Some of the challenges we face
The UK has a target to reduce carbon emissions by 80% by 2050
The UK still sends c. 50m tonnes of waste to landfill per year
Emissions from buildings account for c.40% of UK GHG emissions
Livestock production accounts for over 14% of global GHG emission
How are we helping to solve this problem?
Across our funds, our Sustainable Living investments have been addressing challenges like these by trying to divert waste from landfill; by promoting a more sustainable approach to food and farming; by refurbishing buildings to make them more energy-efficient; and more.
158/170 Edmund Street
158 and 170 Edmund Street are two adjoining office buildings, located in the prime office core of Birmingham city center, comprising a total of 30,000 sq ft. The property was acquired in 2012 in partnership with Evenacre. Bridges undertook a refurbishment to create high-quality, sustainable office space for a growing number of tenants seeking modern office facilities within the CBD of Birmingham.
Building works included a range of environmental initiatives including intelligent lighting and solar photovoltaic panels. These works improved the property’s EPC rating from D to B, delivering a forecast 44% carbon saving whilst significantly reducing total occupational costs for tenants owing to lower energy and service charge costs. Following completion of building works the property has been fully let to a range of tenants at headline rents of up to £25 per sq. ft.
The 158/170 Edmund Street offices in Birmingham were sold in December 2014 to F&C UK Property Fund for £11.65m, reflecting a yield of 5.75%.
World of Books
World of Books, a market-leading ‘circular economy’ technology business, has pioneered the reuse and recycling of books that might otherwise go to landfill. It works with charity shops and recycling merchants to collect and buy used books, while also buying unwanted books directly from consumers.
Their innovative technology platforms have enabled World of Books to re-sell as many of these books as possible, via its own website and others such as Amazon and eBay, while the rest are recycled to make corrugated cardboard packaging and newsprint. This allows World of Books to offer over 2m high-quality, low-cost used books for sale to a global customer base – while also reducing carbon emissions.
World of Books will scale up its efforts to avert carbon emissions, firstly by increasing the re-use of books that would otherwise have been pulped, and secondly by reducing demand for virgin pulp through recycling.
Some examples of our impact
Of CO2 was saved through renewable and green energy usage across our property portfolio in 2016 alone
Waste produced during construction diverted from landfill
Average reduction in annual CO2 emissions against baseline for all new construction projects