Baseline

Our net zero target has been developed in line with the parameters of the Estate’s reach and influence. With £5,104m of gross property value1, Cadogan’s assets include retail, residential and commercial property. The target boundaries are set by the limitations of geography and function, including all assets under management2 and direct operations, along with upstream/downstream impacts that can be influenced by Cadogan3

A holistic assessment of emissions for the year to 31 December 2019 resulted in a carbon footprint of 35,664 tCO2e - with 88% of our impact being Scope 3 emissions4 as indicated in Figure 2.

Embodied carbon (total emissions generated in creating a building or asset) constituted 16% of the baseline footprint, resulting from three major developments: 196-222 King’s Road mixed-use scheme, 1 Sloane Gardens hotel, 115-116 Sloane Street hotel, as well as commercial white-boxing and over 24 property refurbishments.

Occupier operations also have a substantial impact, with 58% of the baseline footprint coming from commercial and residential portfolios. Energy use in these spaces is outside direct control, so working in partnership with occupiers and stakeholders across the Estate to facilitate decarbonisation is key.

35,664

88% of baseline emissions fall into scope 3

16% of baseline emissions come from developments

1 Cadogan Estates Annual Report and Accounts 2022

2 Excluding non-managed long leasehold properties, where leases typically last over 100 years

3 For further detail see Appendix B

4 Scope 3 emissions are indirect emissions from an organisation’s value chain

58% of baseline emissions come from occupier activity

2019 BASELINE FOOTPRINT

0.2% 0.002%