ESG | Tritax Big Box

DELIVERING ESG PERFORMANCE FOR THE FUTURE

We take a long-term view, committed to ensuring our spaces can meet key ESG ambitions for all of our stakeholders, making a meaningful difference for the people who work in our buildings and live in our local communities. We work collaboratively with our clients, starting from the design and specifications of their buildings to ensure they are as efficient and resilient as they can be, are aligned with corporate ESG objectives, and provide the best workplaces to attract quality people.

Data is integral to maximising the effectiveness of our approach, to ensure we are tracking and delivering our performance and continuing to add value to our spaces through proactive asset management and new innovations.

Our four pillars of focus

Sustainable buildings

We have committed to integrating ESG across the investment lifecycle, from acquisition and development to asset management and exit.

Climate and carbon

We are transitioning our portfolio and assets to achieve net zero carbon, whilst also managing physical climate risk for all assets in our portfolio.

Nature and wellbeing

We are enhancing biodiversity and wellbeing across our portfolio to have a positive impact on our climate and natural world.

Social value

We are using our portfolio to create value and make a meaningful difference for people and communities.

Aligning to UN SDG 11

To integrate ESG across the investment lifecycle, from acquisition and development to asset management and exit.

Target:

100% of all asset due diligence uses Tritax Management’s ESG due diligence framework

KPI:

Utilisation of ESG due diligence framework: 100%

Target:

Produce and implement low-carbon baseline development specification on all new projects

KPI:

Production and utilisation of low-carbon specification: complete

Our Approach

Integrating ESG throughout our business

Our responsible investment approach is underpinned by global frameworks and benchmarks; evidence and data; and collaborative partnerships with clients, investors, communities and suppliers.

Aligning to meaningful ESG targets

Our ESG strategy aligns with the Paris Agreement decarbonisation pathways, ensuring that our portfolio is resilient to the changing climate and makes a positive contribution to global net zero carbon targets. By measuring our strategy against meaningful targets, we track our progress and can be held accountable.

Leading ESG ratings

Our strategic approach has led to leading ESG ratings. We focus our energy and expertise on understanding where we can directly impact and where we need to influence, facilitate or partner on sustainable initiatives. This includes improving EPCs; offering green leases; encouraging the adoption of renewable energy; developing climate resilience and biodiversity measures; encouraging sustainable transport and supply chain management.

Making a measurable impact

We ensure our investments have a measurable and positive impact on communities and people across our operating footprint. We work with clients throughout our partnership to ensure buildings across our portfolio protect and improve the surrounding nature, whilst enhancing the wellbeing of people inside and outside them.

A responsible Manager

Tritax Big Box’s Manager, Tritax Management LLP, is responsible for delivering the Company's ESG strategy, reporting to the Big Box plc Board - who are committed to ensuring that the long-term interests of all stakeholders are being served.

Strong governance and strategic management

Tritax Management LLP has implemented a responsible business plan to minimise its operational impact and provide low carbon services to the Company. It is accredited in ISO 14001 for the environmental management of Tritax Big Box REIT.

Delivering on our ESG strategy

EPC B or above (standing assets) (2022: 78%)

kg CO2e/m²

Upfront embodied carbon target

kWh/sq ft

Weighted average portfolio energy intensity

kg CO2e/sq ft

Weighted average portfolio carbon intensity

REIT stats as of 31 December 2023

RECOGNITION FROM MARKET-LEADING INDICES

We continuously seek to improve our ratings among key sustainability and ESG benchmarks — demonstrating our commitment to reaching our ESG targets.

COLLABORATING WITH OUR STAKEHOLDERS

We cannot achieve our ESG targets alone. We seek to collaborate with our stakeholders in a variety of ways to further our — and the wider macro — ESG agenda.

ESG IN ACTION

Our priority is the delivery of ESG performance through integration into our operational activities. Here are some examples.

Investment lifecycle integration

We consider ESG factors across the investment lifecycle, using a template consisting of key ESG criteria. Our development programme uses a low-carbon baseline specification and an embodied carbon target to enable low-carbon construction. Our asset management programme is key to delivering our net zero carbon targets in collaboration with clients.

Net zero carbon

We minimise carbon in developments any way we can by using low-carbon materials and methods. As a last resort, we offset residual carbon through certified carbon credits. We are exploring and implementing initiatives in collaboration with clients to remove operational carbon, increase efficiency and introduce renewable generation on our sites.

Biodiversity

Our development site at Littlebrook, Dartford was a brownfield but is now enhancing biodiversity, natural capital and social value. The largest building on site has a 3.5MWp solar array on the roof — and 30% of the site is set aside for open space and habitat creation. Over 1 million bees are being looked after by a group of local beekeepers who also involve local schools.

Tritax Social Impact Foundation

We want to help young people in the communities across our portfolio to fulfil their potential. We work with our clients and local stakeholders to provide platforms for education and opportunity to unlock the potential of the next generation and offer a brighter future for our local communities.

Schoolreaders

We have worked closely with Schoolreaders for several years, with a focus on supporting the charity to expand its reach to more children. As of 2023, we helped provide 1,570 children with 1-to-1 reading support for a year.

DOWNLOAD OUR ANNUAL REPORT

Transparency is key to our partnerships with clients, investors and stakeholders. Our 2023 Annual Report provides a comprehensive look into our strategic framework, ESG goals and performance.

Download

Social Value

We are committed to having a positive social and economic impact in the communities where we own or are developing assets.

Find out more

Board

The Board is responsible for promoting the long-term sustainable success of the Company and generating value for both shareholders and other stakeholders through effective leadership.

Find out more

Policies & Reports

A comprehensive set of policies is in place to ensure effective governance and high ethical standards across the business.

Find out more

Contact Us

Alan Somerville

ESG Director, Tritax Management LLP

alan.somerville@tritax.co.uk +44 (0)20 8051 5064

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