LondonMetric Property sustainability score: 47/100

Scope 1 at 77 tCO₂e (2024) and Scope 2 market-based at 15 tCO₂e under GHG Protocol with third-party ISOS assurance. Covers 361 of 591 properties. Scope 1 rose 171% year-on-year due to LXi merger portfolio expansion, not operational decarbonisation. NNN lease structure means occupiers directly bear energy costs.

Building-sector GHG (landlord and tenant combined) totals 88,881 tCO₂e across portfolio (2024). 2023 baseline of 98,512 tCO₂e established post-merger under Net Zero Pathway. Data coverage increased from 152 to 361 properties. Occupier engagement via green lease clauses underway. Embodied carbon tracking in place; formal baseline and target deferred to 2027.

Logistics sector declined 9% (34,027 to 30,939 tCO₂e 2023–2024), but LXi merger doubled portfolio. Entertainment/leisure rose 2,010% and convenience rose 170%, primarily from newly acquired assets. No confirmed like-for-like reduction across full merged portfolio. Like-for-like coverage only 240 of 591 properties. Net Zero Pathway targets 71% reduction by 2035, not yet evidenced.

10.6MWp solar installed across portfolio as of September 2025 (18% by area). Market-based Scope 2 electricity at 15 tCO₂e indicates near-zero landlord grid emissions. Gas replaced with electric heating at Bicester and Eastleigh (2024). Landlord controls only small fraction of total energy; 92% occupier-side energy not fully covered by renewable procurement. No RE100 membership.

No TNFD adoption or disclosure found. No quantified biodiversity metrics, nature dependency assessments, or deforestation commitments identified in ESG reports. BREEAM requirements on new developments noted. Portfolio of ~600 UK assets represents material land footprint with moderate ecosystem impact. Biodiversity reporting remains unreported with no measurable outcomes.

NNN leases mean landlord waste reported as zero; tenant-controlled. Refurbishment systematically preferred to demolition with LED upgrades and electrification embedded. BREEAM Very Good targeted on direct developments. Embodied carbon tracked on major refurbishments with target set by 2027. Green procurement policy in place. No comprehensive circularity programme with verified metrics.

Like-for-like water coverage only 34 of 240 properties (absolute) and 27 of 240 (like-for-like) under NNN leases, reflecting minimal landlord-controlled water use. No water pollution risk from operations identified. Energy and data platform implemented for tracking. No water reduction targets, stewardship programme, or watershed engagement found.

Net Zero Pathway published July 2025 by Savills Earth, aligned with CRREM and UK Net Zero Carbon Buildings Standard. Targets: Scope 1&2 net zero by 2027, 71% portfolio reduction by 2035 from 2023 baseline (98,512 tCO₂e), full portfolio net zero by 2050. Reduction-first approach with offsets limited to residual emissions. No SBTi validation; self-set internally validated targets.

Annual Responsible Business and ESG Reports published; EPRA sBPR environmental data (EPRA Gold Award); TCFD disclosures. Third-party limited assurance by ISOS under AA1000AS. External benchmarks: GRESB 73 (two stars, above peer), CDP A-, MSCI A, FTSE4Good, ISS C-. Board oversight through Audit Committee documented. No evidence of executive pay linked to sustainability targets.

No regulatory fines, greenwashing rulings, ASA adjudications, or credible NGO criticisms found. Not listed in InfluenceMap LobbyMap; no evidence of climate policy lobbying. NNN lease REIT with no fossil-sector structural enablement. Included in FTSE4Good, CDP (A-), MSCI (A), and GRESB rankings, all of which screen for material controversies.