Responsible SEGRO demonstrates how our environmental and social contributions are embedded within our business strategy and are fundamental to how we create the space that enables extraordinary things to happen – whether that is the spaces that we create for our customers or enabling our people and the communities and environment close to our warehouses to flourish. Within it we have three priorities:
Championing low carbon growth
SEGRO recognises that the world faces a climate emergency and we are committed to playing our part in tackling climate change, by limiting global temperature rise to less than 1.5°C, in tandem with growth in our business and the wider economy.
Targets
Our carbon reduction targets are a 42 per cent reduction in corporate and customer emissions, and a 20 per cent reduction in the embodied carbon intensity of our developments, both targets by 2030 against a 2020 baseline. We are reviewing new net-zero target guidelines and we intend to publish any new targets in our 2024 Annual Report and Accounts.
Actions
We will reduce carbon emissions from our development activities, operation of our buildings, and throughout our value chain. We will set challenging targets and drive to achieve them as early as possible.
Investing in our local communities and environments
SEGRO is an integral part of the communities in which it operates, and we are committed to contributing to their long-term vitality.
Targets
We will create and implement Community Investment Plans for every key market in our portfolio by 2025.
Actions
We will work with our customers and suppliers to support our local businesses and economies. We will
help improve the skills of local people to enhance their career and employment opportunities, by investing in
local training programmes. Equally, we will enhance the spaces around our buildings, working with local
partners to ensure we meet the needs of our communities.
Nurturing talent
SEGRO’s people are vital to and inseparable from its success, and we are committed to attracting and retaining a diverse range of talented individuals in our business.
Targets
We will increase the overall diversity of our own workforce throughout the organisation and we have set ourselves clear goals to work towards.
Actions
We will provide a healthy and supportive working environment, develop fulfilling and rewarding careers, foster an inclusive culture and build a more diverse workforce.
Non-Financial KPIs
Customer satisfaction %
What it is
The percentage of our customers who rate their experience as occupiers of our buildings as ‘good’ or ‘excellent’ as opposed to ‘poor’ or ‘average’. Our customers are at the heart of our business and we strive to ensure that we are providing the best level
of service possible to maximise customer retention.
Our performance
Satisfaction as an occupier of our buildings was rated as ‘good’ or ‘excellent’ by 86 per cent of the 355 customers who participated in 2024 (2023: 86 per cent). The continued high satisfaction rate reflects our focus on communication, being responsive and understanding the needs of our customers and is particularly pleasing given the cost pressures that some of them are under (including rental increases).
Employee engagement %
What it is
We carry out an employee survey annually asking all our people to comment on various aspects of their work at SEGRO. We share the results of this with the Board, Leadership team and all our people.
Our performance
Our 2024 employee engagement score was 86 per cent. 95 per cent of our people responded and 87 per cent of employees said that they are proud to work at SEGRO.
89 per cent of employees believe that all people are valued at SEGRO, regardless of gender, ethnicity, disability, sexual orientation or background.
Employee volunteering days
Description
We have a strong track record of supporting local communities. We now have 14 Community Investment Plans across the Group and measure the number of employees who volunteered in projects (including on our annual Day of Giving) associated with them.
Our performance
During 2024 we delivered 700 employee volunteering days. 437 employees (94 per cent of the workforce) did at least one day of volunteering. Alongside this 154 customers, suppliers and financial stakeholders delivered a further 273 days.
Corporate and customer emissions intensity kgCO2e/sq m
Description
Our corporate and customer carbon emissions cover our own operations under Scope 1 and 2 and our customer emissions under Scope 3. We have visibility of 87 per cent of the energy use from our buildings by floorspace. For buildings where we do not receive data we have estimated energy use. We established new science-based targets during 2024 in line with the new ‘Buildings’ framework. We now have a near-term target to reduce the intensity of our corporate and customer emissions by 81 per cent by 2034 (versus the new 2023 baseline) and to be net-zero by 2050.
Our performance
Our corporate and customer carbon intensity increased slightly to 36.4 kgCO2e/sq m during 2024, versus the new restated 2023 baseline of 36.1 kgCO2e/sq m. Whilst we reduced emissions in a large part of the portfolio, we saw a significant increase in emissions from our data centre customers. Data centre operators are on their own net-zero journey with commitments to reach 100 per cent renewable energy by 2030, we will continue to work closely with them to ensure they deliver on that commitment.
Visibility of customer energy Use %
Description
Under standard market lease terms we do not have automatic visibility of customer energy usage data. We recognise the importance of having good visibility of this data so we can accurately assess our Scope 3 emissions and help our customers to reduce their own carbon footprint as well as improving their energy efficiency. We are therefore proactively engaging with our customers, requesting access to this data and have introduced green clauses requiring energy use visibility (as well as a commitment to secure renewable energy tariffs where possible) to all new leases.
Our performance
The visibility of our customers’ energy use improved to 87 per cent (2023: 81 per cent) of our total property footprint by area.
Embodied carbon intensity kgCO2e/sq m
What it is
The largest source of carbon emissions within our control is the embodied carbon in our newly developed buildings. We established new science-based targets during 2024 in line with the new ‘Buildings’ framework. We now have a near-term target to reduce embodied carbon intensity by 58 per cent by 2034 (versus the new 2023 baseline) and to be net-zero by 2050. We calculate this metric based on completed developments over the past two years for which a life cycle assessment has been completed.
Our performance
The average embodied carbon intensity in our development programme was 318 kgCO2e/sq m reflecting a 4 per cent improvement from our new 2023 baseline. We reduced this by trialling low carbon or recycled materials, including concrete, steel and timber across multiple projects.