 – emissions from KWE purchased electricity5 9,632 tCO2 e11,119 tCO2e -13%5, 6
  Indirect greenhouse gas emissions Scope 3 – emissions from third parties in value chain 3,830 tCO2e 4,201 tCO2e -9%

Notes

  1. There are 19 assets in KWE's like-for-like analysis, including KWE's top three consumers of electricity and natural gas: 111 Buckingham Palace Road, Fairmont Hotel and H1 Aberdeen. Assets in the like-for-like set were directly managed in both 2015 and 2016.
  2. H1 Aberdeen contributed significantly to the reduction in electricity use with a reduction of over 30% year-on-year.
  3. The Fairmont Hotel, the  portfolio's largest gas consumer, has seen a 16% year-on year reduction in natural gas usage.
  4. Scope 1 and 2 emissions were calculated using the applicable Defra emissions factors that were released in 2016. Scope 1 includes all natural gas consumption. Scope 2 includes all electricity consumption. Exclusively sub-metered tenant consumption has been removed from Scope 2  and included in Scope 3 emissions from tenants who have provided their own energy data, as well as electricity grid "transmission and distribution losses" and KWE business travel data from taxis, train travel and flights. This is reported using the Defra emission factors, 2016.
  5. Scope 2 green house gas emissions factor reductions are a result of de-carbonisation of the electricity supply and not solely based on energy efficiency improvements.
  6. Combined Scope 1 and Scope 2 greenhouse gas emissions decreased by 10% year-on-year for the like-for-like set of properties.