Land Securities sustainability score: 54/100

Landsec published full Scope 1 (5,809 tCO₂e) and Scope 2 market-based (2,761 tCO₂e) for FY2023/24, externally limited-assured by EY. 100% renewable electricity via green tariffs; location-based Scope 2 (17,667 tCO₂e) also disclosed. Multi-year data available from FY2019/20. Minor deduction: REGO-backed tariffs lack PPA additionality confirmation.

Landsec reports 204,709 tCO₂e Scope 3 (FY2023/24), covering capital goods (73,355 tCO₂e), downstream leased assets (88,415 tCO₂e), and purchased goods (35,354 tCO₂e). Supplier guidance exists. Tenant engagement programme described. Partial disclosure—not all 15 categories quantified, capping at 6.

Absolute total emissions fell from 300,338 tCO₂e (FY2019/20) to 228,185 tCO₂e (FY2023/24)—24% reduction. Scope 1 fell 37%; Scope 2 location-based fell 30%; Scope 3 fell 23%. FY2024/25 reports 33% reduction. -47% by 2030 target requires material further acceleration, particularly in Scope 3.

100% landlord-obtained electricity from REGO-backed green tariffs (confirmed three years running). Total energy 68% renewable (FY2023/24); 2030 target 85%. Gas remains material gap; Scope 1 natural gas is largest fossil source. New developments designed 100% electric. PPAs under exploration.

Landsec published TNFD-aligned disclosure in FY2024 report, cited as UK exemplar by Green Finance Institute. 'Let Nature In' strategy and supplier nature requirements guide established. Biodiversity net gain targets set across assets and developments. No deforestation exposure. Outcomes not yet independently verified.

Zero operational waste to landfill; 66% recycling rate across operations (target 75%); 99.5% recycling in new developments. 100% core construction materials certified responsible-sourced. Embodied carbon reduction 41% average across pipeline (target 50% by 2030). Circular design principles embedded.

Landsec reports total water withdrawal (823,441 m³ FY2023/24) and intensity (0.46–0.50 m³/m²). Water assessments conducted; automatic meter reading being installed. Sustainable Development Toolkit incorporates water efficiency. No published absolute reduction targets; company states it is 'setting metrics and targets' as of FY2024/25.

SBTi-validated -47% absolute (Scopes 1, 2, 3) by 2030 and -90% absolute by 2040 (net zero), from FY2019/20 baseline. Updated March 2023. First commercial property firm with SBTi approval globally (2016). £135m Net Zero Transition Investment Plan initiated. Only 24–33% reduction achieved to date; long-term 90% target ambitious, not yet on-track.

Annual Sustainability Performance and Data Report (EY limited assurance since 2019). TCFD/TNFD statements published. CDP A- (2023). GRESB 5-star for eight consecutive years; EPRA Gold for tenth year. ESG metrics in executive LTIP and annual bonus. Board oversight confirmed. No mission-locked governance or shareholder voting on climate targets identified.

No ASA, FCA rulings, or upheld complaints found. No InfluenceMap profile as climate obstructionist. No deforestation, pollution, or environmental damage controversies. Urban commercial REIT with no fossil-sector infrastructure enablement. No trade association conflicts identified. Proactive published lobbying audit not located.