Our approach

At Shaftesbury Capital we are committed to investing for the long term. We take a responsible and forward-looking approach, operating in an environmentally sustainable manner and supporting our local communities. Our goal is to become a Net Zero Carbon business by 2040 through an efficient “retrofit first” re-use and management of buildings. Re-using and enhancing existing buildings, rather than demolition and redevelopment, recognises that our buildings are long term carbon stores. Our sustainable approach increases energy efficiency whilst avoiding carbon emissions and use of materials associated with new construction. 

Further details on our approach, including our focus areas, governance and reporting, can be found in our 2024 Annual Report.

The Floral, Covent Garden — A Showcase of Sustainable Refurbishment

The Floral, located at 27B Floral Street, Covent Garden, has undergone a comprehensive refurbishment, transforming 22,469 sq ft of office space into a modern, energy-efficient workplace while transforming its historic setting. Guided by a sustainability-first brief, the project team delivered a market leading model in responsible redevelopment.

Key sustainable enhancements included replacing the façade and roof insulation, introducing electric air source heat pumps, and removing all gas connections to achieve a fully electrified building. Photovoltaic panels were installed to generate on-site renewable energy, while heat recovery ventilation units further improved energy efficiency. The retention of existing window frames, combined with upgraded glazing, optimised thermal performance and significantly reduced embodied carbon.

Biodiversity was introduced through new green walls and planted roof terraces, creating valuable urban habitats and enhancing wellbeing. The scheme is on track to achieve outstanding sustainability metrics, targeting BREEAM Outstanding and WELL Platinum certifications, with an embodied carbon footprint of 334 kgCO₂e/m²—below LETI’s 2030 benchmark—and an energy use intensity of just 83 kWh/m²/year.

Through detailed planning, material reuse, and close collaboration with stakeholders, The Floral sets a high standard for sustainable refurbishment, implementing key interventions which deliver exemplary environmental performance for high-quality, future-ready workplaces.

Our focus area

Our Environment, Sustainability and Community (“ESC”) strategy is focused on the areas that are most material to our business and where we can have the most positive impact. We have identified the UN Sustainable Development Goals (“SDGs”) that are most applicable and mapped these against our strategy.  Our focus areas are set out below.

Embedding sustainability in our business and supply chains

Sustainability is at the heart of our values, and we are committed to delivering the change that is required to achieve our sustainability aspirations. The Board has oversight of sustainability, with Ian Hawksworth as Chief Executive, having overall responsibility. Day-to-day review of sustainability is undertaken by members of the Executive Committee and the senior management team, with regular reporting to the Board. In 2024, we decided that sustainability and Net Zero Carbon should be a matter for consideration by the whole Board, and the ESC Board Committee was dissolved.

We encourage our employees to participate in our sustainability activities across the business, including support of our community programmes.

We recognise that much of our impact is through our supply chain. We work with partners that reflect our own values on sustainability and expect them to follow our policies and other requirements. Our sustainability related policies and reports are available here.  

Reporting our progress

Shaftesbury Capital is committed to transparency in its sustainability reporting. We have reported in line with EPRA and set out our respective climate risks and opportunities in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). 

We have historically participated in external sustainability indices and benchmarks that help us monitor our performance and identify opportunities for improvement. We will continue to actively disclose our performance and engage with the main sustainability benchmarks as the business moves forward. Our industry benchmarks can be viewed here.