REG - Great Portland Ests. - GPE reveals Circularity Scores

Great Portland EstatesAnnouncement

08/07/2025 07:00

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RNS Number : 0728Q  Great Portland Estates PLC  08 July 2025

8 July 2025

 

 

GPE reveals Circularity Scores for its London developments

 

In 2024, GPE updated its Roadmap to Net Zero, setting the target to reduce the
embodied carbon of its developments and refurbishments by 52% by 2030, and
reaching net zero carbon by 2040. One innovative approach GPE has deployed for
reducing the embodied carbon is by focusing on the circular economy and
minimising the quantity of virgin materials used in its schemes.  To measure
our progress in reuse of materials, six months ago we launched our Circularity
Score. Following this launch, GPE today announces progress against the
implementation of the Circularity Score and the performance of each scheme
against our target of 40% for applicable developments commencing after 1 April
2025.

 

GPE has delivered more than 2 million sq ft of highly sustainable space in
London over the past decade to an ever more knowledgeable and discerning
customer base. Our customers tell us that sustainability is an integral
component of premium office space. This is evidenced by the pre-let of 2
Aldermanbury Square EC2 to Clifford Chance and CD&R at 30 Duke Street St
James's, SW1. Conversations with customers now regularly focus on aspects of
sustainability such as the reduction of embodied carbon, the preference to
reuse existing materials rather than using virgin materials and the increased
integration of circularity principles.

 

Improving the circularity of our buildings is now an integral part of our
approach to delivering on our sustainability aspirations. With the help of our
Circular Economy Focus Group we have now:

·      Refined the methodology for measuring circularity to improve
consistency across all projects

·      Incorporated circularity as an integral part of our project brief

·      Found that as at May 2025 on average the circularity of GPEs
onsite schemes is 47% with its near-term schemes averaging a score of 65%,
well ahead of its 40% target

 (see Appendix for individual scheme scores for those schemes starting after
April 2025)

 

It is inevitable that these scores will vary based on the nature of our
activities, whether refurbishment, extension or new build; the stage of our
projects through planning, into design and construction; and, the evolution of
the industry as data availability and accuracy improves. We continue to seek
ways to increase circularity, particularly where we are currently falling
short of our target. By disclosing our progress we hope to continue to
stimulate further debate in the industry and drive rapid innovation.

 

Janine Cole, Sustainability & Social Impact Director, said: "The forum
we've established has sparked lively and insightful discussions around the
challenges we face, the practical solutions available in today's market, and
how GPE as a developer, can help drive innovation across the industry. The
release of our Circularity Scores marks a significant milestone in this
journey. We hope it will continue to fuel meaningful debate around both the
opportunities and challenges of applying circular economy principles in
real-world development. We thank our Circular Economy Focus Group for its
collaboration to date and look forward to continuing the conversations over
the coming months."

 

 

 Great Portland Estates plc                                                                                                                                                                                +44  (0)  20  7647   3000
 Toby Courtauld, Chief Executive
 Nick Sanderson, Chief Financial & Operating Officer
 Janine Cole, Sustainability & Social Impact Director

 Frank Blande, Senior Sustainability Lead

 FGS Global
 James                                                                                                                                                                                                     +44  (0)  20  7251  3801
 Murgatroyd
 Gordon
 Simpson

 

For further information see www.gpe.co.uk or follow us on X at @GPE_London

LEI Number: 213800JMEDD2Q4N1MC42

 

Appendix - Circularity Scores for those developments currently within scope of
the target

Circularity Table(1)

 Project                            Retained %  Reused %  Recycled %  Circularity Score %  Commencement Date
 Soho Square Estate  New Build      25          -         6           31                   Q4 2025
 St. Thomas Yard     Refurbishment  57          1         10          68                   Q2 2026
 The Courtyard       Refurbishment  69          2         4           75                   Q3 2025
 Whittington House   Refurbishment  84          1         1           86                   Q4 2025
 Near-term Average                                                    65

 

(1) The GPE Circularity Score includes the mass of the sub- and
super-structure, the façade and MEP elements of the building. The Score is
the equally weighted percentage of those elements that come from retained and
reused sources, as well as the recycled content portion of new materials. More
detail on our approach can be found in our Annual Report and Accounts:
www.gpe.co.uk/investors (http://www.gpe.co.uk/investors) and our
Sustainability Performance Tables:

(2) GPE's Circular Economy Focus Group; is made up of valued partners from
architects to engineers, and main contractors to sustainability consultants.

 

 

 

 

 

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