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Corporate Responsibility Report 2010 people
About us Our environment Our Our marketplace Our communities Our performance
Responsibility:
our non-stop approach
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Our environment
Our marketplace
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Our communities
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Our marketplace
Our performance
Our people
1 Customers 2 Suppliers 3 Investors
Our environment
Our communities
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Responsibility: our non-stop approach
Corporate Responsibility Report 2010
people
stop icons
Our communities
Non-stop icons
Our communities
About
Our communities us Our environment people
OurNon-stop icons Our marketplace Our marketplace
Non-stop icons Our communities Our performance
Our marketplace Our marketplace
Non-stop icons Non-stop icons
Non-stop icons
Contents
1 Customers 2 Suppliers 3 Investors
1 Customers 2 Suppliers 3 Investors
About us Our marketplace Our communities
Our communities
Introduction Our environment Our environment 2 Introduction Non-stop icons Non-stop icons
1 Customers 31Suppliers
2
Our environment
Low emission
2Non-stop icons buildings 3 Energy efficient
Non-stop icons 4 Flora
Non-stop icons
versity 1 Community
2 Engagement 3 People into action 2 suppliersand money work
Why CR?
1 Community
4 4 A time
Our Giving great place to 3 Built environment
32
2 Giving time and money 3 Built environment
1 Community 2 Giving time and money 3 Built environment
Executive statements 6 Our customers 34
Our stakeholders 9 Our investors 36
Governance 11
Our environment Our communities
Introduction
2 Low1emission buildings people 3 Energy efficient
Our
Our people 12 1
Introduction 3 Energy Community 38
2 Giving time and money
Recycle 1 emission 4 Flora1 Recycle2 Low emission buildingsFlora emission buildings
2 Low Recycle buildings 3 Energy
Non-stop iconsefficient 42 Low 3 Energy efficient efficient
4 Flora 4 Flora
Non-stop icons 1 Community 2 Giv
Energy and emissions 13 Community engagement 39
Waste and resources 16 Employment, learning and life skills 43
Design and innovation 19 Giving time and money 45
Planning, land use and biodiversity 21
100
90
80
70
60
50
40
Our people Our performance
30
20
10
0
Introduction
1 Diversity 21 Diversity
Engagement
22
3 People into action
Introduction
2 Engagement
48
4 A great place to work 3 People into action 4 A great place to work
Engagement and recognition 23 2009/10 performance data 49
Health, safety and wellbeing 26 Progress against 2009/10 targets 56
Learning and development 28 2010/11 targets 64
Diversity and equal opportunities 30 Advisors’ statements 69
Glossary 74
Contact us 75
1 Contents
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
About us Land Securities is the UK’s leading Real Estate Investment
Trust. In layman’s terms, that means everything we do is
about property. We manage office buildings, run retail parks
In shaping the future of property, and shopping centres, and build new properties. Together,
these are worth almost £10 billion.
we take practical, responsible and
With 260 million customer visits a year, the 50 retail parks,
sustainable action over the long shopping centres and designer outlet centres that make up
term. And by constantly reassessing our Retail business are often the heart of the community in
which they are located. We continually invest in our retail
and refining our approach to CR, we centres to ensure that consumers enjoy a great shopping
experience and the retailers benefit from a thriving
help to create value for our business business environment.
and our investors, create buildings Our London business owns landmark buildings such as
that respect the environment, and Cardinal Place, New Street Square and the Piccadilly
Lights and it is estimated that some 50,000 people spend
build strong relationships with our their working day in a Land Securities office. We also invest
in the development and regeneration of office space, with
customers, suppliers and neighbours. major projects currently underway in the City, West End
and Victoria.
View the report online at
www.landsecurities.com/crreport10
2 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Awards and
commendations 2009/10 highlights
Our environment
2010 Sustainable City Awards
15.3%
Reduction in CO2 emissions from
• Land Securities – winner, ‘Tackling Climate
Change’ category Retail Portfolio
• Land Securities – winner, ‘Responsible Waste
Management’ category
• Land Securities – shortlisted, ‘Resource
22.5%
Reduction in water use in London Portfolio
Conservation’ category
• Land Securities – winner, Sustain Magazine Leadership
In Sustainability Award
84%
Waste diverted from landfill
2010 RoSPA Occupational Health and Safety Awards
Our people
• Gunwharf Quays – winner, Gold award
2010 MIPIM Architectural Review Future Projects Awards 78%
• One New Change – winner, ‘Overall’ category Employee response rate to annual survey
• One New Change – winner, ‘Mixed Use’ category
2009 Estates Gazette Green Awards
86%
Employees with a learning and
• Cabot Circus – Overall Green Development of the Year
development plan
2009 New City Architecture Award
• New Street Square – winner Our marketplace
2009 Building and Construction Industry Awards
• New Street Square – highly commended, ‘Major Project
97%
Retail tenants willing to recommend us
of the Year’ category as a landlord
2009 RIBA Awards
• New Street Square – winner 10,701
Investors signed up to receive the Annual
Report electronically
Our communities
£871,238
Total community investment
6,289
Total employee volunteering hours to date
View the report online at
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3 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Why CR? Why does CR matter?
We believe companies should act responsibly. We also
believe CR works best when it makes a difference for
Corporate Responsibility (CR) is about striking everyone – including the company and its shareholders. Put
the right balance between the economic, simply, CR matters to us because we want to be a business
that people want to do business with.
environmental and social aspects of our
activities, and acting responsibly towards Every action we carry out must be commercially sound and
make a difference. Only then can it truly be sustainable.
others. We do it because it makes us a better
We can generate benefits for our company as well as create
business... because we can... and because value for the individuals and communities we interact with.
we should.
How does our CR strategy fit in with our
business strategy?
Our new corporate vision, ‘Shaping the future of property’,
highlights our intention to lead in everything we do and to
set the standards for tomorrow. It was developed through
consultation involving more than 120 employees from
around the Group, and launched in October 2009.
We also developed a separate but compatible vision for
our CR activities – ‘Making a Difference’. This underlines
that our CR actions are designed to have a clear and
tangible benefit for the company as well as providing
places that people want to shop, work and live in, greater
returns to our shareholders and a great place to work for
our employees.
These aims are underpinned by our core values –
customer service, respect, integrity, excellence and
innovation – which influence the way we go about our
business, each and every day.
OUR 10-YEAR ObjECTIVES
• Our environment: to reduce our carbon emissions by 30%
by 2020.
• Our people: to be recognised in the UK as an employer of
choice for developing people to be the best they can be.
• Our marketplace: to set the standards for innovation, value
and service that others aspire to.
• Our communities: to be recognised by local communities as
the number one partner for the delivery of positive social and
economic impacts.
View the report online at
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4 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
WhAT AbOUT EThICS? How does CR affect how we work?
Our commitment to CR means that we already have
The reputation of the Group, and the trust and confidence a strong reputation within the industry: as a landlord
others have in us, are vital to our long-term success. As part that understands its occupiers and works with local
of our CR programme, we have updated our Business Ethics communities, a business that develops its employees
Policy so that we maintain high ethical standards. We also have and a developer that leads the sector’s thinking on
a Whistle-blowing Policy designed to encourage employees – environmental issues.
anonymously if necessary – to raise issues related to unethical
or inappropriate activities through a dedicated telephone and
CR drives our approach to developing and maintaining
email hotline.
long-lasting, collaborative partnerships with our
stakeholders. by aiming to lead, not follow, wherever
we can, we can share our knowledge and expertise to
everyone’s benefit.
So what’s next?
As part of our non-stop approach to CR, we have recently
outlined the four key areas of focus for the business. We
have one over-arching 10-year objective for each area of
CR activity although, given the nature of our business, we
believe the areas in which we can have most impact are the
environment and the communities in which we operate.
We also have annual targets, which act as milestones along
the way. Meeting these targets will ensure we remain on
track to meet our 2020 objectives (see panel on page 4).
For more information please go to
• Engagement and recognition (page 23)
• Performance data (page 49)
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5 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Letter from I think it’s true to say that Land Securities has always been
a leader in Corporate Responsibility. We were the first
Francis Salway property company to appoint an energy manager way
back in 1981 and in 2004, we were the first to achieve
– Chief accreditation for an Environmental Management System
across our entire property portfolio.
Executive This year, we have continued to take a lead on CR issues.
We have taken an innovative and award-winning approach
to carbon offsetting for our shopping centres. And in our
London offices, we have two pilot schemes to see how
Our people are motivated by ‘making a changing behaviour can reduce carbon emissions.
difference’. By developing a leadership
It has become increasingly clear that you can’t just do what
position in areas such as environmental you are obliged to do; businesses need to go beyond the
sustainability, community relations and bare minimum, beyond compliance. For me, our CR vision
employee development, we will remain clearly supports that.
the kind of company people want to
Our people are motivated by ‘making a difference’.
work with – and for.” by developing a leadership position in areas such as
environmental sustainability, community relations and
employee development, we will remain the kind of
company people want to work with – and for.
That’s why we have adopted a non-stop approach to CR, to
keep pushing the boundaries forward, whether it’s building
trust among employees and business partners, behaving
ethically or respecting the environment. To strengthen
our business, we’ve redefined our CR strategy, established
four areas of focus to cover our environment, people,
marketplace and communities, and set 10-year objectives
Group at a glance for each to shape our ongoing CR activities.
£9.5 billion These long-term objectives are challenging yet achievable.
Total value of property owned and managed We believe that CR should be part and parcel of our
everyday work and that as we work towards these goals, our
achievements really will make a difference.
680 Employees
25,000 Shareholders
3,150 Suppliers Francis Salway
Chief Executive
2.4 million m2
Total area of commercial property
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6 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Letter from Even though we’re experiencing a tough operating
environment, CR remains a big issue in the retail sector.
PIC Richard Akers – Consumers are increasingly aware of CR issues and
retailers continue to push CR higher up the agenda and use
Managing it to differentiate themselves from their competitors.
Director, Given this setting, it’s important that landlords respond
appropriately. but Land Securities doesn’t have to play
Retail Portfolio ‘catch-up’. CR has been on our agenda for a long time
and we continue to take strides in helping our customers
to reduce costs, trade through the tough times and achieve
Consumers are increasingly aware their own CR goals.
of CR issues and retailers continue Reflecting our non-stop approach to CR, we continue
to push CR higher up the agenda. to empower people and demonstrate leadership and
Given this setting, it’s important that innovation. Some of our sector-leading initiatives, such
landlords respond appropriately. But as our Clearlet lease offer, which simplifies the leasing
process documentation for retailers, and our Sustainability
Land Securities doesn’t have to play
Guide for retailers, respond to specific challenges faced by
‘catch-up’. CR has been on our agenda our customers.
for a long time and we continue to
take strides in helping our customers to The approach we take isn’t always the easiest one either.
reduce costs, trade through the tough For example, we could simply fund low-carbon projects
in other parts of the world to offset the carbon emissions
times and achieve their own CR goals.” of our centres, but we made a business decision to use
the money to fund new environmental initiatives at those
very sites. It was a great success in both improving our
sustainability performance and in galvanising our team
Retail at a glance to look at what they do and how they can do it better at
our properties.
£4.27 billion Value of Retail business
The communities around our shopping centres are based
26 Shopping centres are where we can continue to make the biggest difference,
by creating employment, driving regeneration and
supporting training education and local charities. Across
20 Retail parks our portfolio, we are placing our centres at the heart of
the community and in delivering our new 10-year
objectives, we will be developing this activity further in
4 Designer outlet centres the years ahead.
1,600 Retail occupiers
260 million Shopper visits every year Richard Akers
Managing Director, Retail Portfolio
1.6 million m2 Area of retail space
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7 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Letter from London is a challenging market and CR remains at
the heart of all our activity, whether we are working on
Robert Noel – regeneration projects and engaging with the communities
around us, advising occupiers to how to use energy more
Managing efficiently or helping to fill skills gaps in the construction,
retail and planning sectors.
Director, but it’s not just about managing issues and moving on.
London We take a longer-term approach to CR, as reflected in
the endowment funds, a new collaborative approach to
Portfolio supporting charitable and community goals. These will
help to finance community groups and good causes in
Westminster and Kent for many years to come.
CR is a growing factor in the decisions
we make and increasingly critical for We also use what we learn along the way to develop
businesses in the capital. So as we innovative solutions for our own actitivies. For example,
our trial of Display Energy Certificates for all our London
set about forging London’s future,
offices demonstrates that we’re always prepared to take
we are confident that our non-stop the lead. And at One New Change, we’ve used borehole
approach to CR will play a significant technology after refining its operation using knowledge
role in maintaining our position as the gained from two other sites.
business people want to do business
Even outside our own business, we are conscious that
with in London.” the sector needs to stay up to date with CR issues. Our
people share their knowledge and expertise with working
groups such as The better buildings Partnership to drive
change through green leases and retrofit strategies, and the
beOnsite initiative, which has been offering skills training
and employment opportunities to local people at our One
New Change development. Employment initiatives such
London at a glance as this are being developed on other construction projects
£5.27 billion under the National Skills Academy for Construction
programme. We also started the UCL planning graduate
Value of London business
programme because we recognised a lack of young
planners coming through.
500 Property occupiers
We may not always be able to assess whether CR translates
into higher rents or more profit for the Group, but it is a
50,000 growing factor in the decisions we make and increasingly
Workers in offices we own and manage critical for businesses in the capital. So as we set about forging
London’s future, we are confident that our non-stop approach
0.8 million m2 to CR will play a significant role in maintaining our position as
the business people want to do business with in London.
Area of London office and retail space
Robert Noel
100,000 m 2 Managing Director,
London Portfolio
Currently under development
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8 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our stakeholders
We seek to address the most important
issues that affect our business and that are
of most relevance to our many stakeholders
within and beyond our business. Below, we
summarise how we engage with them to better
understand their views.
As part of our commitment to gaining greater
understanding of our stakeholders’ views and priorities, we
will be establishing a stakeholder panel in 2010. This will
help us to improve two-way dialogue and gather a range of
opinions on our targets, performance and reporting.
Our people
Our interests and expectations Interaction in 2009/10
Our people are the key to our success and we believe • Engaged employees in the development and delivery of new
the more we invest in them, the better it is for our Group vision
business. This means ensuring a culture in which they • Conducted annual formal Employee Engagement survey
help each other to harness their potential and achieve • Held quarterly ‘Exchange Forum’ meetings where elected
exceptional performance. representatives from around the business discussed key issues and
business decisions with the Senior Management Board; the last
meeting was held in January 2010
• Held quarterly lunches with the Senior Management Board at which
all employees were eligible to attend
• Held formal business updates from senior management twice a year
• Undertook wide consultation on the design and implementation of
a new intranet
Our customers (retailers and occupiers)
Our interests and expectations Interaction in 2009/10
Through the knowledge gained from our strong • Provided every customer with a day-to-day contact
partnerships with our customers, we help them to find new • Conducted annual customer satisfaction surveys among shopping
ways to make their own businesses more successful. centre and office customers
• Ran quarterly occupier review meetings in our shopping centres
• Liaised regularly with occupiers in our London Portfolio
• Attended industry conferences
Our suppliers and service partners
Our interests and expectations Interaction in 2009/10
We want to be the partner of choice, so we need to act • Held operational meetings and collaborative discussions with supply
with fairness, honesty and integrity at all times. chain partners
• Maintained direct contact with principal trade contractors, and
aimed to discuss key issues regularly
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9 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our investors
Our interests and expectations Interaction in 2009/10
Our investors seek competitive returns and assurance that • Followed a structured programme of presentations and meetings
their investments lie with a sustainable, well-governed • Attended investor conferences in the UK and internationally,
business. We believe that good relations with investors allowing major investors to meet our management team face
are built on meaningful and transparent reporting and to face
conforming to the highest FTSE standards. • Communicated with shareholders through our Annual General
Meeting, our relationship with the UK Shareholders Association and
our Investor Relations website
• Conducted a formal investor survey (conducted every two years)
Our communities
Our interests and expectations Interaction in 2009/10
We want to be a good neighbour by investing in • Ran active engagement programmes in local communities for all
employment, education and enterprise opportunities to major assets
create sustainable local communities. • Encouraged enduring partnerships with local residents, community
groups, businesses and local government
• Supported employee volunteering, awarded bursaries and managed
our Give As You Earn scheme to encourage charitable donations
through ‘The Foundation’
• Liaised regularly with local councils about key development projects
Government, regulators and non-governmental organisations (NGOs)
Our interests and expectations Interaction in 2009/10
Constructive relations with government, regulators and • Participated actively in industry-wide bodies such as the British
NGOs are vital to our success. Beyond legal and operating Property Federation (BPF), the British Council for Offices (BCO),
standards, we must also demonstrate astute judgement, set the British Council for Shopping Centres (BCSC), Better Buildings
industry benchmarks and provide innovative thinking if we Partnership, London First and the Green Building Council
are to remain trusted advisors. • Sat on several advisory bodies
• Reported key environmental targets on our website
• Participated in property consultations and conferences
• Participated in regional (London) and Local Government Policy
consultations
Our consumers (general public)
Our interests and expectations Interaction in 2009/10
We have a long history of owning and developing • Engaged with visitors through our day-to-day operations
properties that are used by the general public. We believe • Provided customer service desks in our shopping centres
that they want our properties to be accessible, safe, clean • Offered feedback facilities on our websites
and environmentally sustainable. • Conducted surveys with visitors to our key properties
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10 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Governance CR Committee members 2009/2010
• Chief Executive and board Representative:
Francis Salway
The management of, and accountability for, the • Group hR Director and Chair of the CR Committee:
environmental, social and economic aspects Angela Williams
of our business require sound governance
Customers, Suppliers and Community
practices. At Land Securities, our arrangements • head of Asset & Property Management, London
include a CR Committee with representatives Portfolio: Jonathan Evans
drawn from across the Group and a network of • head of Retail Property Management: Nick Peel
employee ‘CR Champions’. Sustainability and Environment
• head of Sustainability and Engineering: Neil Pennell
The CR Committee • Environmental Director: Dave Farebrother
The Committee’s 12 members meet four times a year
to agree policies, review progress against targets and set Financial Sustainability
future objectives. The Committee reports to the Senior • head of Tax, Treasury and Insurance: Martin Wood
Management board and in 2009/10, it was chaired by
Angela Williams, Group hR Director. health and Safety
• head of health and Safety (Retail Portfolio):
Working with experts from around the business and our Kurt Coelho
CR Champions (see below), the Committee is directly • Director health and Safety (London Portfolio/Group
responsible for defining our CR strategy and activities, Services): Dave Stephenson
and monitoring our performance and ensuring the Group
delivers on its CR targets. It also ensures that: CR Champions
• our CR programme is aligned with our business objectives Although robust governance processes are needed, CR is
• our CR activities are understood and promoted, both not something that can be achieved by committees alone;
internally to employees and externally to other it needs the drive and commitment of everyone throughout
relevant audiences the business.
• we act on the best practice advice we are given by our
external CR advisors. To provide that all-important link between our CR
Committee and the rest of the company, we have a network
Risk management of CR Champions. These employees play a key role in
The Risk Management and Internal Audit team ensures communicating our ‘Making a difference’ vision and
the risks we face as a business are identified and managed helping us to embed CR across the Group.
through effective processes and controls. The Director of
Risk Management and Internal Audit reports to the Chief Meeting on a quarterly basis, the CR Champions act
Executive and the Audit Committee. as points of contact for all departments, ensuring the
whole business shares ideas, identifies opportunities and
For more about risk management and our general governance takes a joined-up approach to CR. They also record all
arrangements, please see our Annual Report and Accounts. our community activities on the Community Investment
Database, a valuable source of benchmark information.
For more information on LandSecurities.com
• Annual Report and Accounts
(www.landsecurities.com/annualreport2010)
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11 About us
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our environment We always think we can do more, so our approach is
based on continual improvement, using the sum of our
knowledge and expertise to meet the highest standards and
As the UK’s largest commercial set ourselves more challenging goals. Ultimately, however,
we intend to be part of the solution, not the problem, and
property company, we are very aim to go beyond simply minimising the damage wherever
we can.
aware that every property we own
or manage impacts on the world We are developing new ways to improve the environmental
performance of our buildings, from inspirational thinking
around us. But we also recognise in architecture and design through to utilising the latest
technology. We also use our expertise to drive the industry’s
that we create a more sustainable responses on energy reduction, sustainable construction
built environment by reducing their and behavioural change, and work closely with our
tenants so that they too can respond to the challenges and
negative impacts. opportunities posed by environmental issues.
Our Corporate Environment Group, chaired by Robert
Noel, Managing Director, London Portfolio, is responsible
onment Our environment for setting environmental policies, objectives and targets,
icons Non-stop icons and for the environmental strategy that underpins them.
Our Environmental Management System (EMS), certified
to the international standard ISO 14001, has been designed
to assure we are able to respond to the environmental
priorities facing our business.
LOOKING FORWARD
We will continue to:
• encourage behavioural change in our occupiers and employees
• drive technology and innovation
Our 10-year environmental
• measure and manage our use of resources to drive
improvements and set new benchmarks
objective is to reduce carbon • work with Government to improve the legislation in this area.
emissions by 30% by 2020.
For more information please go to
• Executive statement: Robert Noel (page 8)
• Performance data (page 49)
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12 Our environment
le 4 Flora 1 Recycle 2 Low emission buildings emissionEnergy efficient
2 Low 3 buildings 3 En
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Energy and emissions our London Portfolio and a 30% fall in our Retail energy
consumption. The London Portfolio figures for 2008/09
saw a significant increase that went against the long-term
As a business with a property portfolio reduction trend. Further analysis shows this was due to
covering 2.4 million square metres, we have several large sites being developed or acquired where
occupiers required 24/7 operations and, in some cases,
a significant opportunity to help to achieve energy-intensive dealer floors.
the UK’s Government target of cutting carbon
Although this makes our task significantly more difficult, we
emissions by 80% by 2050. We recognise still believe it is right to retain occupier energy use within
the threat posed by global climate change our overall targets. having set ourselves a 30% reduction
and make every effort to work with our target by 2020, it is even more important for us to engage
with our occupiers and expand our roll-out of green
tenants, and others in the sector, to improve leasing, using voluntary Memoranda of Understanding.
energy efficiency and reduce greenhouse We are encouraged that over the last 12 months, with
no significant changes to our London Portfolio, we have
gas emissions. We believe that our Corporate
reduced the average level of CO2 emissions by 3.6%, so we
Responsibility extends to a lifelong stewardship remain confident of meeting our 10-year objective.
of the properties under our management.
Case study
Reducing our impacts at our hQ
The challenge
Every hour of every day, people are using energy in our buildings
– from retailers’ window displays to office air conditioning –
over which we have limited control. Our occupiers are directly
responsible for many of the impacts of the buildings they occupy
so the challenge for us remains in helping to educate them on
how changes in their own behaviour can reduce impacts. We
also need to focus our attention where it can make the biggest
difference. Modern design and technology can help us with
new buildings but in any one year, no more than 2% of the
national stock is likely to be replaced. The truth is that the bulk The refurbishment of our headquarters at 5 Strand provides us with
of the nation’s property is made up of old, energy-inefficient a good opportunity to significantly reduce our carbon footprint. The
properties, and it’s these we need to focus our efforts on. measures we have taken include:
• replacing two chillers with more efficient, modern machines
• refurbishing the three lifts with motors that use 75% less energy
Reducing our impacts
• fitting ‘voltage optimisers’ on electrical supplies
Our energy and carbon targets have always included the • installing a new lighting system, with motion sensors in all meeting
energy used in our buildings by our occupiers, which leaves rooms that turn lights off when the rooms are not occupied, and
us open to variations in energy use over which we have perimeter lights that turn off automatically in daylight.
little or no direct control. One of our key environmental
targets is to reduce the emissions associated with energy We are also using 5 Strand to trial a real-time energy monitoring
system, displaying up-to-the-minute meter readings alongside daily
use in managed office and retail premises by 10% by 2010, and monthly trends on a plasma screen in reception. Similar screens
compared to a 2007 baseline. During 2009/10, our overall have been installed in two properties at New Street Square and we
energy use increased by 12.6% to 230 million kWh; this plan to roll the approach out more widely across our London offices.
was the result of a 35.4% increase in energy use across
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13 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Last year, relative CO2 emissions fell in both our Retail (by Helping others to make a difference
15.3%) and London (by 3.6%) portfolios but company-wide To remain the leader in our sector, we design new offices
emissions rose by 11.3% to 66.9 kg of CO2 per m2. This and the common parts of retail schemes that are 20%
year, we have set ourselves a challenging 10-year target to below the building Regulation requirements for CO2
reduce our carbon emissions by 30% by 2020. To work emissions. In 2009, we completed St David’s 2 in Cardiff,
towards this, we have also been one of the pioneers of using which fell well within the guidelines, and our carbon
energy piles for heating and cooling to create renewable reduction programme for shopping centres won a ‘Green
energy sources, and in November 2009, we announced our Oscar’ at the ninth annual Sustainable City Awards in
intention to introduce Display Energy Certificates across February 2010.
our London office portfolio.
We also raise awareness and educate others on
Case study sustainability and environmental issues. During 2009, we
piloted a CR communications campaign in five offices and
Display Energy Certificates
seven shopping centres, providing tenants and customers
with advice on a range of issues, including energy savings
and sustainability.
A degree of common sense
In November 2009, we began auditing all our managed London offices
and prominently displaying how much energy each property is using in
the building’s public area. These Display Energy Certificates go beyond
current legislative requirements and mean that instead of certifying
the energy our London offices are designed to consume, we will show
actual energy consumption – a much more meaningful measure.
Did you know... that 500 employees at our London headquarters
We recognise that some of our buildings will score poorly at first, will be testing the environmental benefits of allowing an extra 1°C of
such as our own headquarters, which emerged with a ‘G’ rating. Sadly, variance in internal temperatures? The trial, starting in June 2010, will
this is fairly typical of a commercial property in central London, yet it make the building slightly warmer in summer and slightly colder in the
shows what scope there is for improvement across our portfolio. winter, yet could reduce energy consumption by 10%.
View the report online at
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14 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Leading light Leading the sector’s response
We are willing to take the lead and galvanise others into
action on the big issues, having been the first company in
the property sector to gain both the ISO 14001 standard
for environmental management and the Carbon Trust
Standard for managing energy. Since then, we have become
signatories to both the 10:10 Campaign and the Prince’s
May Day Network.
In London, we are working with other property companies
and the London Development Association, through the
Did you know... that at 8.30pm on Saturday 27 March 2010, the better building Partnership (bbP), to develop industry
advertising screens of the iconic Piccadilly Lights, 14 of our shopping best practice for reducing carbon emissions in the
centres and all our London offices were plunged into darkness for 60 operation of buildings. This includes initiatives on
minutes? By joining in WWF’s Earth Hour, a global climate change
green leases, performance benchmarking and sustainable
event involving 1 billion people in 5,000 cities, we saved almost two
tonnes of CO2 emissions. retrofit strategies.
And in November 2009, we called on others in the sector
Retail Carbon Project to help to combat the estimated 18% of UK emissions
Rather than investing in overseas projects to offset the attributable to commercial property. In a speech to the
emissions from the common areas of our shopping centres, construction industry, Chief Executive Francis Salway
the money is used to lower their carbon footprint instead, outlined the need for:
through suggestions made by the centres themselves.
The £147,000 it would have cost to offset the 18,374 • significant behavioural change by both companies and
tonnes of CO2 emissions produced in 2009/10 is being tenants, such as accepting a one-degree reduction in internal
used, pro rata, to improve energy efficiency and cut temperatures to reduce energy consumption by 10%
utility bills through schemes ranging from new lighting to • technological innovations that enable the construction
rainwater harvesting. of new buildings with lower carbon emissions
• strong government policy and leadership to
stimulate the renewal of older buildings, using the rates
system to reward or penalise occupants according to the
energy efficiency of their buildings.
For more information please go to
• Waste and resources (page 16)
• Environmental data: Energy use (page 49)
• Environmental data: CO2 emissions (page 49)
• Environmental data: Company business mileage (page 50)
View the report online at
www.landsecurities.com/crreport10
15 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Waste and resources Laying rubbish to waste
As a company committed to addressing
our impact on the local environment, we
have a well-established waste management
framework that guides our approach to
eliminating, reducing and reusing waste
rather than sending it to landfill. We are also
committed to using resources efficiently, and Did you know... that the Willow Place shopping centre in Corby went
sourcing the materials we need sustainably. through 2009 without sending a single piece of waste to landfill? Any
item of waste, from coat hangers and cans to wood and plastic, that
couldn’t be recycled or reused was sent to a local incinerator and the
The challenge
ash converted into charcoal.
Consider for a moment all the cardboard boxes retailers have We also diverted an increasing amount of waste arising
delivered, the food waste caterers have to dispose of, the reams from our head office premises, managed London offices and
of paper offices get through and the lights that get left on. Our shopping centres. At our headquarters, for example, we:
challenge is to work with our occupiers and help them to reduce
• stopped using disposable plastic cutlery and replaced
waste in ways that don’t cost them anything or take up more of
their employees’ time.
paper cups with china mugs
• encouraged online publications rather than
printed materials, and set printers to default to
Waste management double-sided printing
Our waste management strategy is aligned with UK • encouraged suppliers to minimise or take back packaging
Government targets for halving construction waste • set up communal recycling points for plastics, metal,
to landfill by 2012, and reusing or recycling 90% of paper and card, glass and food waste
excavation, demolition and construction waste by 2010.
Our approach involves creating less waste, recycling more • collected and donated unwanted spectacles, magazines,
of the waste we do generate and re-using and repurposing books and toiletries to local charities
the waste that can’t be recycled. • reused, donated or recycled unwanted furniture.
During the year, the waste we sent to landfill reduced by Although we set minimum targets, as shown below, our
67% to 5,435 tonnes, and we either reused or recycled overall aim is ‘zero waste to landfill’. Taking this approach
79.4% (by weight) of our operational waste, compared with our London occupiers won a ‘Green Oscar’ at the
to 51.7% last year. We implement our strategy through Sustainable City Awards in February 2010, while five
individual Site Waste Management Plans. These are not shopping centres also achieved zero waste to landfill:
just about reusing and recycling materials, but also show Gunwharf Quays in Portsmouth; Willow Place in Corby;
how waste has been minimised during the design stages Leeds Shopping Plaza; White Rose Centre in Leeds; and
of a project. the Lewisham Shopping Centre in London.
84%
Waste diverted from landfill
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16 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Each centre that achieved zero waste Case study
to landfill has worked with local waste Green sweep at the Oscars
contractors to find out how different
materials can be recycled locally –
anything that cannot be reused or
recycled is sent to an energy recovery
facility where the waste undergoes
combustion to produce electricity.”
Sarah Beattie, Environment Manager
Waste diverted from landfill Land Securities celebrated a hat-trick of awards at the ninth annual
Sustainable City Awards held in London in February 2010. Presented
Waste diverted Minimum target by the Corporation of London, these national awards, known as the
Head offices 100% 95% ‘Green Oscars’, recognise and reward UK organisations for outstanding
achievement and innovation across all aspects of sustainability.
Managed London offices 98.8% 90%
Shopping centres 67% 55% Land Securities won two of the 11 categories – ‘Tackling Climate
Change’ for our voluntary carbon reduction programme in our
shopping centres and ‘Responsible Waste Management’ for our new
‘zero waste to landfill’ policy for London occupiers – and we were also
Let’s make it clear shortlisted in the ‘Resource Conservation’ category. Land Securities
also claimed the Sustain Magazine Leadership In Sustainability Award.
“Advances in technology alongside simple changes in behaviour can
achieve some of the strongest results. In this case, we diverted some
4,639 tonnes of rubbish from landfill and achieved estimated annual
savings of £100,000 from reduced energy and water usage. These
awards recognise that good environmental practices make good
business sense.”
Dave Farebrother, Environmental Director, Land Securities
Did you know... that through our new Clearlet initiative, which
simplifies the leasing process and documentation for retailers, we
are trialling ‘green lease’ clauses in six stores. We also signed green
Memoranda of Understanding with occupiers in two London offices in
September 2009, so we can reduce the environmental impacts of each
building. We hope to roll this out across our London Portfolio.
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17 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Resource use Water use
In all our new developments, we aim to achieve a minimum We recognise that water consumption is a growing issue of
level of 20% recycled content by value. In the only development importance for our business, and have set a target to reduce
project we undertook in 2009/10, One New Change, 84.4% of the average consumption of water across our London
the construction waste was diverted from landfill. portfolio by 5%, compared to our 2009/10 benchmark. In
2009/10, we used 0.63m3 of water per square metre per
For us, a bREEAM rating of “Very Good” is a minimum year, which equates to a 22.5% reduction from 2008/09.
for every project, but we like to push the boundaries however, we recognise that this has been largely achieved
whenever we can. We use sustainably sourced, low- because of empty buildings and a general reduction in
impact materials, such as timber from sustainable sources occupier workforces, so our 10-year reduction target will be
certified by the Forest Stewardship Council (FSC), and normalised against portfolio occupancy rates.
seek to achieve certification under the FSC’s project-
specific methodology for every new development. We also Rain check
collect rainwater for reuse at Dashwood house, White
Rose, Cabot Circus and Livingston: The Centre. In 2009,
our development at St David’s in Cardiff achieved an
“Excellent” bREEAM rating.
Swap shop
Did you know... that in 2009/10, our Environment team undertook a
rainwater harvesting project with University College London (UCL)?
The students gathered data from our buildings, met with our project
managers and developed a tool that will help us to assess the viability
and size of future rainwater collection schemes.
We have also agreed to work with a UCL PhD student, who will
Did you know... that through our ‘One man’s trash’ scheme, research the effects and acceptability of behavioural changes on
head office waste products such as cardboard boxes (for moves), building energy performance.
newspapers (for pets’ litter trays) and yoghurt pots (for growing
seedlings) are made available for staff to take? In April and May 2010,
we also trialled ‘Swap ‘til you Drop’, through which unwanted clothes,
CDs and books were exchanged.
For more information please go to
• Energy and emissions (page 13)
• Environmental data: Waste management (page 50)
• Environmental data: Water use (page 51)
View the report online at
www.landsecurities.com/crreport10
18 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Design and innovation Better by design
Every year, we aim to drive performance improvements by
operating equipment at optimum levels and by reducing
Before any new property is built or an existing waste. but to meet ever-tougher targets, we need to work
one refurbished, we focus our expertise closely with our occupiers, helping them to reduce their
own environmental impacts. Due to their number, our
and experience on adhering to the highest older offices present us with the best opportunity to make
standards of environmental sustainability, as a difference.
well as creating a space that has the flexibility In any one year, no more than 2%
to meet the changing needs of customers. of the national stock is likely to be
renewed – leaving 98% existing,
mainly energy-inefficient buildings...
The challenge targets for carbon emission reductions
At the moment, there isn’t a premium paid by occupiers for will therefore not be met unless
having a ‘green’ building. The challenge for us is to consider progress is made on the existing
the full life of all our buildings and provide solutions that don’t building stock.”
impact the affordability of property.
Francis Salway, Chief Executive,
Land Securities
Many of our occupiers don’t have the environmental
expertise to get the best from their building – but we do.
We share our knowledge with our tenants, by:
• offering them free energy audits
• ensuring every property we manage has its own
environmental management plan
• giving our retail occupiers a low-carbon fit-out guide,
outlining measures that can be adopted during the
shop-fitting stage that will reduce running costs and
carbon emissions
• raising awareness through our shopping centre Consumer
Awareness Environmental Programme
• providing a bREEAM advice and certification process, to
ensure all new major developments receive a rating of at
least “Very Good”.
For every project and property we manage, we also develop
site-specific Environmental Compliance Registers, which
form the basis of an ongoing audit programme, and all
our residential schemes are designed to meet the Level 3
rating of the Code for Sustainable homes. This is a six-level
accreditation system for domestic property, similar to the
bREEAM system for commercial buildings. Level 3 will
ensure responsibly sourced materials, good levels of insulation
and daylight, and energy-efficient plant and equipment.
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19 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Raising the bar Green day
Although we hope we set new standards for building
sustainability into the fabric of our developments, it is
always reassuring when they receive recognition for their
environmental credentials from outside the business.
For example, Cabot Circus – developed through the
bristol Alliance, our joint venture with hammerson – was
named the Overall Green Development of the Year 2009
at the Estates Gazette Green Awards and in New Street
Square, a vibrant mix of office space, shops and restaurants
in the City of London, we addressed environmental Did you know... that our 2009 corporate Environment Day at Kew
considerations in the demolition and construction stages. Gardens drew more than 170 clients, contractors, suppliers, employees
We were also applauded by occupiers for the installation of and other stakeholders, and looked at the impact of sustainability
a green wall, public art and other environment-enhancing on property design and management? Supporting events were also
staged in our shopping centres, giving us the opportunity to share the
initiatives, and our efforts were rewarded with the 2009 sustainability message with the public.
New City Architecture Award and a commendation in the
‘Major Project of the Year’ category at the 2009 building
and Construction Industry Awards.
For more information please go to
• Waste and resources (page 16)
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20 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Planning, land use and Planning
Acquiring planning consent can be a long process, and
biodiversity often takes several years. And different stakeholder groups
– residents, retailers, councils and organisations such as
English heritage and CAbE – can have conflicting views
The planning process is often long and on what is needed or indeed, whether anything is needed
complicated, so we collaborate with at all. Regular communication usually results in a design
that enhances its surroundings, so we keep all relevant
many different stakeholders to ensure our stakeholders informed of our plans and activities.
developments enhance their surroundings.
Land use and biodiversity
When we plan a new development, we are well aware of
our impact on the environment and the people who live
The challenge in the area. We therefore keep all relevant stakeholders
informed of our plans and activities, and commission
Our development sites are often in areas of historical or cultural formal environmental impact assessments (EIAs) on projects
importance, and land is an increasingly scare and costly resource, of a certain size or type, such as our large commercial
especially in London, all of which presents unusual – even unique schemes. These assessments identify and mitigate any
– circumstances that we need to address. Managing the different negative environmental impacts at all stages of a project,
facets of planning applications requires specialist knowledge from choosing the site through to the operation of the
but we recognise a lack of young planners coming through. We finished premises. Many of our London office schemes
therefore support the development of the necessary academic fall below the size threshold that triggers a statutory EIA
and professional skills through our UCL graduate programme. but all our schemes over £5 million are subjected to a
voluntary EIA.
We evaluate the existing natural conditions of the site
before commencing any development scheme and ensure
that the project improves the quality of the habitat and the
local biodiversity.
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21 Our environment
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our people We aim not just to be a good employer, but the employer
of choice in the property industry. To achieve this, we need
to have the right people with the right skills, values and
We think people make the objectives. Our commitment is reflected in our corporate-
level key performance indicator (KPI) for the attraction,
difference, even in a business retention and motivation of high-performance people.
In practice, this involves providing support, learning,
based on bricks and mortar. Our training and structured career development plans to ensure
employees’ dedication and expertise everyone in the business can reach their full potential.
are key to our business success, and being the employer of choice in our sector is also about
recognising individual contributions and rewarding
the more we invest in them and a exceptional performance. For example, our People into
working environment in which they Action programme acknowledges employees who bring
our values to life in their day-to-day work or in
can thrive, the better the results. exceptional circumstances.
We also foster a culture that respects people’s differences
and values their ideas, and regularly engage with our
people to seek their views and address their concerns.
We do this company-wide through our annual Employee
Our people Engagement Survey, while representatives from around the
Non-stop icons business can talk about the big issues with senior executives
at quarterly Exchange Forum meetings.
LOOKING FORWARD
We will continue to:
• retain and build upon our Investors in People (IIP) accreditation
• retain a position of leadership to attract and retain the
best people
• maintain a presence outside of traditional property to attract
Our 10-year environmental a skilled workforce
objective is to be recognised
• exceed expectations about what an employer provides in
regard to reward and development.
in the UK as an employer of
choice for developing people
to be the best that they can be.
For more information please go to
• Performance data (page 49)
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22 Our people
1 Diversity 2 Engagement 3 People into
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Engagement and One of the most significant increases of any score was the
confidence people have that we will meet our objectives –
recognition up 22% to 89%. In addition:
• nearly 80% of people have had at least two performance
Communication is an integral part of what reviews in the last year
we do and we dedicate resources to effective • 86% have learning and development plans in place
• 86% have undertaken voluntary work in the community,
engagement with our people. We listen to up from 51% last year.
our employees, respond to their feedback and
communicate the actions we have taken. We It has undoubtedly been a tough trading year, so naturally
how people feel about salaries and bonuses, and career
also ensure that those who live our values and development, have lower scores. however, using such
deliver exceptional performance are recognised feedback, we will look at how we can make salary, benefits
and bonuses as favourable as possible, and give our people
and rewarded. greater exposure to different parts of the business to aid
career development.
The challenge
Survey hits the mark
We have always competed for talent but increasingly, we
need to use different methods of communication to attract
potential recruits, and to keep employees informed our our
plans and achievements. More and more, our employees want
to be actively involved in the decision-making and goal-setting
processes of our business, and be offered a challenging and
rewarding career path – and we need to respond accordingly.
Employee engagement
To give employees a regular opportunity to comment on a Did you know... that our overall level of employee engagement,
as demonstrated through the Employee Engagement Survey, out-
variety of business issues, we conduct a formal Employee performed the benchmark set by HR consultants Expert Training
Engagement Survey every year. The topics covered range Systems (ETS)? We scored 3.10 overall while the ETS benchmark was
from our performance to training and development, and set at 3.08. Any score of 3.0 or higher is classified as ‘excellent’.
from employees’ understanding of our corporate objectives
to their immediate team. The results allow us to measure
how closely their views align with our vision and values,
and form part of our corporate KPIs.
This year saw the highest scores in our annual Employee
Engagement Survey. Around 79% of our employees
responded, and their feedback suggests we are making
progress. Two of the top scores recorded were how proud
people feel to be a part of Land Securities (96%) and
achieve their understanding of what the Group is trying to
79%
Employee response rate to annual survey
achieve in the current financial year (86%).
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23 Our people
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Other communication channels Case study
Employee opinions can also be aired through more
frequent channels, such as our Exchange Forum meetings. Shaping the future
Twelve elected representatives from across the business
sit on the Forum, and meet with the senior management
team quarterly to discuss key business issues and consult
on decisions that affect employees. During 2009/10,
the topics discussed ranged from the introduction of a
holiday purchase scheme to virtual desktops with the IT
department and changes to catering facilities at head office.
Since our last survey in November 2009, we have
implemented ‘TeamTalk’, a new management cascade
briefing to explain the relevance of corporate results and Our vision – ‘Shaping the future of property’ – was developed through
announcements to each department across the Group. This consultation and workshops with over 120 employees from around
initiative was formulated in consultation with members the Group during 2009 and launched at our annual Management
of the Exchange Forum and senior management in direct Conference in October 2009. It highlights our intention to lead in
everything we do and to set the standards for tomorrow.
response to employee feedback.
We have developed a vision microsite where employees can view
To gauge employee satisfaction and help us to improve the and download a range of information about our vision, and how we
information we receive from employees, we also: reached a consensus. This includes:
• photographs taken during the workshops
• host quarterly lunches with Senior Directors at which all
• the ‘visual’ minutes that were produced at the workshops
employees can attend • the final visuals of the themes and the vision
• hold formal business Update presentations twice a year • all the presentations
in our offices for people to meet and hear from senior • the final vision booklet.
management on the company’s performance
• launched an improved intranet site dedicated to keeping
people informed of our business’ performance, progress Recognising excellence
and plans. Every day, around our business, people are not only getting
on with the job, but adding something extra. We rely on
Our efforts to maintain a supportive and open working such people – the sort of people who care what impact
environment have been recognised with the Investors their behaviour has on others and who try to do things
in People (IIP) accreditation, which we have held for that little bit better – and acknowledge their achievements
three years. IIP is a national standard that measures how through our People into Action awards programme.
effectively employees are developed to deliver business
results. In October 2009, we achieved reaccreditation We have created a website (www.peopleintoaction.com)
and developed action plans to address two key areas for to promote the awards scheme – based on demonstrating
improvement: the planning and evaluation of learning our core values of integrity, respect for the individual,
and development, and the capabilities expected of our customer service, excellence and innovation together with
managerial staff. Environment and CR categories – in an informative and
fun way. We hope it will inspire others to adopt the sort of
entrepreneurial behaviour shown by our recent winners,
and encourage employees and managers to nominate their
colleagues for future awards.
View the report online at
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24 Our people
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Case study Case study
People into Action award winners Daniel Pickard, People into Action ‘Corporate
Responsibility’ award winner
January 2010 saw some extraordinary people stepping into the spotlight at Daniel Pickard, the Centre Director at Corby shopping centre, has
the People into Action awards reception and dinner. supported a police-led campaign to encourage local youths not
• Respect for the individual – Lloyd Wright, Centre Manager, Fremlin to commit anti-social behaviour. Starting 18 months ago, Daniel
Walk: Lloyd instigated English language courses for cleaning and security embarked on the project with Groundworks North Northants and
staff, run in association with the local education service. The four staff Northamptonshire Police, working at night alongside youth workers to
who attended classes and passed examinations are now more confident steer teenagers away from public nuisance, criminal damage, alcohol
and able to offer a higher level of customer service. and drugs.
• Excellence – Tracy Bottomley, Centre Administrator, Corby shopping
centre: When Centre management was given eight days’ notice to His colleagues in the Corby anti-social behaviour team have since won
terminate the market in the town centre, Tracy took over. Despite no the ‘Ongoing Contribution’ category of the People into Action awards,
previous experience, she ran the market, drew up licences and collected having opened a temporary shop for the youths to run. Through the
rent from traders without losing a single day’s trading. Rent has risen ten- project, they learn how a shop works and also about the effect their
fold to over £70,000 a year. behaviour can have on local shops and other businesses. Prior to
• Customer service – Mark Streatfield, Residential Managing Agent, opening the shop, the youths were trained in basic stock control, cash
Chartsedge: Mark liaises with incoming owner-occupiers of the 123 handling, merchandising and customer service, and helped out with the
residential apartments at Princesshay in Exeter, ensuring that each shop-fitting and decorating.
apartment is handed over to our sales agents in a marketable condition.
Mark has dealt with floods, boiler failures and suspected gas leaks, yet As a result of this ongoing project, anti-social crime in Corby town
remained calm and approachable. Cielo Cadona received a special award centre fell by 47% in the first year, and has fallen a further 13% during
for her extraordinary efforts to keep Harbour Exchange Square open and 2010. A number of the youths involved in running the shop have also
accessible during London’s snow storms. declared an interest in retail and sales careers. The success of this multi-
• Integrity – Steve Hall, Security Officer, Ultimate: In October, while on agency scheme was also recognised by the Home Office Tilley awards,
patrol, Steve received a call about a woman on the estate who had her bag progressing through to the national finals after winning the Midland
stolen. Steve allowed her to use his mobile phone to cancel her bank cards regional stage of the competition. Dan was also presented with an
and gave her £50 of his own money to enable her to get the train home. award by Groundworks UK and the Police in recognition of his positive
• Innovation – Peter Cook, Centre Director, White Rose: To provide a and influential work with the youths of Corby.
consistently high standard of customer service, all staff have received ‘On
Brand’ training and are updated on all aspects of the centre’s activities Daniel is keen for his colleagues to get involved in the People into Action
through a new Knowledge Hub. The scheme is now being considered for awards. “Colleagues should get involved because Land Securities cares
wider application across the company. about its people and does take notice of the good work we do. Every
• Team – Finance Team: In addition to their normal roles, the team led day, people go ‘above and beyond’, but many of them are too modest.
by Neil Eady was recognised for their hard work behind the scenes on a We need to shout about our achievements.”
number of big corporate projects.
• Environment – Dave Downes and Phil Gantschuk, White Rose: By
devising, designing and implementing a rainwater harvesting system, they
salvaged, at no cost, an unwanted 3,000-litre tank from a retailer and For more information please go to
designed a gravity-fed supply of water, saving 55,000 gallons per year.
• Corporate Responsibility – Daniel Pickard, Centre Director, Corby: Dan • Health, safety and wellbeing (page 26)
has a police-supported campaign that has helped to reduce anti-social • Giving time and money (page 45)
crime by 40% (see separate case study right).
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25 Our people
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
health, safety and Through adherence to such systems and processes, we
scored 8.0 and were placed 26th in the health & Safety
wellbeing Executive’s Corporate health and Safety Performance
Index (ChaSPI) in 2010. We will continue to benchmark
our performance against the other UK companies in the
Land Securities is committed to providing a Index, and seek to achieve a position within the top 10%.
safe and healthy working environment for all
To remind all employees of the importance of identifying
employees. In line with all relevant legislation, and managing risks at work, we have held a health and
we also take all reasonable measures to secure safety week, and run e-learning courses on Personal
the safety and wellbeing of contractors, service health and Safety for all employees and Managing health
and Safety for line managers. Since we began reporting
partners, occupiers and members of the public on health and safety, we have won five Gold Awards for
who may visit our buildings or be materially occupational health and safety from the Royal Society for
the Prevention of Accidents (RoSPA).
affected by our activities.
The quay to success
The challenge
Health and safety is critical on our construction sites as much
as it is in all our properties with public access, but our challenge
is to make it as relevant to all aspects of our business and to all
stakeholders. We drive through continual improvement because
we want to be a business others can always rely on. It is not just
about legal compliance.
Health and safety management Did you know... that our Group risk management system has been
health and safety teams in each of our London and scrutinised via Gunwharf Quays in Portsmouth and the Bridges
shopping centre in Sunderland, where both sites hold the national
Retail Portfolios are responsible for providing best practice health and safety accreditation BS OHSAS 18001:2007? Gunwharf
guidance for our business throughout the UK. The Quays also won a Gold award at the RoSPA Occupational Health and
teams also undertake property health checks to monitor Safety Awards in 2010, in recognition of rigorous occupational health
compliance both with our own procedures and our and safety management systems, and a reduction in accidents and ill
statutory obligations, and provide specialist knowledge on health at work.
issues such as asbestos, fire safety and accessibility issues
related to the Disability Discrimination Act. The London
team is also responsible for assisting line managers within
our head office in managing the health, safety and welfare
of our office-based employees.
26th
Ranking in the hSE’s Corporate health
and Safety Performance Index
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26 Our people
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Fire safety We have also appointed Unum LifeWorks to provide an
Along with others with fire management responsibilities, Employee Assistance Programme. This confidential and
including architects, enforcers and property management impartial advice service, also available to all employees,
experts, we attended the bSI fire safety management provides support on:
standards seminar last year. We argued the case for
improving partnerships with fire management enforcers • health and wellbeing issues
and tenants, and put forward our approach for managing • practical help regarding childcare, parenting
fire risk within our business. and education
• financial and legal issues
Employee wellbeing • a wide range of work-related issues
We encourage our people to live healthier lives, and • emotional wellbeing, including anxiety and depression,
through our wellbeing policy and programme, offer a range stress, bereavement and relationships.
of initiatives to help them to get fit, stay healthy, eat well
and manage stress. To reinforce our commitment, we also provide regular
Wellbeing updates on our company intranet containing
All our employees can undertake a health assessment healthy recipe ideas, hints and tips from colleagues, and
through bUPA Positive health. The confidential online links to further information on health-related topics.
service provides access to health tips from bUPA experts,
and focuses on four key areas of health and wellbeing: In sure hands
nutrition, fitness, sleep and stress.
Setting our house in order
Did you know... that in collaboration with our insurance team, we are
constantly challenging liability and insurance costs on behalf of our
customers through our brokers? A statistical analysis of accidents at
each of our centres provides us with the tools to scrutinise ‘hot spots’,
Did you know... that an ergonomist visited 5 Strand for two days in
target resources and control costs, for both Land Securities and our
February 2010 to assess our equipment and furniture? He assessed
tenants.
how our employees’ work stations were set up, and adjusted seating,
monitors and keyboard positions to maximise comfort, reduce fatigue
and improve long-term productivity.
View the report online at
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27 Our people
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Learning and development We also review our employees’ performance every year
against personal key performance indicators, to drive
individual activities and align them with our wider
To achieve our aim of being the employer of business strategy, and the vast majority (86%) of our
choice in the property sector, we must attract, people have a learning and development plan in place,
to ensure they develop the core skills and behaviours we
recruit and retain exceptional employees who need to be successful.
will add value to our business and those of
As measured by our 2009 Employee Engagement
our customers, and help every one of our 680 Survey, 65% of employees agreed with the statement
employees to reach their full potential. that they have good opportunities to develop their career
at Land Securities.
The challenge
Safe and sound
The challenges for us are to make learning and training relevant
to all employees, not just high achievers, to extend skills
development beyond the traditional career paths and to allocate
the right amount of time and money to make it effective.
Training and career development
We encourage all our people to achieve their goals for
Did you know... that during December 2009 and January 2010, 52
career development, and deliver relevant, flexible and London Asset and Property Management staff attended a workshop
value-added learning and development solutions that on personal security and lone working? This training, which was
benefit individuals, their teams and the organisation mandatory for staff who visit clients on their own or who travel
as a whole. regularly on business, focuses on awareness, assessment and
avoidance strategies, and will be offered every six months.
Our comprehensive learning and development offer
covers a range of internal and external programmes
designed to support the personal development of our
people. They include:
• bespoke business-focused programmes for individuals
and teams
• a resource library containing books, DVDs and audio
products for employee use
• support for vocational and professional
development courses
• e-learning programmes on health and safety, diversity and
IT skills development
• coaching and mentoring support 86%
• assessment tools for developing greater self-awareness and Employees with a learning and
team effectiveness. development plan
View the report online at
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28 Our people
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Work experience and mentoring Reading all about it
We give many graduates interested in pursuing a career
in property a new perspective of the industry through
secondments with Land Securities, and we also provide
work experience for young people as well as sponsor
students. by March 2010, Group Services had hosted a
range of work shadowing placements.
Many of our senior executives and managers also support a
variety of mentoring schemes. For example:
• Alison Carnwath, our Chairman, mentors the head of Did you know... that for the second year running, we will recruit a
Westminster Academy trainee from the MSc in Real Estate at Reading University, one of the
• Donal McCabe, head of Corporate Communication, UK’s best locations for postgraduate courses in property, surveying
helps a new business, Carbon Retirement, to understand and construction-related disciplines? This year’s three shortlisted
candidates will undertake an interview, psychometric testing, work
how the media works and how to use it to communicate experience and a formal presentation before the lucky recipient
and raise their profile is selected.
• Angela Williams, Director of hR, is a non-executive
Director of Central & Cecil housing Trust, a housing
association and care provider that we have a long
association with; she recently helped to recruit a new
CEO and provides ongoing business support and advice
• Ashley blake, head of Retail Portfolio, is helping to pilot
a new mentoring programme, Pilotlight, where a panel
of people provide business advice to charities and
business start-ups.
View the report online at
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29 Our people
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Diversity and equal In support of our commitment to diversity, we aim to
increase year-on-year employee acknowledgement of
opportunities the statement “the make-up of our employee population
accurately reflects the communities in which we work”, as
measured through our Employee Engagement Survey. In
At Land Securities, we are committed to equal 2009, over 82% of our workforce classified themselves as
opportunities and a diverse, inclusive and ‘white’, and the share of our workforce agreeing with the
above statement fell by 3% to 78% of respondents.
representative workplace, in which everyone
is treated with dignity and respect. Our Sharing success
adherence to the UN Declaration on Human
Rights also underpins all our policies, systems
and actions.
The challenge
The perception of our industry is that it is a male-dominated
environment. To ensure we don’t cater to this stereotype, we
continue to attract men and women from outside the property Did you know... that Colette O’Shea, Head of Development for our
London Portfolio, shared the secrets of her success at the International
sector, those with broader skill sets and young people.
Women’s Day event at the Guildhall on 12 March 2010? Colette was
a guest speaker at the annual celebration in the City of London, which
acknowledges women’s success in the workplace and their contribu-
tion to society. All sponsorship funds went to Refuge, the national
A diverse workforce domestic violence charity.
We believe that having a workforce that reflects the diversity
of the communities in which we operate ensures we are a
stronger business, and one that is better able to relate to
those we deal with in our everyday activities.
We have had formal policies in place, in support of our
commitment to a diverse working environment, since 2006,
which form the basis of a five-year programme to promote
diversity across all areas of the business. We also have a
board-level diversity and equality champion, and diversity
48.8%
Ratio of female employees in
and equality training is included in management coaching,
as well as our recruitment and induction processes. total workforce
Reflecting this belief, in 2009 almost half (48.8%) of our
employees were women, and almost a quarter (22.8%) were
For more information please go to
aged 50 or over.
• Engagement and recognition (page 23)
• People data: Gender (page 51)
• People data: Age (page 52)
• People data: Ethnic group (page 52)
• People data: Flexible working (page 52)
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30 Our people
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our marketplace For every development project, we liaise with all those
who are influenced or affected by it to deliver a solution
that is good for everyone. For example, through sharing
A building is many things to our knowledge and building strong partnerships with our
customers, we play a part in helping them find new and
many people: a business venture better ways to make their own businesses more successful.
for the suppliers who help to by acting with fairness, honesty and integrity, we seek to be
create it, a workplace or home for the partner that suppliers and contractors choose to work
with. Good relationships are fundamental to good business
the occupiers who use it and an and that is why we value long-term relationships and
opportunities for growth.
investment for those who help to
fund it. By listening and responding Good relations with shareholders are equally important
to us. Our investors seek competitive returns from their
to those who form the key shareholdings as well as assurance that their investments
lie with a sustainable, well-governed business, so we report
components of our marketplace, we our progress in a meaningful and transparent manner and
strive to meet their expectations conform to the highest FTSE governance standards.
and thereby remain the sort of LOOKING FORWARD
developer and landlord people want We will continue to:
to do business with. • support and facilitate the economic sustainability of our
suppliers and customers
• continue to build open channels of communication in line with
the changing needs of our audiences.
Our 10-year environmental
objective is to set the
standards for innovation,
value and service that others
aspire to.
For more information please go to
• Performance data (page 49)
View the report online at
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31 Our marketplace
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our suppliers We are not complacent about the ability of our suppliers
to meet our exacting standards so during 2010, we will
continue to review the CR policies of the top 20 suppliers
We rely on our suppliers, contractors and other within our London and Retail Property Management
supply partners to deliver our projects and teams, as measured by contract value, and ensure they
remain compliant with the CR criteria in the Sentinel
run our day-to-day operations, and they play system. These top suppliers spent £530 million with us last
a major part in establishing our reputation. To year, more than half of which came through bovis Land
Lease, and between them, these 20 suppliers make up 55%
be the partner of choice, we need to act with of our total supplier spend.
fairness, honesty and integrity at all times.
In turn, we believe that by working closely with them and
keeping the lines of communication open, we can also help
The challenge to ensure their businesses benefit from the relationship too.
To that end, we hold regular meetings with our supply
We want to help our suppliers to maintain their economic chain partners, from day-to-day operational meetings to
viability and attract those with the skills they need for their collaborative discussions and debates. In both our London
business. Our suppliers need to be aligned to our way of working and Retail Portfolios, we have regular direct contact with all
but we need to recognise that they are unique, each with our principal trade contractors and aim to discuss key issues
different resources and pressures on their business. on a quarterly basis.
Closing the skills gap
Supplier relations With an eye to the future, we also believe in playing a role
Whether they are cleaning businesses, waste management in responding to skills gaps and developing an experienced
contractors or major construction companies, we have a workforce in our industry, so that our supply chain continues
set of guidelines and behaviours we expect from all the to have the expertise needed to do business with us. For
supply partners we work with. They need to have values, example, we actively support work experience, mentoring
philosophies and cultures that complement our own, and schemes and the sponsorship of students who are keen to
must operate in a similarly sustainable and ethical manner. pursue careers in our sector, such as the scholarships and
work placements available to planning students at University
In fact, all contracts require them to comply with our College London and Reading University.
sustainable development targets and objectives. Our
expectations are also integrated into Sentinel, an online
system for assessing compliance with a number of legal
and regulatory standards, ranging from procurement and
working hours to forced labour, bribery and corruption.
3,150
Land Securities suppliers
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32 Our marketplace
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Case study
Planning ahead
The property industry faces a predicted shortfall in trained planners,
but as part of our approach to community engagement, we have
made provision to support education and employment in our industry.
To help to address this potential skills gap, we have established a
scholarship fund for postgraduate students at University College
London’s (UCL’s) Bartlett School of Planning.
To assist with their training, awards of £5,000 have been made to
each of four students taking MSc planning courses at UCL. As part
of their training, they will also undertake work placements, either
with our planning consultants or a partner organisation, at the end
of their course.
The recipients of the 2009/10 Land Securities scholarship, which
falls within our sponsorship criteria for supporting education and
employment skills, were:
• June Taylor – MSc Urban Regeneration
• Sarah Morris – MSc European Property Development and Planning
• Miriam Hunt – MSc Urban Regeneration
• Alex Gandy – MSc Spatial Planning.
For more information please go to
• Learning and development (page 28)
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33 Our marketplace
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our customers Raising environmental awareness
We have set ourselves a target to raise awareness of
environmental issues among our shoppers by 10%, as
Every day, thousands of people work, live and
measured through responses to the five environmental
shop in the offices, shopping centres and retail questions we added to our shopper survey in early 2009,
parks owned and managed by us. With such an and are keen to do likewise with our retail customers.
extensive portfolio, our customers are not only To achieve this, we have launched a Sustainability Guide
numerous but varied, and have different needs, for retail tenants across all shopping centres, and seven of
expectations and aspirations. our largest shopping centres are also encouraging their
customers to become a little more green through ‘tip tree’
exhibitions. Running in different centres from February
until May 2010, these one-week exhibitions feature a tree-
shaped stand full of practical hints and tips, showing how
The challenge a small change in behaviour can make a big difference to
reducing the total environmental impact of our centres.
Through the knowledge gained from our strong, long-term The tips and facts include information on reducing food
partnerships with our tenants and occupiers, we are in a better waste, saving water, energy reduction and recycling.
position to help them to achieve their commercial objectives
and find new ways of making their businesses more successful.
The challenge for our business therefore remains in ensuring we
continue to engage effectively with our customer base.
Engaging with our customers
As a landlord of such an extensive portfolio of property, our
remit is wide, stretching from providing the best possible
service through to safeguarding the health and safety of all
those who come into contact with our operations (see page
35). We’re always striving to improve our performance,
and our efforts to create more sustainable businesses and
facilitate new opportunities for our customers include:
• looking to create incubator office and commercial Through this exhibition, we have the
workspace for new businesses across London potential to reach some thousands
• enabling new fledgling businesses to open in our
shopping centres through advice and financial support.
of people. Changing behaviour is one
of the biggest drivers in addressing
environmental issues, as it is often
97% easy to implement and has a huge
impact if everyone gets involved.”
Retail tenants willing to recommend us as Sarah Beattie, Environment Manager,
a landlord
Land Securities – Retail
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34 Our marketplace
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Case study Customer satisfaction
happy customers are long-term customers, and are
helping customers to help themselves crucial to our ongoing business success. To gauge how
well we are meeting their needs and expectations, we
carry out annual surveys of our shopping centre and office
customers once a year to measure satisfaction on three
levels: overall satisfaction, willingness to recommend us
and communication.
Our latest retailer satisfaction survey, conducted in july
and August 2009 among 332 participants at 17 of our
shopping centres, shows that overall satisfaction among
tenants remains high despite the current difficult trading
Land Securities successfully launched its new Sustainability Guide for conditions. Our Retail satisfaction score remained
retailers, “Retail needn’t cost the Earth”, in November 2009. It outlines consistently high at 4.17 (2008: 4.18) while our London
practical things like water conservation, ventilation and recycling, Portfolio satisfaction score, based on a total survey of all
and best practice approaches to follow that will not only make their customers, showed a 1% improvement on last year.
businesses more environmentally sustainable but often save them
money too.
Health and safety
Meanwhile, as part of a major environmental drive at the Willow Place We have a commitment to ensure the safety of employees,
shopping centre in Corby, retailers are each being provided with an tenants and visitors across our operations. We have policies
enviro-wheel, featuring 45 ways they can save energy during 2010. The and procedures in place to underpin this commitment,
ideas featured on the cardboard wheel include adjusting thermostats,
and regularly report on RIDDOR accidents, events and
consolidating deliveries to reduce travels costs and fuel consumption,
and cleaning lights to increase their efficiency. near misses. Regrettably, in 2009/10, 72 incidents (four in
London and 68 in Retail) were reported. between April
2009 and March 2010, we also audited 29 Retail properties
Switching on to switching off to ensure our legal and contractual obligations continue
to be met. For London, we completed 58 Property Safety
checks and 58 fire risk assessments.
RIDDOR accidents, events and near misses
2008/09 2009/10
Group total 81 72
London 3 4
Retail 78 68
Did you know... that to mark World Environment Day (5 June),
Livingston: The Centre hosted an energy-saving fayre to highlight
to shoppers the environmental and financial benefits of conserving
energy at home? Over the three-day event, run in conjunction with
the Energy Saving Scotland advice centre, thousands of people
received impartial information and advice from an expert energy For more information please go to
advisor. He also handed out energy-saving light bulbs and an energy-
saving plug called a ‘power-down’ that prevent household appliances • Energy and emissions (page 13)
going onto stand-by mode by switching them off at the wall. • Waste and resources (page 16)
• Marketplace data: Customer services (page 53)
View the report online at
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35 Our marketplace
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our investors Investor relations
Every business needs the trust, confidence and
understanding of investors, and we are keen to keep those
Our investors not only seek competitive
who invest in Land Securities informed and up-to-speed
returns but assurances that their investments on how we are performing and what we foresee happening
lie with a sustainable, well-governed business. in the market. We believe that being open and transparent
in this way offers shareholders a real opportunity to
We work closely with them, by providing understand our business and the environment we operate
meaningful and transparent reporting, and in. We extend this approach to all equity, debt and socially
conforming to the highest standards. responsible investors (SRIs).
Case study
SRI lunch
The challenge
The growing diversity of our investor base provides us with a
challenge: to develop our communication channels and provide
up-to-the-minute information about our business while making
it relevant and timely for vastly different audiences.
As part of our commitment to communication with socially
responsible investors (SRIs), we arrange one-to-one meetings with
analysts and complete investor surveys on all aspects of CR. To
discuss a particular area of CR in more detail, we hosted a lunch for
SRIs in London in October 2009. The theme of the lunch was the
environment, and Dave Farebrother, our Environmental Director, gave
a brief presentation and led the discussion.
The event was a great success, and generated debate on a wide range
of environmental issues in the property sector. The feedback from
the SRIs was very positive, and we will therefore seek to make this a
regular part of our Investor Relations programme.
10,701
Investor relations subscribers signed up to
receive the Annual Report electronically
View the report online at
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36 Our marketplace
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
To become regarded as the most transparent and Net gains for investors
responsive company in our sector, we actively encourage
dialogue with key financial audiences in a structured
engagement programme. These site visits, one-to-one
meetings and presentations help us to understand each
other’s views on our strategy and the way our business
is governed.
We also:
• regularly attend investor conferences both in the UK and
internationally to ensure that all major investors have a
chance to meet our management team personally
• communicate with shareholders through our Annual
General Meeting, our relationship with the UK
Shareholders Association and the Investor Relations
section of our website
• undertake a formal investor survey every two years, and
ask for feedback every six months following our results
presentations, which we use in discussions at board level.
In addition, we use an independent third party to conduct
analyst surveys every six months to benchmark the
quality of the Group’s investor relations and disclosure
of information. This enables us to further improve our
communication over time.
Did you know... that to lower our carbon footprint, we encourage
investors to receive correspondence, reports and other information
electronically? Our investors want the flexibility and convenience of
online company information, and we now have almost twice as many
shareholders electing to view our Annual Report online as those who
want a printed copy. We have worked hard to ensure it is easy to
navigate and meets all DDA requirements.
For more information please go to
• Energy and emissions (page 13)
• Marketplace data: Investors (page 53)
• Marketplace data: Shareholders (page 54)
For more information on LandSecurities.com
• Investors (www.landsecurities.com/investors)
View the report online at
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37 Our marketplace
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our communities because of this, we can afford to take a longer-term view.
We take the time to consult with all interested parties, from
regulators to community groups, and business partners to
As a developer and landlord, our occupiers, well before the first brick is laid. We listen to
and address any concerns our tenants and neighbours may
involvement in large-scale and have, and make the effort to forge meaningful partnerships.
These relationships give strength to the social as well as the
complex property projects often physical fabric of a community, and help to foster a real
lasts for years – even decades sense of local ownership and civic pride.
– but our intentions extend far We cannot do this alone, so we engage with local
authorities, community agencies and voluntary groups
further than simply being a good to help us to deliver effective employment, education
neighbour. By investing, not just and enterprise opportunities. These range from running
educational workshops to offering space in our shopping
in buildings but in well-integrated centres so that charities can promote their work. Our
London business has ‘employability’ as one of its main
and enduring employment, CR priorities: working collaboratively with local partners
education and enterprise to ensure long-term economic investment and to support
sustainable communities.
opportunities, we hope to
Our involvement isn’t just at the corporate level either;
make our communities brighter, Land Securities people like to do their bit too, whether it’s
donating or raising money, or sparing time for volunteer
stronger and more sustainable. work within their local communities. In the process, they
act as ambassadors for our business, and we directly support
their efforts through the Land Securities Foundation.
Our 10-year environmental LOOKING FORWARD
objective is to be recognised We will continue to:
by local communities as the
• undertake efforts that reflect the needs of communities in
which our properties are based
number one partner for the • utilise our presence to help to educate and improve
• expand and roll out innovative practices such as our ARISE
delivery of positive social and initiative and endowment funds.
economic impacts.
For more information please go to
• Performance data (page 49)
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38 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Community engagement Case study
Victoria transformation
We breathe new life into old buildings, and
create new ones that people will enjoy living,
working and relaxing in, so we would never
undertake a major development without
first listening to those likely to use it or be
affected by it.
The challenge
Victoria is one of London’s busiest transport interchanges, used by
115 million passengers a year, and has often been regarded as the
gateway to the capital, as opposed to a destination in its own right.
Everybody has a view on the impact of a building. We As a significant property owner and one of SW1’s largest landlords,
understand that it needs to be fit for purpose and also enhance with flagship premises such as Cardinal Place exemplifying the
transformation now taking place across Victoria, Land Securities helped
the community but acknowledge that you can’t please everyone.
to establish the Partnership and support its development as a Business
We need to take a long-term view and take into account the Improvement District (BID). We remain a major voluntary contributor
shorter-term concerns of our stakeholders. and are represented on the Board.
The Victoria BID brings business together to work as a collective,
helping to shape and influence the urban context, bringing positive
Working with others change and creating a sense of place for Victoria. Over the next five
Residents can have concerns about disruption from building years, the Victoria BID will invest £7.8 million on a range of projects,
works or restrictions on parking or access, but we take all driving a powerful agenda to develop an identity for Victoria as a
vibrant business and cultural destination. As one of central London’s
views on board through active engagement programmes.
largest BIDs, Victoria will add significant benefit to the locality and
We hold exhibitions and public meetings, liaise with local complement our public-service providers that are helping to position
councils and survey the people visiting our properties. And Victoria as a successful economic quarter of Westminster. This will be
on a day-to-day basis, visitors to our shopping centres can delivered through five core objectives:
also visit our customer service desks and provide feedback • develop a high-quality public realm and an improved transport
online. We then try to address the feedback we receive interchange capable of handling increasing numbers of travellers
appropriately and proactively.
• develop a premier retail and business district to promote business
relocation and retention
To maintain credibility as a trusted advisor and partner, we
• promote social and economic benefits created through the
also participate in key conferences and debates, and engage regeneration of the area
with governments and regulators through industry-wide
bodies. Members of our team regularly speak at third- • work towards a sustainable and green environment
party events and we play active roles within the british • promote Victoria as a safe, convenient and attractive destination for
Property Federation (bPF), the british Council for Offices employees, residents and visitors alike.
(bCO), the british Council for Shopping Centres (bCSC),
better buildings Partnership, London First and the Green
building Council.
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39 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Something for everyone Raising our game
Did you know... that St David’s in Cardiff has a well-established, Did you know... that in 2009, we introduced the Great British
multi-faceted community engagement programme? It includes Summer, an exciting programme of sports screenings, including
a mentoring programme for Year 11 students from the Bishop of Wimbledon and The Ashes, to our key London developments in
Llandaff School; the sponsorship of Artes Mundi, an international arts Victoria, Holborn and Southwark? Complete with caravans, bunting
prize; a leaflet encouraging pupils to consider chartered surveying as a and deck chairs, the events created a slice of the British summer for
career; Media4Schools, a media training scheme for local students; and office workers, local residents and tourists. This year’s events will
a local community fund that supports local groups and charities. feature screenings of Wimbledon, key cricket fixtures and
other activities.
A sense of place
We feel strongly that our developments should improve the judges at the 2010 MIPIM Architectural Review Future
public space and create a sense of place and community Projects Awards were equally complimentary about One
so we design our schemes to be attractive, accessible and New Change, selecting it as the winner in both the ‘Overall’
welcoming. Our New Street Square development, for and ‘Mixed Use’ categories. They praised the refreshing
instance, brings together a vibrant mix of innovative office approach of the design and described it as “an inspiring
space, shops and restaurants around a public square and landmark that will create a new era in the life of the
in winning the New City Architecture Award 2009, the City”. The shopping and leisure destination, set to open
successful use of sculpture, lighting and artwork to create in late 2010, is another prime example of our ongoing
a sense of place was singled out for praise. The judges commitment to great design in London.
described the development, which also won a 2009 RIbA
Award and was also highly commended at the 2009 Watch this space
building and Construction Industry Awards, as “providing
huge added value to its area”, and “a very welcome
addition to the City of London”.
Did you know... that the Land Securities Studio Award helps to
address the loss of creative talent due to a lack of affordable studio
space in London? The award provides three emerging artists with
a £5,000 bursary, rent-free studio space for a year and a public
exhibition of their work. In June 2009, an exhibition at the SW1
Gallery in Cardinal Place showcased our 2008 winners’ work.
View the report online at
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40 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Through our well-established public art strategy, we also Case study
invest in innovative art and design. This not only enhances
our assets but also supports local artists such as Ron Long-term endowment funds
haselden, the creator of “Day and Night, Night and Day”,
an interactive neon public art installation at New Street
Square. We continue to sponsor exhibitions at the SW1
Gallery and will have supported specific events in six of our
shopping centres by March 2010.
Endowment funds
During 2009, our London Portfolio was the founding donor
of two charitable endowment funds: the Westminster Fund
and the Kent Link Fund (see case study below). They are
a new collaborative approach to supporting charitable The sheer size of our regeneration initiatives and the degree of public
and community goals, which bring together companies, involvement require a structured approach to our charitable giving,
individuals and the public sector, all making contributions to and with long-term endowment funding, where the money to be
join funds to create a legacy that will support future needs. spent comes from the interest accrued from investing the initial sum
raised, a greater impact can be achieved over a longer period.
£150,000 For example, in collaboration with the Capital Community Foundation,
we have launched the Westminster Fund, an innovative new way
to fund local community groups, charities and social enterprises in
Donation to the Westminster Fund Westminster. Land Securities, as the founding member, will donate
over two years £150,000 over two years, which will receive 100% matched funding
from The Office of The Third Sectors Grass Roots Grants, realising a
total capital fund of £300,000.
The Kent Link Fund, launched in October 2009, mirrors the
Westminster Fund. Building upon our ongoing commitment to North
Kent, where our 1,000-acre Ebbsfleet Valley development will play
a significant part in the regeneration of the area, it will bring new
homes, jobs and commercial benefits to Dartford and Gravesham. An
investment of £50,000 over two years with 50% matched funding will
realise a total capital fund of £75,000.
Our initial focus will be to grow both funds so that in future years,
the interest pays for an increasing amount of charitable activity,
leaving the capital untouched. A grants panel will then make
recommendations for awards to local initiatives.
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41 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Charitable donations and grant giving Let it be
The London Portfolio’s Capital Commitment Fund
(CCF) awards, totalling £75,000, helped 12 community
groups and projects in Southwark, hackney, Camden,
Tower hamlets and Islington to run youth outreach
programmes, pre-employment workshops, and IT and life
skills training, during the year. We will continue to develop
the CCF and distribute the funds raised to help in three
key areas: education and employability, young people, with
an emphasis on those not in employment, education or
training (NEETs), and housing and homelessness.
Did you know... that we offer specially reduced rent and flexible
In 2009/10, our London portfolio made contributions letting agreements to charitable organisations in London? For
to charities, community groups and good causes worth example, charitable lets at Elliott House in south-west London have
£50,000. Recipients ranged from the Centrepoint hostel for been arranged for child mobility charity Whizz Kidz, the National
Centre for Young People with Epilepsy and the administrative offices
London’s homeless through to support for the Variety Club of Passage 2000, a homeless hostel in Victoria.
of Great britain and the Walk to Cure Diabetes.
Case study
Cooking and life skills £285,000
London Portfolio contributions to charities
and community groups, 2009/10
St Andrew’s Youth Club in Victoria, the oldest youth club in the world,
can now equip more young people across Westminster with essential
cooking and life skills, thanks to a £5,000 donation from Land Securities.
As well as teaching children how to cook tasty, nutritious meals, the
club’s youth workers use the cookery class as a way to engage young
people on a range of other important issues, from body image and
weight to bullying and street crime.
This is the second year we have supported St Andrew’s and this latest
grant will fund cooking equipment, ingredients and tuition for the project.
“The future of London is not just about bricks and mortar. We have a
responsibility to contribute to the social fabric of this city, not just the
physical environment. The St Andrew’s cookery project makes such a
difference to lives of young people in Westminster and is exactly the
kind of initiative that Land Securities is proud to support.”
Jack Lawrence, Community Liaison Officer, Land Securities – London
View the report online at
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42 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Employment, learning Case study
and life skills Retail Skills Academies
Our 50 retail schemes around the UK aren’t
just a place to shop or relax. They are also
a significant source of local employment,
providing construction jobs, permanent retail
employment and many other posts such as
cleaners, caterers and security staff. We are
committed to helping people to pursue careers The Leeds Retail Skills Academy, launched in September 2009, is
located in a Land Securities centre, The Leeds Shopping Plaza, and
in these areas, through initiatives such as our is a one-stop-shop for skills development, for both current and
Retail Skills Academies. future retailers.
Through the Academy, supported by Leeds City College and the
National Skills Academy for Retail (NSA), a range of qualifications
The challenge and accredited programmes, including diplomas and apprenticeships,
are delivered. It also provides bespoke courses for employers and
their staff, and non-accredited programmes for career changers and
Our business suppliers and occupiers need a talent pool, and those thinking of starting their own business. For example, over 500
it’s vital that we look to make that available in the surrounding people have been trained on a programme for the unemployed,
communities too. In an ideal world, our London offices would be and 32 students have signed up for a Foundation Degree in Retail
built using local workers and shopping centres staffed by local commencing in September 2010.
employees. Our properties would provide opportunities for local
businesses to start trading and employ more people. Our involvement will extend to offering a greater range of facilities
and services to the Academy in our planned Trinity Leeds development.
This will allow Leeds City College to deliver all its retail programmes
at the Academy and create better links between training and
Retail Skills Academies employment in the retail sector.
Shopping centres are ideal places to give young people
interested in retail careers a chance to develop their skills The NSA has opened 27 such academies since April 2009, including
and knowledge, and a first step up on to the career ladder. one in Bristol, where 83 people have been placed into jobs and 403 on
courses. The NSA is now looking to create an academy in Sunderland
and we are exploring further interest from within our own business in
For example, through the national Young Enterprise Aberdeen, Corby and Livingston.
scheme, our retail staff help young people to learn about
business by running ‘virtual’ companies, while our Retail Land Securities is represented on the NSA for Retail Board by Paul
Skills Academies run courses on communication skills Martland, Retail Operations Director, North & Scotland.
and customer service for the long-term unemployed and
young people not in education, training or employment.
Participants are guaranteed work placements, interviews
and other assistance by our centres and the retailers on-
site, and a large percentage go on to get full-time jobs. by
March 2010, we had Retail Skills Academies in three of
our shopping centres.
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43 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Recruitment programmes Case study
The recruitment programme for St David’s 2 in Cardiff
is one example where we have helped local people to Construction skills training
find employment. A dedicated ‘job shop’ provided advice
and information on construction and retail recruitment
opportunities, while a mobile jobs bus, recruitment fairs
and information in job Centre Plus offices spread the word
further afield. These were supported by a recruitment fair
at the Millennium Stadium and a website that matched
candidates’ profiles against current vacancies.
Roughly 5,000 people visited the construction job shop,
and almost one-third (1,500) found work, while more
than 19,000 online registrations were received for retail Land Securities runs an employability training programme to raise the
vacancies. This led to more than 1,000 potential recruits skill levels of workers throughout the construction industry. BeOnsite,
attending a Retail Works training course, of which a large developed by Bovis Lend Lease, offers on-the-job skills training, as
well as employment opportunities for successful candidates, at One
number were eventually offered employment.
New Change, our £540 million mixed-use development in the City
of London. The project aims to provide the high-quality training the
To further encourage recruitment, we run study industry needs and to deliver the objectives of the National Skills
support centres for students at White Rose in Leeds and Academy for Construction.
Stratford Centre in London, and our Community Link So far, the programme has provided 21 apprenticeships, and seen over
programme encourages key stakeholders such as schools 100 contractor and subcontractor employees undertake NVQs at a
to work alongside local businesses to support curriculum- number of levels. The programme has also provided jobs and work
experience opportunities for a number of long-term unemployed and
based activities.
ex-offenders, and working with the Mayor of London’s Time for Action
programme, members of the Feltham Young Offenders Institute are
however, it’s not just retail careers that we are keen to able to visit One New Change to gain first-hand experience of what
support. Our many other mentoring schemes and work life is like on a large construction site.
placements include hosting site visits by the London For Land Securities, the next step will be to develop our own
Portfolio STEMNET Ambassadors scheme. Construction Skills Academy across our London Portfolio
development schemes.
STEMNET (the Science, Technology, Engineering and
Mathematics Network) encourages young people to be The world of work
well informed about science, technology, engineering and
mathematics issues and enables them to develop their
creativity and problem-solving skills.
Since joining the scheme in the autumn of 2009, we have:
• given a presentation to Wilmington Grammar School for
Girls, Dartford, on ‘Sustainable Cities’ using One New
Change and Ebbsfleet Valley as case studies, and judged
their presentations on the same project
• given a presentation to Abel Smith Primary School,
hertford, on thermal comfort in homes Did you know... that teenage entrepreneurs helped the planet and
gained valuable business skills by opening an empty shop in the West
• met young people at the Mint Street Youth Club, 12 shopping centre for a day? As part of a Young Enterprise Achievers
bankside, to discuss career options in our industry. programme designed to give young people experience in running a
company, the students from St Paul’s Girls’ School ran the shop on
5 December 2009 on behalf of green charity Healthy Planet.
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44 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Giving time and money The Land Securities Foundation
Through the Land Securities Foundation, which was
relaunched in 2006, we coordinate our community
We are keen to make a positive difference engagement through four key areas of focus: education,
where we can. This involves providing environment, employability and enterprise.
volunteering opportunities, encouraging and Our intent has always been to support our employees in
rewarding people who do charity work in their gaining new skills through volunteering. As part of their
personal learning and development, volunteering allows
own time and supporting those employees
them to get more engaged with their local communities and
who wish to make charitable donations to, or share their skills. The key activities of the Foundation are:
fundraise for, good causes.
• to support our employees in their volunteering endeavours
• to provide bursaries towards kit and equipment
The challenge • to encourage donations to charity via our Give as you
Earn (GAYE) scheme.
We need to encourage our employees to undertake volunteering
and donate their time in ways that benefit them: developing
Going for gold
new skills, fostering contacts, understanding an issue or gaining
confidence. We need to be aware of the key issues faced in the
communities and, by taking a partnership approach, help them
to find sustainable solutions.
We also face the challenge of measuring the effectiveness of
the funding support we provide. It is often difficult to judge
the effectiveness of small or one-off donations that represent
only part of the funding for a project, but we do provide annual
feedback from recipients about the perceived value of support
made through our Capital Commitment Fund.
Did you know... that the 5% share of our workforce who participate
in payroll giving qualifies us for a Silver Award under the Government-
As part of our CR community engagement programme, funded Payroll Giving Quality Mark scheme? We plan to double
funds are made available to make financial donations to participation to 10% and achieve the Gold Award next year.
charities and community groups. This is done to provide
positive recognition and acknowledgement of Land
Securities’ alignment to key national and local
Government targets, to create a favourable reputation
with residents and communities surrounding our holdings.
As a major stakeholder within London, we make
philanthropic contributions to support the communities
in which we operate.
£871,238
Total community contribution including
charity committee funds
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45 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Employee volunteering Case study
We believe that volunteering supports personal
development, builds community spirit and demonstrates Employee volunteering
our CR principles, so we actively encourage volunteering
and offer up to two days off as ‘matched time’ in return.
Our long-term aim is for every Land Securities employee
to do at least one day of volunteering every year, and the
Foundation makes it easier for our people to get involved
by lining up a number of volunteering partners and
opportunities. Through our volunteering partners, we can
facilitate mentoring and volunteering opportunities for our
employees that not only help the communities in which we
operate, but also expands the professional and personal Willow Brook Primary School hosted a team-building event last year.
experiences of our people. About 50 colleagues from London Development spent the day at
the school in south London, painting a mural on the wall around the
Volunteering opportunities are featured on our intranet playground and running drama and art workshops with the pupils.
for individuals and departments to get involved with Another successful project saw our 50 of our Estates Team spend two
organisations such as CityAction, Young Enterprise days volunteering at the Centrepoint Homeless Hostel in Vauxhall. Our
and Centrepoint. employees were so efficient that more work had to be found for them
after they’d completed the project on day one!
Employee volunteering %
“Land Securities managed and delivered a make-over of Centrepoint’s
2009 58 Vauxhall project. The team went over and above our expectation by
2008 51 using their contacts as well as their expertise and time to make the
2007 42 service a better place to live and work.”
Nicholas Connolly, Business Development Manager, Centrepoint
0 10 20 30 40 50 60 70 80 90 100
2007 2008 2009
Employee volunteering 42% 51% 58%
Bursaries
Each year, employees can apply for one of 15 bursaries,
each up to the value of £500, to help the groups they
Our target for 2010 is to encourage 60% of employees support to contribute to the local community. In 2009/10,
across the Group to volunteer time and expertise through funds were given to 15 organisations, including a
the Land Securities Foundation. In practice, 58% of our community-run play group, a school conservation area, and
workforce (up from 51% last year) made a difference by a number of football and rugby teams.
volunteering for at least one day, either during work time
or their own time this year. Their involvement totalled Through the bursary scheme, insurance manager julie
6,289 hours. bell successfully applied for a grant to set up a home-Start
charity in Welwyn hatfield in hertfordshire. Through
Looking ahead, we hope that 5% of our employees will a network of trained volunteers, home-Start supports
use their volunteer time to provide mentoring in schools, parents who are struggling to cope with illness, disability,
businesses or community groups. bereavement or social isolation. The new charity wanted a
mascot to give it visual appeal and presence, and thanks to
the grant, hope the home-Start hippo was born.
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46 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Case study Charitable donations
Our employees also go to extraordinary lengths to fundraise
ARISE initiative roll-out for charity. They include the 40 or so brave Princesshay
employees in Exeter who abseiled 140 feet down the former
Debenhams building to raise money for the NSPCC South
West Child’s Voice Appeal and those who slept rough to
support the homelessness charity Centrepoint. Staff at our
head office also supported Red Nose Day, jeans for Genes
Day and Wear it Pink fundraising events.
Land Securities has also been involved in the Give As
You Earn (GAYE) scheme, through the Charities Aid
Foundation, since 2000. Last year, 35 employees donated
We actively seek out ways to use our skills and experience for the £75,601 of their pre-tax earnings to UK registered
benefit of the wider community, such as ARISE, a grassroots grants charities through payroll giving; additional matched
programme set up by our Retail business. funding boosted this total to £86,121.
To date, ARISE South Leeds – a philanthropic joint venture launched
in 2005 by Land Securities, Evans Property Group and Munroe K – has Rags to riches
provided funds to more than 130 groups and organisations located in
and around the White Rose Shopping Centre in Leeds. An estimated
40,000 people have benefitted from the grants made to recipients
chosen by an independent Awards Selection Committee.
Given the success of this initiative, we are now rolling out the
programme to other retail locations, including Bristol and Livingston:
The Centre, a shopping and leisure destination that has also been a
catalyst for regeneration of neighbouring areas. The initial fund for the
first year will be £10,000, and will be made available through grants of
up to £1,000.
Did you know... that Land Securities teamed up with the British
Heart Foundation (BHF) to launch The Big Donation, a national
appeal for unwanted clothes? The campaign began with events at
local BHF shops in 20 of our shopping centres, and will raise vital
funds for research, education and care services for people affected
by heart disease.
View the report online at
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47 Our communities
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our performance
To assess our ongoing progress 2009/10 performance data
We capture key performance data across our business,
towards achieving our long-term and publish it annually.
objectives, we set ourselves annual See page 49
targets. Each target has been directly Progress against 2009/10 targets
Last year, we set ourselves 38 realistic but stretching
informed by our ongoing stakeholder annual targets.
engagement process. Information See page 56
in this section covers the reporting Our 2010/11 targets
period 1 April 2009 to 31 March Our annual targets for 2010/11 will ensure we remain
on track to meet our long-term, 10-year objectives.
2010, unless otherwise stated. See page 64
Advisors’ statements
Two advisors – Corporate Citizenship and LRQA –
have provided strategic input and independent assurance
Benchmarking
by measuring our performance for the financial year to
31 March 2010.
Our CR performance is assessed through a See page 69
number of internal and external assessments
and quality standards, including our CR
report assurance process, the London
Benchmarking Group, Investors in People
and FTSE4Good.
100
90
80 Our people
Non-stop icons
70
60
50
40
30
20
10
0
View the report online at
www.landsecurities.com/crreport10
48 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
2009/10 performance data
We capture performance data in key areas
across the business, and publish it online
every year.
Company-wide Million kWh Company-wide Kilogrammes CO2 per m2
2009/10 230.76 2009/10 66.9
2008/09 204.92 Million kWh 2008/09 60.1
Company-wide Company-wide Kilogrammes CO2 per m2
Our environment – Energy use
2007/08
2009/10
171.19
230.76
Our environment – CO2 emissions
2007/08
2009/10
49.6
66.9
2006/07 179.87 2006/07 68.9
2008/09 204.92 2008/09 60.1
Company-wide
2005/06 172.95 Million kWh Company-wide
2005/06 74.8
Kilogrammes CO2 per m2
2007/08 171.19 2007/08 49.6
2004/05
2009/10 193.24 230.76 2004/05
2009/10 66.9 82.7
2006/07 179.87 2006/07 68.9
2008/09 0 50 100 150 204.92
200 250 2008/09 0 10 20 30 40 50 60.160 70 80 90
2005/06 172.95 2005/06 74.8
20
10 2007/08 30 40 50 60 70
171.19 80 90 2007/08 49.6
2004/05 193.24 2004/05 82.7
2006/07 179.87 2006/07 68.9
0 50 100 150 200 250 0 10 20 30 40 50 60 70 80 90
2005/06 172.95 2005/06 74.8
10 20 30 40 50 60 70 80 90
2004/05 193.24 2004/05 82.7
Retail 0 50 100 150 200Million kWh
250 Retail 0 10 20 30 40 50 60 70 80 90
Kilogrammes CO2 per m2
10 20 30 40 50 60 70 80 90
2009/10 50.07 2009/10 22.7
2008/09 71.49 2008/09 26.8
Retail Million kWh Retail Kilogrammes CO2 per m2
2007/08 62.19 2007/08 25.2
2009/10 50.07 2009/10 22.7
2006/07 69.46 2006/07 39.7
2008/09 71.49 2008/09 26.8
Retail
2005/06 46.86 Million kWh Retail
2005/06 32.6
Kilogrammes CO2 per m2
2007/08 62.19 2007/08 25.2
2004/05
2009/10 53.07
50.07 2004/05
2009/10 22.7 39.1
2006/07 69.46 2006/07 39.7
2008/09 0 10 20 30 40 50 60 71.49
70 80 2008/09 0 5 10 15 20 25
26.8 30 35 40 45
2005/06 46.86 2005/06 32.6
10
5 2007/08 15 20 25 30 35 40
62.19 45 2007/08 25.2
2004/05 53.07 2004/05 39.1
2006/07 69.46 2006/07 39.7
0 10 20 30 40 50 60 70 80 0 5 10 15 20 25 30 35 40 45
2005/06 46.86 2005/06 32.6
5 10 15 20 25 30 35 40 45
2004/05 53.07 2004/05 39.1
London0managed offices
10 20 30 40 50 60 70 80
Million kWh London0managed offices
5 10 15 20 25 Kilogrammes CO2 per m2
30 35 40 45
10
5 2009/10 15 20 25 30 35 40 45
180.69 2009/10 165.9
2008/09 managed offices 133.43 2008/09 172.1
London Million kWh London managed offices Kilogrammes CO2 per m2
2007/08 109.00 2007/08 142.6
2009/10 180.69 2009/10 165.9
2006/07 110.41 Our people 2006/07 140.8
2008/09 133.43 2008/09 172.1
London
2005/06 managed offices 126.08 Non-stop icons
Million kWh London
2005/06 managed offices 160.0
Kilogrammes CO2 per m2
2007/08 109.00 2007/08 142.6
2004/05
2009/10 140.17 180.69 2004/05
2009/10 161.6
165.9
2006/07 110.41 2006/07 140.8
2008/09 0 50 100 133.43 150 200 2008/09 0 50 100 150
172.1 200
2005/06 126.08 2005/06 160.0
50
2007/08 100 109.00 150 200 2007/08 142.6
2004/05 140.17 2004/05 161.6
2006/07 110.41 Note: historical emissions data differs from that published in previous reports due
2006/07 140.8
0 50 100 150 200 0 50 100 150
to a change in the CO2 emissions conversion factor from 0.43 to 0.541. 200
2005/06 126.08 2005/06 160.0
50 100 150 200
2004/05 140.17 2004/05 161.6
0 50 100 150 200 0 50 100 150 200
50 100 150 200
View the report online at
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49 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
CO2 emissions Tonnes CO2
2009/10 77.0
Our environment –
2008/09 74.0
CO2 emissions Tonnes CO2
Our environment – Waste management
Company business mileage
2007/08
2009/10 77.0
535.2
2006/07 880.8
2008/09 74.0
CO2 emissions
2005/06 847.08Tonnes CO2 Company-wide Tonnes
2007/08 535.2
2004/05
2009/10 77.0 912.1
2009/10 20,906.7 5,435
2006/07 880.8 Company-wide Tonnes
2008/09 0 74.0 200 400 600 800 1,000 2008/09 17,501 16,376
2005/06 847.08 2009/10 20,906.7 5,435
2007/08 535.2 912.1 Company-wide8,329
2007/08 13,564 Tonnes
2004/05 2008/09 17,501 16,376
2006/07 880.8 2006/07 6,001 10,342
0 200 400 600 800 1,000 2009/10
2007/08 8,329 20,906.7
13,564 5,435
2005/06 847.08 2005/06 5,467 14,791
2008/09
2006/07 6,001 17,501
10,342 16,376
2004/05 912.1 5,000 20,000
2007/08 0 5,4678,329 10,000 15,000 13,564 25,000 30,000 35,000
2005/06 14,791
CO2 10000 per mile 400
5000 emissions 15000 20000
0 200 Kilogrammes35000
25000600 30000 800 2 per mile
CO 1,000 2006/07 0 6,001
10,000
10,342
5,000 2005/06 15,000 20,000 25,000 30,000 35,000
Recycled 2006/07 2007/08 2008/09 2009/10
Non-recycled
2009/1010000
5000 15000 20000 25000
0.168 30000 35000 2005/06 5,467 14,791
Total waste (tonnes) 20,258 16,343 21,893 33,877 26,341.7
2008/09
CO2 emissions per mile 0.170
Kilogrammes CO2 per mile 0 Recycled Non-recycled
5,000 10,000 15,000 20,000 25,000 30,000 35,000
Recycled (tonnes) 5,467 6,001 8,329 17,501 20,906.7
2007/0810000
5000 15000 20000 25000
0.171 30000 35000
2009/10 0.168 Recycled (%)
Recycled 27% Non-recycled38%
36.7% 51.7% 79%
2006/07 0.268
2008/09 0.170 Retail Tonnes
CO2 emissions per mile
2005/06 Kilogrammes CO2 per mile
0.279
2007/08 0.171
2004/05 0.279 2009/10 10,787.1 5,313.1
2009/10
2006/07
0.168
0.268 Retail Tonnes
2008/09 0.00 0.05 0.10 0.15
0.170 0.20 0.25 0.30 2008/09 15,620 12,384
2005/06 0.279 2009/10 10,787.1 5,313.1
2007/08 0.171 2007/08
Retail 7,312 9,140 Tonnes
2004/05 0.279 2008/09 15,620 12,384
2006/07 0.268 2006/07 5,776 9,871
0.00 0.05 0.10 0.15 0.20 0.25 0.30 2009/10
2007/08 7,31210,787.1 5,313.1
9,140
2005/06 0.279 2005/06 5,298 14,609
2008/09
2006/07 5,776 15,620
9,871 12,384
2004/05 0.279 2007/08 0
2005/06
5,000
7,312
5,298
10,000 15,000 20,000
9,140 14,609 25,000 30,000
5000 10000
Total mileage 0.05 15000
0.00 0.10 20000
0.15 25000
0.20 30000 miles
Million 0.30
0.25 2006/07 5,776 9,871
0 5,000
Recycled 10,000 15,000
Non-recycled20,000 25,000 30,000
5000
2009/10 10000
0.46 15000 20000 25000 30000 2005/06 5,298 14,609
2008/09 0.44 0 10,000 Non-recycled20,000
Recycled 2005/06 2006/07 2007/08 2008/09 2009/10
5,000 15,000 25,000 30,000
Total mileage Million miles
5000
2007/08 10000 15000 20000 25000 30000
3.29 Total waste (tonnes) 19,907 15,647 16,452 28,004 16,100.2
2009/10 0.46 Recycled Non-recycled
2006/07 3.29 Recycled (tonnes) 5,298 5,776 7,312 15,62010,787.1
2008/09 0.44 London managed offices Tonnes
Total mileage
2005/06 Million miles
3.03 Recycled (%) 26.6% 36.9% 44.4% 55.8% 67.0%
2007/08 3.29
2004/05 3.27 2009/10 10,118.6 122.9
2009/10
2006/07
0.46
3.29 London managed offices Tonnes
2008/09 0.0 0.44 0.5 1.0 1.5 2.0 2.5 3.0 3.5 2008/09 1,881 3,992
2005/06 3.03 2009/10 10,118.6 122.9
2007/08 3.29 2007/08 1,017
London managed offices 4,424 Tonnes
2004/05 3.27 2008/09 1,881 3,992
2006/07 3.29 2006/07 225 471
2009/10
2007/08 1,017 4,424 10,118.6 122.9
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 2005/06 169 182
2005/06 3.03 2008/09 1,881 471 3,992
2006/07 225
2004/05 3.27 2007/08 1,017 2,000
2005/06
0
169 182
4,000
4,424 6,000 8,000 10,000 12,000
2000 4000 6000 8000 12000
10000
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 2006/07 225 471
Our people 0 2,000
Recycled 4,000 Non-recycled 8,000
6,000 10,000 12,000
2000 4000 6000 8000 10000 Non-stop icons
12000 169 182
Company-wide
2005/06 Tonnes
Recycled Non-recycled 8,000
2009/10 0 2,000 4,000 6,000
20,906.7 5,435 10,000 12,000
2000 4000 6000 8000 10000 12000 2008/09 17,501 16,376
Recycled 2005/06 2006/07 2007/08
Non-recycled 2008/09 2009/10
2007/08 8,329 13,564
Total waste (tonnes) 351 696 5,441 5,873 10,241.5
2006/07 6,001 10,342
Recycled
2005/06 (tonnes)
5,467 169 14,791 1,017
225 1,881 10,118.6
Recycled (%) 48.2% 32.3% 18.7% 32% 98.8%
0 5,000 10,000 15,000 20,000 25,000 30,000 35,000
5000 10000 15000 20000 25000 30000 35000
Recycled Non-recycled
Retail View the report online at Tonnes
www.landsecurities.com/crreport10
50 Our performance 2009/10 10,787.1 5,313.1
2008/09 15,620 12,384
2007/08 7,312 9,140
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our environment – Water use Our people – Diversity and equal opportunity
London managed offices Gender – total workforce (2009) Gender
2008/09 2009/10 % change
Number of properties 46 49 7%
Total floor area (m2) 421,038 425,367 1%
Total area used (m3) 343,593 268,901 -22%
Average water use (m3 per sq m/year) 816 632 -23%
% of total
Number workforce
Male 348 51.3%
Female 331 48.7%
Gender – senior management (2009)
Total employees 679 100% Gender
Gender – total workforce (2009) Gender – Group management (2009)
Gender – total workforce (2009) Gender
% of Group % of total
Number management workforce
Total employees – by age (2009) Total e
Male 222 72.3% 32.7%
Female 85 27.7% 12.5%
Gender – senior management (2009) Gender – executive board (2009)
Total employees 307 100% 45.2%
Gender – senior management (2009) Gender
Flexible working – part-time employees (2009)
Our people
Non-stop icons
% of Group % of total
Total employees – by age (2009) Number management
Total employees – by ethnic group (2009) workforce
Male 137 77.0% 20.2%
Female 41 23.0% 6.0%
Total employees – by age (2009)
Totalemployees 178 100% 26.2% Total e
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51 Our performance
Flexible working – part-time employees (2009)
Responsibility: our non-stop approach Gender – total workforce (2009) Gender
Corporate Responsibility Report 2010
Gender – Group management (2009)
Gender – senior management (2009) Gender – executive board (2009)
Gender – total workforce (2009) Gender – Group management (2009)
About us Our environment Our people Our marketplace Our communities Our performance
Our people – Diversity and equal opportunity (cont’d)
Gender – senior management (2009) Gender
Total employees board (2009)
Gender – executive – by age (2009) Total employees – by ethnic group (2009)
Gender – senior management (2009) Gender – executive board (2009)
% of Group % of total
Number management Number workforce
9 90% White 560 82.5%
Male Total employees – by age (2009) Total em
Flexible working – part-time employees (2009)
Female 1 10% Black 23 3.4%
employees – by ethnic group (2009)
Totalemployees
Total 10 100% Asian 24 3.5%
Other 18 2.7%
Not stated 54 7.9%
Total employees – by age (2009) Total employees – by ethnic group (2009)
Total employees 679 100%
Flexible working – part-time employees (2009)
% of total
Number workforce
Under 20 7 1.0%
Flexible working – part-time employees (2009)
Age 20–29 106 15.6%
Age 30–39 243 35.8%
% of part-time % of total
Age 40–49 168 24.7% Number management workforce
Age 50–59 127 18.7% Male 13 19.4% 1.9%
Age 60+ 28 4.1% Female 54 80.6% 8.0%
Total employees 679 100% Total part-time employees 67 100% 9.9%
Our people
Non-stop icons
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52 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our marketplace – Customer services Our marketplace – Investors
Shopping centres Adjusted diluted earnings per share Pence
Adjusted diluted earnings per share Pence
2005 2006 2007 2008 2009 2010 34.08
2010
2009 34.08 62.57
Understanding needs 3.6 3.63 3.87 3.94 3.94
2009
2008 62.57
60.79
Communication 3.79 3.65 3.99 3.99 3.95
2008
2007* 60.79
63.26
Willingness to
2007*
2006* 63.26
63.50
recommend us 94% 91% 94% 97% 97%
2006*
2005* 63.50
60.25
Responsiveness 3.85 3.93 3.98 3.99 3.95
2005*
2004 47.80 60.25
Overall satisfaction 3.94 3.81 4.16 4.18 4.17 2004 47.80
2003 50.88
2003
2002 50.88
48.49
2002
2001 48.49
44.74
London managed offices 2001 44.74
2000 40.63
2005 2006 2007 2008 2009 2000
1999 40.63
38.86
Understanding needs 3.52 3.44 3.72 3.63 3.64 1999
1998 38.86
36.77
Communication 3.26 3.71 3.81 3.86 3.80 1998 36.77
0 10 20 30 40 50 60 70 80
Willingness to 0 10 20 30 40 50 60 70 80
10 20 30
recommend us
40 50
94%
60 81%70 80
91% 84% 81%*
10 20 30 40 50 60 70 80 * The (loss)/earnings per share for the year ended 31 March 2007, 31 March
Responsiveness 3.66 3.45 3.51 3.60 3.61 2006 and 31 March 2005 have been adjusted for the bonus element inherent in
Overall satisfaction 3.31 3.57 3.82 3.68 3.74 the Rights Issue that was approved on 9 March 2009.
* During 2009, we used slightly different parameters for the measuring of the Adjusted diluted net assets per share Pence
‘willingness to recommend’ score. This allowed us to convert the results into a Adjusted diluted net assets per share Pence
net promoter score (NPS). The above score was gained by converting the NPS 2010 691
2010
2009 593691
into a percentage.
2009
2008* 593 1,763
2008*
2007 1,763 1,965
2007
2006 1,723 1,965
2006
2005 1,341 1,723
2005
2004 1,341
1,331
2004
2003 1,331
1,219
2003
2002 1,219
1,157
2002
2001 1,157
1,153
2001 1,153
0 500 1,000 1,500 2,000
Our people 0 500 1,000 1,500 2,000
Non-stop icons
* The (loss)/earnings per share for the year ended 31 March 2008 have been
adjusted for the bonus element inherent in the Rights Issue that was approved
500 1000 1500 2000 on 9 March 2009 and the reclassification of the Trillium discontinued operations
500 1000 1500 2000 from continuing activities to discontinued operations.
Dividends per share Pence
Dividends per share Pence
2010 28.00
2010
2009 28.00 56.50
2009
2008 56.50 64.00
2008
2007 53.00 64.00
2007
2006 46.70 53.00
2006
2005 46.70
43.25
2005
2004 37.10 43.25 report online at
View the
2004 www.landsecurities.com/crreport10
37.10
53 Our performance 2003 35.50
2003
2002 35.50
34.00
2002
2001 34.00
32.50
2008* 1,763
2007 1,965
Responsibility: our non-stop approach
2006 1,723
Corporate Responsibility Report 2010
2005 1,341
2004 1,331
2003 1,219
2002 1,157
2001 1,153
0 500 1,000 1,500 2,000
About us Our environment Our people Our marketplace Our communities Our performance
Our marketplace – Investors (cont’d) Our marketplace – Shareholders
Dividends per share Pence Geographic spread of equity shareholders 2009
2010 28.00
2009 56.50
2008 64.00
2007 53.00
2006 46.70
2005 43.25
2004 37.10 %
2003 35.50 42.07%
UK
2002 34.00
France 3.49%
2001 32.50 Geographic spread of equity shareholders 2009
Netherlands 8.42%
2000 31.00 Geographic spread of equity shareholders 2008
1999 29.50 Europe – Other 12.58%
1998 28.00 USA and Canada 14.89%
0 10 20 30 40 50 60 70 Asia 6.88%
Other 2.44%
Unidentified 9.53%
Total 100%
Geographic spread of equity shareholders 2008
Geographic spread of equity shareholders 2007
%
UK 44.64%
France 3.46%
Netherlands 7.19%
Our people 12.32%
Europe – Other
Non-stop icons Geographic spread of equity shareholders 2007
USA and Canada 12.70%
Asia 8.52%
Other 0.43%
Unidentified 10.74%
Total 100%
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54 Our performance
Responsibility: our non-stop approach
Geographic spread of equity shareholders 2008
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Our marketplace – Shareholders (cont’d)
Geographic spread of equity shareholders 2007
%
UK 44.22%
France 2.53%
Netherlands 6.86%
Europe – Other 9.92%
USA and Canada 13.17%
Asia 3.85%
Other 1.08%
Unidentified 18.37%
Total 100%
Our people
Non-stop icons
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55 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Progress against
2009/10 targets
To assess our ongoing progress towards
we
achieving our long-term objectives, 1 2set 24
ourselves 38 realistic but stretching targets.
Our progress against them is detailed below.
Summary of progress against 2009/10 Status
24
1 2 Fully completed Mostly completed
Target fully completed 8
100% 75-99%
Target mostly completed
Target partially completed Partially completed Target started
3
Target started 26-74% 1-25%
Target not applicable
Target fully completed 8 Target not Target not
Target mostly completed started 0% applicable
Target partially completed
3
Target started
Target not applicable
Objectives Target Performance Status
Our environment
We aspire to be the company To design our own new developments to be
the Government comes to for 20% below the prevailing Building Regulations
environment advice through requirements for CO2 emissions for offices
leading by example. and the common parts of retail schemes.
To reduce the CO2 emissions associated We have not achieved this for the
with energy use in managed office and retail London Portfolio (+7.57%) but
premises by 10% by 2010, compared to a have surpassed it for the retail
2007 baseline. parks (-37%) and shopping centres
Our people (-15%) in our Retail Portfolio.
Non-stop icons
To offset CO2 emissions associated
with occupation of our head offices at
5 & 11 Strand.
To achieve certification under the FSC No new developments were started
project-specific methodology for every in 2009/10.
new development.
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56 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target Performance Status
Our environment (cont’d)
Resource use To achieve a minimum of 20% recycled
content by value in every new development.
To reduce the average consumption of water Average water usage in 2009/10
across the London managed portfolio by 5%, achieved a 22.5% reduction.
in 2009/10, compared to benchmark. However, water meters have
not been installed in all London
properties.
Waste management In line with Government targets for halving No new developments commenced
construction waste to landfill by 2012, in the period covering this target.
to reuse or recycle 90% of excavation, One New Change, which was
demolition and construction waste for already underway, achieved
projects covered by Site Waste Management a recycle rate of 84.4% of
Plans, by weight, by 2010 (with the exception construction waste materials.
of hazardous materials).
To divert 95% of office waste arising from our
own head office premises from landfill.
To divert a minimum of 90% of waste from
managed London offices and 55% of waste
from shopping centres, from landfill.
To develop ‘green lease’ clauses and
supporting documentation for retail leases
based on the BBP Framework as part of the
‘Clearlet’ initiative, to trial the proposals in
six retail stores and have two London office
premises sign in full to a green Memorandum
of Understanding.
To go beyond current legislative requirements
and have Display Energy Certificates for all
managed London office premises.
Encourage employees in their an people
To develop Ourenvironmental learning module An environmental learning module
goals for career development, Non-stop icons
internally, and to have tested one module on has been drafted but is yet to be
facilitate learning and at least two groups within the business by tested on internal departments.
development in the areas March 2010.
they wish to improve on and
support employee wellbeing.
Take the lead in our sector, To pilot during 2009 a CR communications Further work is needed on creating
creating awareness and campaign in five of our office investments and a dedicated CR campaign for our
facilitating education five of our shopping centres, providing advice office occupiers.
on sustainability and on energy savings and sustainability, health
environment. and safety, and citizenship.
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57 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target Performance Status
Our people
Employees To ensure Land Securities out-performs
the Expert Training Systems (ETS)
benchmark on employee engagement
as demonstrated through the annual
Employee Engagement Survey.
To ensure that at least 70% of employees,
as measured by the Employee Engagement
Survey, believe that Land Securities’ Learning
and Development platform meets their
individual needs and enables them to
develop their careers.
To create an environment in which 75% of
employees believe their health and wellbeing
is supported measured through the Employee
Engagement Survey.
To maintain the IIP accreditation and develop
action plans for all areas identified for
improvement in the report.
In support of our commitment to diversity,
to increase year-on-year employee
acknowledgement of the statement “the
make-up of our employee population
accurately reflects the communities in which
we work” as measured through the Employee
Engagement Survey.
To exceed the amount donated by Eligible for ‘silver’ accreditation
employees in 2008/09 through the Give as from GAYE but didn’t beat
You Earn scheme. 2008/09 target.
To achieve and maintain position in the top Reduced RIDDOR incidents across
10% of the Health & Safety Executive’s the Group but only made the top
Corporate Health and Safety Performance 20% of the index.
Index (CHaSPI).
Our people
Our marketplace Non-stop icons
Suppliers
Procurement To review the CR policies of the top 20, Further work needs to be
Category Two suppliers within London and carried out to ensure suppliers’
Retail Property Management (as measured CR policies are aligned to those of
by contract value) and ensure they achieve Land Securities.
compliance with the CR criteria in the Group
supplier evaluation system (Sentinel).
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58 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target Performance Status
Our marketplace (cont’d)
Health and safety To ensure that 80% of those holding client
duties under Construction Design and
Management Regulations (CDM) 2007 have
received appropriate training to allow positive
challenge of Principal Contractors to drive
improvements in risk management.
Identify opportunities for the To offer four work placements through a
development of successful Postgraduate Planning Scholarship fund that
candidates through actively has been established through University
supporting work experience College London.
opportunities for young
people, mentoring and
lecturing and sponsoring
students.
Customers
Support customers to deliver To achieve an increase to 3.95 in the overall
their business effectively customer satisfaction ratings in the London
by actively engaging them Portfolio and Retail annual customer surveys.
in discussions on how Land
Securities can best support
them in delivering their
business objectives and
adapt our business systems
accordingly.
Facilitate new business To create incubator office or commercial Creating incubator offices was not
workspace facilities for five new business as successful as supporting the new
ventures across the London Portfolio and retail businesses.
enable three new fledgling businesses to
open in our shopping centres with advice and
financial support.
Take the lead in our sector, To launch a Sustainability Guide for use by
creating awareness and retail tenants across all our shopping centres.
facilitating education on Our people
sustainability Non-stop icons
Investors
To operate for all Socially Responsible We continue to work on the
Investors a tailored meeting on any aspect of inclusion of CR information within
the Group’s CR programme. all investor communications.
To achieve a 2% increase year on year Tools for measurement in place.
of the number of new subscribers to Investors now encouraged to
e-communications. switch to e-communications, not
just to receive the annual report in
electronic format.
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59 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target Performance Status
Our communities
To prepare, implement and monitor travel Work has begun on individual
plans for five of our major estates in order to plans but not completed for five
reduce CO2 emissions related to our tenants’ major estates.
travel to and from work.
Actively seek out new and a) To contribute actively to local communities
build on existing opportunities by encouraging 60% of employees across
to use our skills and the Group to volunteer time and expertise
experience for the benefit through the Land Securities Foundation.
of the wider community
b) To develop the Capital Commitment
(with particular focus on
Fund (CCF) to maximise the fund for the
underprivileged people).
benefit of the local communities within the
London Portfolio, distributing all the funds
for 2009/10 to the focus areas of education,
young people and housing/homelessness.
c) To identify opportunities across the UK Two other centres identified,
where Retail can facilitate the setting up of briefed on the principles of the
grassroots grants sponsored programme programme and ready for roll out.
near one of our centres, and roll out the
principles of the ARISE programme to two
Retail locations.
Coordination with charities to To complete two marketing campaigns with
support their business. Oxfam and British Heart Foundation across all
shopping centres by March 2010.
Show a commitment to raising To encourage recruitment by hosting job fairs
horizons; working with young in two of our shopping centre assets.
people in education and
career planning.
To establish Community Link programmes at
development sites.
Through our volunteering a) To engage 5% of employees to volunteer
partners, we aim to facilitate their time mentoring in schools, businesses
mentoring and volunteering Our people
or community groups including young
opportunities for Land Non-stop icons
enterprise programmes and other relevant
Securities employees that educational programmes.
exploits our wealth of talent
b) To have Retail Skills Academies in three of
to help the communities
our shopping centres by March 2010.
in which we operate, while
expanding employees’
professional experience. c) To work with National Skills Academy for NSAFC status is being
Construction to implement a developer-led developed for Land Securities as
approach to obtaining NSAFC status for a a developer rather than for an
Land Securities development site in London. individual project.
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60 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target Performance Status
Additional targets
Identify opportunities for Group Services to have hosted five work
the development of successful shadowing placements by March 2010.
candidates through actively
supporting work experience
opportunities for young
people, mentoring and
lecturing and sponsoring
students.
Through our volunteering To set up a programme with other business NCSA being established
partners, we aim to facilitate partners/suppliers to provide valuable work across Land Securities London
mentoring and volunteering experience to the unemployed in different development sites. Retail Skills
opportunities for Land areas and disciplines in the business. Academies running in Leeds and
Securities employees that Bristol, with Exeter being finalised
exploits our wealth of talent and Aberdeen and Sunderland
to help the communities under consideration.
in which we operate, while
expanding employees’
professional experience.
Encouraging education a) To influence the understanding of health
through practical learning and safety risk management through
of life skills that will benefit educational partnerships, the Group will aim
their health and safety and to have engaged five educational institutions
better understanding of and established a programme to assist them
their environments. in 2009/10.
b) Retail to expand the Safe Child scheme
to a minimum of 15 shopping centres by
March 2010.
By setting stretch targets To create awareness of the innovation
internally we hope to category of the People into Action Awards
encourage entrepreneurial and encourage employees and managers to
behaviour. nominate through promotion of the award
internally, the Group aims to have nine
nominations for the innovation award by
Our
March 2010. people
Non-stop icons
Use our investment in art, a) To sponsor more exhibitions in SW1
design, fashion and innovation Gallery to encourage art, design, fashion
to support up and coming or innovation.
artists from the local
community. b) To support specific art, design, fashion or
innovation based events in six of our shopping
centres by March 2010.
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61 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target Performance Status
Additional targets (cont’d)
To recommend actions to reduce energy London Estate Managers
usage in the properties for which case are working with relevant
studies were developed in 2008/09 and seek occupiers to implement these
to implement these recommendations by recommendations.
agreement with occupiers through the site-
specific environmental management plans.
Gain a better understanding To undertake three impact assessments Assessments are being undertaken
of how the Group’s across the Group in conjunction with external in both London and Retail
community activities impact agencies and one community project from community projects. Findings are
the communities in which each of the London Portfolio and Retail being finalised.
we operate. businesses.
Environment – Biodiversity To evaluate existing biodiversity conditions No new developments commenced
before commencing development schemes between April 2008 and
and ensure that each project improves the March 2010.
quality of the habitat with regard to the
number of species of flora present.
Environment – Resource use To measure the performance of rainwater
harvesting at Dashwood House, White Rose,
Cabot Circus and Livingston: The Centre to
further define our strategy for reducing
water consumption.
Environment – Management a) To continue to submit all new major office
and retail shopping centre developments for
BREEAM assessment with a minimum target
of “Very Good”; to work with BRE to develop a
suitable methodology for assessing
retail warehouses.
b) To develop all residential schemes to
meet the Level 3 rating of the Code For
Sustainable Homes.
To trial the Better Building Partnership (BBP) Not applicable; subsumed in
‘Green Lease Framework’ on two London other target.
Our people
offices, aiming to agree a Memorandum
Non-stop icons
of Understanding with the occupiers that
incorporates appropriate best practice
recommendations for the environmental
management of the premises to be delivered
through a dedicated environmental
management plan.
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62 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target Performance Status
Additional targets (cont’d)
To achieve a 10% awareness among
our shopping centre customers
through our Consumer Awareness
Environmental Programme.
To have the Group Safety Management
System certificated to BS 18001:2007.
To ensure that the Learning & Development
provision is developed and actively used,
measured by 90% of feedback from course
attendees being marked as ‘good’ or above.
Actions agreed on how to deliver
requirements, development provided for
those identified for progression within the
succession plan.
Investors Conduct separate surveys of investors and
analysts in order to benchmark the quality of
the Group’s Investor Relations and to establish
comparative data for future surveys.
Our people
Non-stop icons
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63 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
2010/11 targets
The annual targets we have set ourselves for
2010/11 will ensure we remain on track to
meet our long-term, 10-year objectives.
Objectives Target
Our environment
Reducing carbon emissions by Reduce average CO2 emissions from the
30% by 2020 managed portfolio by 30% by 2020 (compared
to 2000/2001). This will lead to interim
reduction targets between April 2010 to
March 2013 of:
1. Offices 8.3%
2. Shopping Centres 5.8%
3. Retail 8.41%.
2010/11 target only New development design to be ahead of 2010
Building Regulations requirements in terms of
CO2 emissions by the following amounts:
2010/11: 5% below Building Regulations,
2011/12: 15% below Building Regulations and
2012/13: 20% below Building Regulations.
To develop a zero-carbon building by
December 2018.
2010/11 target only To increase the percentage of waste reused
or recycled to 70% across the managed
London Portfolio.
2010/11 target only To increase to 70% the amount of waste
diverted from landfill for the shopping
centres portfolio.
Our people
Non-stop icons Reduce cubic metre water usage per square
metre of managed floor area across the London
portfolio by 5% by 2020 compared to 2009/10.
To achieve FSC project-specific certification for
every completed development.
For each tree cut down in the course of our
development activities, working in association
with the Woodland Trust we will plant at least
100 new trees.
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64 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target
Our environment (cont’d)
Zero environmental incidents.
2010/11 target only Have in place signed Memoranda of
Understanding in 10% of managed London
properties by April 2011.
2010/11 target only To win one major environmental award
or be shortlisted for two major
environmental awards.
2010/11 target only Across our shopping centre portfolio, to
achieve 40% consumer recognition of our
environmental improvement programme.
All new developments and major
refurbishments to achieve a “Very Good” rating
under BREEAM (2008) with an aspiration
for “Excellent” where reasonably practical;
residential schemes to achieve Code for
Sustainable Homes Level 3.
Our people
Recognised in the UK as Employees Employees across Land Securities believe that
an employer of choice for the learning and development provision and
developing people to be the opportunities provided across the Group meet
best that they can be their individual needs and enable them to
achieve their potential.
Land Securities receives external recognition for
its commitment to learning, development and
career progression.
To create an environment where employees
believe their health and wellbeing is supported
to enable them to contribute to the
performance of the organisation.
To ensure the diversity of the communities in
Our people which we work are reflected in the workplace to
Non-stop icons maximise the delivery of an effective business
which responds to customer needs.
Employees are engaged in the communities
in which we work and contribute actively to
the growth and wellbeing of those communities
and are recognised across the industry as
a whole.
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65 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target
Our marketplace
Investors to set standards of Improved investor communications Raise awareness among equity investors and
innovation, value and service improve investor communication.
that others aspire to
Conduct separate surveys of investors and
analysts in order to improve the quality of the
Group’s investors relations.
To operate for all Socially Responsible Investors
a tailored meeting on any aspect of the Group’s
CR programme.
Increase environmentally friendly Reduce dependency on paper-based
communications communications.
Suppliers to set standards of Increase awareness and alignment of Land Supplier and service partner goals to be
innovation, value and service Securities CR vision and goals. consistent with our CR vision.
that others aspire to
Reinforce consistency of supplier and service
partner goals with our own CR vision. Adopt a
proactive collaboration on Land Securities’ CR
vision and targets.
To improve our efficiency and effectiveness at
delivering construction projects by identifying
a key construction partner(s) that is willing to
provide a Principal Contractor perspective to
Project Managers.
To work with Principal Contractors to drive
down incident rates on Land Securities projects
towards or below the industry benchmark.
Health and Safety To ensure that 80% of those holding client
duties under Construction Design and
Management Regulations (CDM) 2007 have
received appropriate training to allow positive
Our people challenge of Principal Contractors to drive
Non-stop icons
improvements in risk management.
Supply Chain Engagement Key suppliers in the supply chain agree
to source between 1% and 5% of new hires
from those re-entering employment for the
first time.
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66 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target
Our marketplace (cont’d)
Suppliers – Procurement To build relationships with and influence the CR
activities of suppliers and train contractors to
enable them to create worthwhile, sustainable
and aligned CR policies.
Identify opportunities for the development Develop and deliver an agreed approach to
of successful candidates through actively work placements and work experience across
supporting work experience opportunities for the Group.
young people, mentoring and lecturing and
sponsoring students.
Suppliers to set standards of Increase awareness and alignment of Land Develop asset-level environmental plans for all
innovation, value and service Securities CR vision and goals. our shopping centres (including those held in
that others aspire to – joint ventures).
Retail only
Support customers to deliver their business Improve overall customer satisfaction ratings
effectively by actively engaging them in in the London and Retail Portfolio annual
discussions on how Land Securities can best customer survey.
support them in delivering their business
objectives and adapt our business
systems accordingly.
Customers to set standards of Facilitate new business Enable three new fledgling businesses to open
innovation, value and service in our shopping centres supported by advice
that others aspire to and financial advice. To create incubator office
or commercial workspace facilities for new
business ventures across the London Portfolio.
Take the lead in our sector, creating awareness To launch a Sustainability Guide for use by
and facilitating education on sustainability. retail tenants across all our shopping centres.
Take the lead in our sector, creating To have worked in partnership with an
awareness and facilitating education on Fire external provider to provide best practice
Warden Training. Fire Warden Training, and to offer the service
together with a significant cost savings to 80%
of our portfolio.
Our communities Our people
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Recognised by local To prepare, implement and monitor travel plans
communities as the number for five of our major estates in order to reduce
one partner for the delivery CO2 emissions related to our tenants’ travel to
of positive social and and from work.
economic impacts
Develop the Capital Commitment Fund (CCF)
to maximise the fund for the benefit of the
local communities within the London Portfolio,
distributing all the funds for 2009/10 to the
focus areas of education, young people and
housing/homelessness.
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67 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Objectives Target
Our communities (cont’d)
Identify opportunities across the UK where
Retail can facilitate the setting up of a
grassroots grants-sponsored programme; roll
out ARISE programme to two Retail locations.
To have Retail Skills Academies in three of our
shopping centres by March 2011.
To work with National Skills Academy for
Construction to implement a developer-led
approach to obtaining NSAFC status for a Land
Securities development site in London.
Show a commitment to raising horizons; To encourage recruitment by hosting job fairs in
working with young people in education and two of our shopping centre assets.
career planning.
Coordination with charities to support To support charities by providing commercial
their business. space at preferential terms.
To encourage and support local employment Work with local brokerage employment
opportunities around London Portfolio agencies to deliver employment opportunities
development sites. to local residents, supporting the fringe
boroughs around development sites.
To engage with schools and young people Set up a programme with other business
raising awareness of opportunities of partners/suppliers to provide valuable work
employment within property and the experience to the unemployed in different areas
construction industry. and disciplines in the business.
Volunteering opportunities – Actively seek out To contribute actively to local communities
new and build on existing opportunities to by encouraging 60% of employees across the
use our skills and experience for the benefit Group to volunteer time and expertise through
of the wider community (with particular the Land Securities Foundation of which 5%
focus on underprivileged people). Through our of employees volunteer their time mentoring
volunteering partners, we aim to facilitate in schools, businesses or community groups
volunteering opportunities for Land Securities including young enterprise programmes and
employees that exploits our wealth of other relevant educational programmes.
Our people
talent to help the communities in which
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we operate, while expanding employees’
professional experience.
Encouraging education through practical Influence the understanding of health and
learning of life skills that will benefit their safety risk management through educational
health and safety and better understanding of partnerships. In 2010/11, the Group will aim
their environments. to continue its engagement with at least four
educational institutions.
Use our investment in art, design, fashion and To use available vacant space to promote art,
innovation to support up and coming artists design fashion, innovation and culture.
from the local community.
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68 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Advisors’ statements
Ensuring robust and formal reporting Verifier’s statement – LRQA
mechanisms internally gives us more See page 70
consistent data across all our areas of
Advisor’s statement – Corporate Citizenship
activity and allows us to report on CR See page 72
progress at regular intervals. We have
appointed two advisors to provide
transparent assurance to this process.
Corporate Citizenship has acted as advisors to the CR
Committee and provided strategic input and best practice,
while LRQA provided independent assurance by measuring
our performance against our targets for the financial year to
31 March 2010.
Our people
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69 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Verifier’s statement – Our assurance opinion approach was risk-based and
undertaken as a sampling exercise of the data and
LRQA information disclosed in the Reports. It covered the
following activities:
LRQA assurance statement to the management • Interviewing
Land Securities and
LRQA assurance statement to the management and stakeholders ofsenior managementLtd other key personnel
and stakeholders of Land Securities Ltd to understand Land Securities’ monitoring and reporting
processes, performance indicators setting and use of
Terms of engagement
Terms of engagement sustainability performance data within its business decision-
Lloyd’s Register Quality Assurance Limited (LRQA) was
Lloyd’s Register Quality Assurance Limited (LRQA) was commissioned by Land Securities to
making processes
opinion of both
provide ‘Moderate Level’ assurance provide ‘Moderateits web-based Corporate Responsibility
commissioned by Land Securities to • Reviewing Land Securities’ approach to
Report 2010 and printed summary report (hereafter referred to as the Reports) for the financial
Level’ assurance opinion of both its web-based Corporate stakeholder engagement
year ending 31March 2010. Additionally this covered the summary of progress against CSR
summary report
Responsibility Report 2010 and printedAnnual Report.
targets included in the 2010 Financial • Reviewing Land Securities’ processes for determining
(hereafter referred to as the Reports) for the financial year material issues
ending 31 March 2010. Additionally this covered the • Evaluating Land Securities’ material issues against
summary of engagement CSR targets included in AA1000 Assurance Standard 2008 other companies in
The assuranceprogress againstwas undertaken againstthe external media reports and
(AA1000AS), where the scope was a Type 2 engagement. Land Securities chose not to report
2010 Financial Annual Report. comparable industries
against the Global Reporting Initiative Sustainability Reporting Guidelines (GRI G3), 2006.
• Understanding how Land Securities determines, responds
The assurance engagement was undertaken against AA1000 and reports on its material issues
Assurance Standard assurance opinion engagement
The objectives of the2008 (AA1000AS), where the scopewere to review the Reports for adherence properties, volunteer
• Visiting a selection of Land Security
was a Type 2 engagement. Land Securities Materiality
to the AA1000AS principles of Inclusivity, chose not to and Responsiveness, and to evaluate theto assess progress with
activities and community projects
reliability of the sustainability performance information.
report against the Global Reporting Initiative Sustainability CSR targets
Reporting Guidelines (GRI G3), 2006. • Reviewing selected Land Securities’ documents relating to
The Reports have been prepared and approved by Land Securities, who are also responsible for
CSR issues
The objectives of presentation of information within them. • Reviewing data samples and processes relating to
the collection and the assurance opinion engagement were LRQA’s responsibility was to carry
to an assurance opinion engagement on these Reports, in accordance with our contract ‘Performance’ section of
out review the Reports for adherence to the AA1000AS information presented in the with
Land Securities.
principles of Inclusivity, Materiality and Responsiveness, the reports to assess whether the data had been collected,
and to evaluate the reliability of the sustainability consolidated and reported accurately
• Reviewing the to any other person
LRQA does not accept or assume any responsibility for any other purpose or‘Performance Status’ of each CSR target to
performance information.
or organisation. assess whether they had been reported accurately.
The Reports have been prepared place on these Land
Any reliance any third party mayand approved by Reports is entirely at its own risk.
Securities, who are also responsible for the collection Our conclusions
and presentation of information within them. LRQA’s
Our approach based on the terms of engagement, LRQA’s conclusions
opinion
responsibility was to carry out an assurance obtained sufficientfor adherence towe consider Accountability Principles are
In order to form our conclusions we have evidence that the AA1000
engagement us these Reports, in accordance with our
necessary for on to give the ‘Moderate Level’ of assurance opinion as stated in the terms of
as follows:
contract with
engagement. Land Securities.
Our people Inclusivity
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LRQA does not accept or assume any responsibility for Land Securities has processes in place to identify stakeholder
Our assurance opinion approach was risk-based and undertaken as a sampling exercise of the
any other purpose or to any other person or organisation. groups and actively engage with them on material
data and information disclosed in the Reports. It covered the following activities:
Any reliance any third party may place on these Reports is sustainability issues. Land Securities plans to improve
• Interviewing senior management and other key personnel to understand Land
entirely at its own risk. these processes with a more formalised stakeholder
Securities’ monitoring and reporting processes, performance indicators setting and use
engagement process.
of sustainability performance data within its business decision-making processes.
Our approach
In • Reviewing Land Securities’ approach to stakeholder engagement
order to form our conclusions we have obtained sufficient Materiality
• Reviewing Land Securities’ for us to give determiningLand Securities has processes in place to determine the
evidence that we consider necessary processes forthe material issues
• Evaluating Land Securities’ material issues against materiality of sustainability issues.
‘Moderate Level’ of assurance opinion as stated in the terms external media reports and other The Reports provide a
companies
of engagement. in comparable industries balanced representation of these issues.
• Understanding how Land Securities determines, responds and reports on its material
issues.
View the report online at
• Visiting a selection of Land Security properties, volunteer activities and community www.landsecurities.com/crreport10
performance
70 Ourprojects to assess progress with CSR targets
• Reviewing selected Land Securities’ documents relating to CSR issues
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
The selection and prioritisation of material issues is largely Third-party liability
based on the judgement of the Corporate Responsibly LRQA, its affiliates and subsidiaries and their respective officers,
Committee and its advisors and lacks a formal assessment employees or agents are, individually and collectively, referred to
process and evaluation criteria. in this clause as the ‘Lloyd’s Register Group’. The Lloyd’s Register
Group assumes no responsibility and shall not be liable to any
Responsiveness person for any loss, damage or expense caused by reliance on the
Land Securities has set an appropriate range of CSR targets information or advice in this document or howsoever provided,
for the business together with appropriate performance unless that person has signed a contract with the relevant Lloyd’s
information and data. The targets and performance Register Group entity for the provision of this information or
information and data respond to the stakeholder concerns advice and in that case any responsibility or liability is exclusively
and interests. on the terms and conditions set out in that contract.
Reliability of specified sustainability performance LRQA’s competence and independence
information LRQA ensures the selection of appropriately qualified individuals
The information presented within the Reports is fair and based on a rigorous appraisal of their qualifications and
accurate. This conclusion is based on our assurance process experience. The team conducting the assurance of Land Securities’
which assessed the monitoring and reporting processes and Reports was multi-disciplinary and has been involved in assurance
conducted some detailed sampling of data. assessments from the outset of external verification of non-financial
performance reports.
LRQA’s recommended improvements
• Land Securities should implement its plans for a formalised LRQA’s internal systems have been designed to manage and review
stakeholder engagement process. assurance and certification assessments. This involves a review
• Land Securities should develop a documented process for by senior management of the outcome derived from the process
evaluating the materiality of sustainability issues including applied to the assurance of corporate reports.
evaluation criteria.
Independence of LRQA from Land Securities
LRQA is Land Securities’ certification body for ISO14001 and
OhSAS 18001.
The assurance and certification assessments are the only work
undertaken by LRQA for Land Securities.
Conflict of interest
C.E. Rosser, Lead Verifier LRQA is part of the Lloyd’s Register Group. Lloyd’s Register
10 june 2010 Group recognises that potential conflicts of interest may exist
which could impact on its independent verification activities.
Our people
This Assurance Statement is valid for one calendar year from Lloyd’s Register Group is committed to identifying and managing
Non-stop icons such conflicts so that they do not adversely impact its independence
the date of issue. It is based on a complete disclosure by Land
Securities of all relevant data and information. It may only be and impartiality.
reproduced in full and is subject to the provisions on Third-Party
Liability given opposite. In order to protect this integrity, neither LRQA nor any other
Lloyd’s Register Group company will provide services which create
a conflict and compromise the independence and impartiality of
third-party certification and assurance. The Lloyd’s Register Group
will never verify its own solutions to a customer’s problem.
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71 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Advisor’s statement – Our approach
Our external review and commentary process has involved,
Corporate Citizenship but not been limited to, the following elements:
• Understanding Land Securities and its value chain; its
Objectives of the review approach to and understanding of corporate responsibility;
Land Securities commissioned Corporate Citizenship and how it identifies issues material to its operations.
to undertake an independent review of the company’s • benchmarking against peers, competitors, best practice and
Corporate Responsibility Report 2010 (the Report). internationally recognised standards to identify the basis on
which to judge Land Securities’ performance.
The purpose of the review process was two-fold: • Reviewing media and other sources to establish issues of
importance in the sector and wider stakeholders.
1. Work with senior management in Land Securities to • Drawing on Land Securities’ own sources of information
provide strategic advice and guidance on reporting to investigate different stakeholder views and ensure that
relevant aspects of the company’s corporate responsibility the Report is responsive to the key concerns of the Report’s
strategy, policies and performance. principal audiences.
2. Ensure the Report is robust, credible and provides • Advising on the process for reviewing and establishing
Land Securities’ stakeholders with a balanced account corporate responsibility targets and performance measures.
of the social and environmental challenges and successes • Meetings and discussions with a cross-section of senior
of the company. management to explore the company’s approach to
corporate responsibility reporting, its future challenges and
Scope of work its relations with stakeholders.
Land Securities is solely responsible for the contents of • Attending regular meetings of the Corporate
the Report. The review process undertaken by Corporate Responsibility Committee.
Citizenship provides stakeholders with an independent, • Examining the Report at set stages in its development and
external assessment of the Report. It is intended for the advising on focus areas and material issues.
general reader and for more specialist audiences who
have a professional interest in Land Securities’ Commentary
sustainability performance. The performance measures and targets included in the
Report are an important mechanism by which Land
The opinions expressed in this external commentary are Securities drives the implementation of its approach to
intended to extend understanding of Land Securities’ corporate responsibility. As such, it is worthwhile focusing on
non-financial performance and should not be used or relied this aspect of the Report.
upon to form any judgements, or take any decisions, of a
financial nature. In our view, the performance measures and targets provide
a balanced and appropriate account of the material social
Our people
In reviewing the Report, we took into account the principles and environmental impacts of the business; there are no
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of a range of international reporting and assurance icons significant omissions which could affect a stakeholder’s ability
standards. however, our work did not extend to a complete to make an informed judgement of the company.
audit of the Report’s contents.
The company should be applauded for the fact that the
It should be noted the data on Land Securities’ performance performance measures and targets include some indirect
on a range of social and environmental indicators included impacts. These cover areas where Land Securities seeks to
in the Report have been independently assured by LRQA influence positively the performance or behaviour of those
(see page 70). stakeholders over which it does not have a direct control – for
example, the behaviour of contractors, tenants and shoppers
in its retail properties.
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72 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
A further significant result of reviewing the company’s company is responding to specific issues or areas where
performance measures has been the adoption of a number performance is not meeting targets. For example, the Report
of long-term aspirations. Setting these forward-looking would benefit from more transparency on how the company
objectives, which span the next 10 years, is an important and plans to reduce the number of RIDDOR incidents reported.
ambitious step in Land Securities’ approach to managing
and reporting on its corporate responsibilities. building on this last point, while overall the Report has
much to commend it, Land Securities must be vigilant in
In addition, it is important to note that the Corporate ensuring future reports retain an appropriate balance and the
Responsibility Committee reviews progress against targets on company is open about areas where improvement is needed,
a regular basis and discusses appropriate actions to improve as well as reporting on successes.
performance. This will remain a crucial mechanism for
ensuring the company meets its ambitions in this area. Finally, the Report could go further to show how Land
Securities is trying to embed responsible practices into
beyond the performance measures and targets, the all aspects of its day-to-day business. This would involve
Report demonstrates that Land Securities has a clear further explanation of how corporate responsibility has
understanding of its major stakeholders and the key issues contributed to the financial success of the company. It
of importance to them. might also include a broader discussion of the economic
impact of the business using indicators such as employment
Finally, the overall Report itself is much improved from creation, tax and supply spend.
previous years in style, presentation and format. It is clearly
laid out and makes good use of the online format to provide Conclusion
relevant material in an accessible manner. Overall, we have found much to be commended in the
Corporate Responsibility Report 2010, particularly with
Recommendations regard to the way in which the company has identified
Despite these positive improvements in Land Securities’ clear, long-term performance objectives for its key issues
approach to corporate responsibility reporting, there are a and impacts.
number of areas where the company could go further.
In this commentary, we have highlighted specific areas for
Corporate Citizenship is aware that Land Securities improvement regarding the company’s reporting and we look
is actively considering ways in which to engage with forward to seeing how these are reflected in future reports.
stakeholders by convening an independent Stakeholder Panel
to offer feedback and advice on future reporting strategy and Independence and competence
approach. This development is to be welcomed as the Report Corporate Citizenship is a leading assuror of corporate
would benefit from including the results of further dialogue responsibility reports. For more details on the knowledge
with key stakeholders to ensure it continues to provide and experience of those involved in this review process,
appropriate coverage of material issues. please visit our website. This is the first year that Corporate
Our people Citizenship has provided Land Securities with an external
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The company could also improve its measurement and review process. Our fees for this work did not exceed 1% of
reporting of community activities. In particular, the trend our total fee income.
in this area is towards measuring impact, rather than simply
reporting what a company is contributing through cash, time Corporate Citizenship
and in-kind. Again, Land Securities’ target to undertake London
three impact assessments of community projects will be a june 2010
positive step in the right direction.
www.corporate-citizenship.com
In addition, there are certain areas in the Report where
it would be valuable to understand more about how the
View the report online at
www.landsecurities.com/crreport10
73 Our performance
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Glossary
10:10 Campaign Expert Training Systems (ETS)
Supported by partner organisations including the Energy Saving Trust and the An HR consultancy and technology provider to blue-chip UK and
Carbon Trust, 10:10 aims to unite British society to cut the UK’s carbon emissions international businesses.
by 10% in 2010. As a signatory, Land Securities has committed to cut emissions
by 10% in 2010/11 compared to last year. This commitment relates to emissions Forest Stewardship Council (FSC)
directly associated with running our business (our head office and transport carbon An independent, non-governmental, not-for-profit organisation that promotes the
emissions) rather than our managed portfolio. responsible management of the world’s forests.
Better Buildings Partnership (BBP) FTSE4Good
A group of property organisations that support the Mayor of London’s target of The FTSE4Good index series measures the performance of companies that meet
reducing CO2 emissions by 60% by 2025 over 1990 levels. globally recognised CR standards, and facilitates investment in those companies.
British Council for Offices (BCO) Green Building Council
The BCO researches, develops and communicates best practice in all aspects of the A UK membership organisation helping to dramatically improve the sustainability
office sector, providing a forum for the discussion and debate of relevant issues. of the built environment, by radically transforming the way it is planned, designed,
constructed, maintained and operated.
British Council for Shopping Centres (BCSC)
The BCSC promotes retail-led regeneration and growth, embracing all shopping Key performance indicators (KPIs)
formats and offering a powerful forum for debate and action. Activities and behaviours, aligned to both business objectives and individual goals,
against which the performance of Land Securities employees is annually assessed.
British Property Federation (BPF) Performance measured against them is referenced in the Annual Report.
The BPF aims to sustain and promote the interests of all those who own and invest
in property in the UK. London Benchmarking Group (LBG)
An international, member-driven organisation whose model provides a
BS ISO 14001:2007 comprehensive and consistent set of measures that facilitates the measurement
The international standard for environmental management systems. and benchmarking of a company’s contribution to the community, including cash,
time, in-kind donations and management costs.
Building Research Establishment’s Environmental Assessment Method
(BREEAM) London First
The world’s most widely used environmental assessment method for buildings. An influential business membership organisation aiming to make London the best
It assesses environmental impact against a set of objective criteria and sets the city in the world in which to do business.
standard for best practice in sustainable development.
National Skills Academy for Construction (NSAFC)
Commission for Architecture and the Built Environment (CABE) A Centre of Excellence providing a range of learning and development
A public agency that advises the Government on urban design, architecture and opportunities centred on construction projects.
public spaces.
OHSAS 18001
Corporate Health and Safety Performance Index (CHaSPI) The international standard for occupational health and safety
CHaSPI is the Health and Safety Executive’s benchmarking system for assessing management systems.
how well UK organisations with more than 250 employees manage their health
and safety risks and responsibilities. Prince’s May Day Network
A group of more than 1,700 UK businesses committed to taking action on climate
Disability Discrimination Act (DDA) change and reducing the nation’s carbon emissions.
The DDA is a piece of legislation that promotes civil rights for disabled people and
protects disabled people from discrimination. Reporting of Injuries and Dangerous Occurrences Regulations (RIDDOR)
Since 1995, employers, the self-employed and people managing premises have had
Endowment fund a legal duty under Reporting of Injuries and Dangerous Occurrences Regulations
A fund where the money to be spent comes from investment income, rather than (RIDDOR) to report work-related deaths, accidents, injuries, illnesses and
from the principal fund itself, giving it a greater impact over a longer period. dangerous occurrences (near misses).
Environmental impact assessment (EIA) Socially Responsible Investors (SRIs)
The process of identifying, predicting, evaluating and mitigating the possible Investors who take account of wider concerns, such as social justice or the
impacts – both positive and negative – of development proposals prior to major environment, as well as financial considerations.
decisions being taken and commitments made.
Environmental management system (EMS)
A set of processes and practices that enable an organisation to reduce its
environmental impacts and increase its operating efficiency.
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74 Glossary
Responsibility: our non-stop approach
Corporate Responsibility Report 2010
About us Our environment Our people Our marketplace Our communities Our performance
Contact us
Land Securities would be pleased to receive
your feedback or comments on any of the
information contained in this report.
Melissa Winsor
Corporate Communications Department
Land Securities Group PLC
5 Strand
London
WC2N 5AF
Tel: +44 (0)20 7413 9000
Email: corporate.responsibility@landsecurities.com
www.landsecurities.com
Copywriting, web design and production by Flag www.flag.co.uk
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75 Contact us