Brunswick Property Partners
We are working with Brunswick Property Partners to assist them in achieving net zero across their funds, starting with Lonsdale Road
Building a net zero community in the heart of London
Net roadmap
emissions from assets in their direct control by 2030
Brunswick’s commitment to sustainability
Brunswick Property Partners identified increasing investor demand for direct investment in progressive and sustainable real estate strategies and wanted to embed ESG throughout their operations from the outset. They are committed to create sustainable, engaging and healthier workspaces that benefits occupiers, the environment, and local communities whilst driving investor returns.
They are members of the World Green Building Council’s advancing net zero commitment to ensure their buildings operate at net zero carbon by 2030.
Net Zero in the built environment
Net zero portfolios represent a transformation in how buildings are managed and are necessary to transition to the zero carbon economy. For real estate, not adapting to the climate crisis will risk buildings becoming obsolete and losing value because they are unattractive to let or purchase.
By pursuing net zero in the built environment we will end up with better buildings, which will be cheaper and easier to operate, and more comfortable, responsive, and easier to maintain. By using the UKGBC’s Advancing Net Zero Framework and engaging with all key stakeholders we worked with Brunswick to understand what it would mean to create a net zero community on Lonsdale road.
Embedding sustainability into brand identity
Brunswick brought in Carbon Intelligence to conduct an ESG review of their portfolio and come up with recommendations of how to cement ESG and sustainability into their identity as a fund and positively influence their stakeholders and occupiers to come on their sustainability journey with them.
One of our recommendations was to make part of their portfolio, Lonsdale Road, net zero. This would provide Brunswick with the flagship example they needed to differentiate themselves in the market with their offer of creating net zero communities and place net zero ambition at the core of their business.
A key challenge from the outset was engaging a range of stakeholders and gaining buy-in into the pathway as something that is mutually beneficial. This was resolved through a series of tenant engagement workshops to empower tenants and managing agents with the knowledge to understand net zero and its benefits for them.
Process
The project initially involved a ESG review of their business to understand their current position and focus on the most material opportunities to improve sustainability within their portfolio. After agreeing to explore net zero at Lonsdale Road, Carbon Intelligence surveyed the road specifically with net zero in mind and collected site data to set an approximated baseline.
The initial stages heavily focused on tenant engagement. The CI and Brunswick teams worked together to engage tenants and property owners on Lonsdale Road on their understanding of net zero and how that would integrate to the everyday reality of working on the street.
Another crucial step to developing the pathway was forecasting for future fit-outs. CI conducted some benchmarking to account for the embodied carbon of each individual fit-out. This process resulted in the refinement of the fit-out specification to reduce embodied carbon and improve efficiency for Brunswick to use going forward. Such as removing gas boilers and including air source heat pumps in their units.
Key Benefits
Brand reputation
Engaged and informed tenants
Reduced risk of stranded assets
Green energy: All tenants to agree to go onto green tariffs
Advancing net zero: Brunswick are now signatories of the World GBC Net Zero Carbon Buildings Commitment
Takeaways
Looking forward: Brunswick is investigating installing a ground source heat pump beneath the road which would provide zero carbon heating to the entire road. They are also looking into solar PVs across the portfolio to further reduce emissions.
A key part of success going forward will rely on the upskilling and continued engagement with managing agents to maintain cadence with the programme and ensure this pathway turns into a reality. During World Green Building Week 2020 Brunswick became signatories to the World GBC Net Zero Carbon Buildings Announcement, committing to reduce emissions in buildings within their direct control to 0 by 2030.