Environment and Buildings
Operating in an environmentally sustainable matter
We are committed to minimising the impact of our operations on the environment and recognise the opportunity and obligation we have to make a positive difference. We are responsible and forward-looking in our approach, operating in an environmentally sustainable manner and have set out clear policies to achieve this.
Our approach
Tackling climate change
We recognise the need to take urgent action on climate change. Shaftesbury Capital has confirmed its commitment to Net Zero Carbon by 2040 and our Net Zero Carbon Pathway details our commitment and actions.
The repositioning of The Floral demonstrates Shaftesbury Capital's commitment to invest in our office portfolio and deliver sustainable amenity-rich workplaces.
Sustainability initiatives
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.
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 strategy
Our Sustainability 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.
Be a leader in the sustainable development of heritage buildings, sustainably adding value and delivering a Net Zero Carbon portfolio by 2040.
How we deliver
- Low-carbon "retrofit-first" reuse of our heritage buildings
- Implement energy-efficient retrofit and encourage low-carbon behaviours
- Integrate new technologies and make "data-led" decisions
Behave as a good neighbour and support our local community, creating sustainable and healthy places.
How we deliver
- Consider future climate scenarios in the design of our buildings and places
- Focus on issues that impact our local community
- Increase biodiversity and create healthier places
Support our people by promoting diversity, talent development and creativity across our team.
How we deliver
- Promote an equitable and diverse culture across our business
- Provide personal and career development
- Maintain a positive health and safety culture throughout the Company
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.
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.
Net Zero Carbon Pathway
We recognise the need to act on climate change and have confirmed our commitment to decarbonise our business through our carbon-efficient “retrofit-first” reuse and management of heritage buildings.
We have reset our comprehensive Net Zero Carbon target to 2040 to align with the Science Based Targets initiative (“SBTi”) long-term carbon reduction requirements, whilst maintaining 1.5˚C aligned 2030 near-term targets. Our carbon reduction targets have been validated by the SBTi. In addition, we will offset our scope 1 and 2 emissions from 2025.
Download our 2040 net zero carbon pathway
