RVBA-DLN▲Listed

Derwent London

Real Estate & REITs·Office

DLN (LSE)·London·GB

Verified credentials

PAS 2060 Carbon NeutralPAS 20602025SBTi Validated1.5°CCDP Listed

Company website

Website

Home - Derwent London

Derwent London is a British-based property investment and development business. It is headquartered in London and is a constituent of the FTSE 250 Index.

derwentlondon.com ↗

Decarbonisation trajectory · all scopes

Scope 1 + 2· base 2022 · 3k tCO2eScope 3· base 2020 · 8k tCO2e

Headline intensities

Reporting year 2025·Values in USD ($)· normalised from GBP at FY2025 avg rate

Peer cohort: Real Estate & REITs · lower is better

Revenue intensity

Carbon / $m revenue

67.9tCO2e / $m

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

Top quartile

better than 75% of peers

best 67.9n=2 peersworst 235

Operational intensity

Carbon / $m OpEx

—tCO2e / $m

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

no peer comparison yet

Economic intensity

Carbon / $m EVIC

—tCO2e / $m

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

no peer comparison yet

Asset intensity

Carbon / $m PP&E + leased

405tCO2e / $m

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Top quartile

better than 75% of peers

best 405n=2 peersworst 4.3k

Asset intensity (full)

Carbon / $m PP&E + leased S3

—tCO2e / $m

Carbon per million dollars of physical infrastructure — PP&E plus leased real-estate, including upstream and downstream leased emissions (Scope 3 categories 8 + 13). The most complete view of physical-asset carbon intensity, relevant for REITs and infrastructure-heavy firms.

no peer comparison yet

Climate action evidence

2 records · 2 sources

Carbon credits retired

18,189 tCO2e

1 retirement · FY2022–2022 · third-party verified

By credit quality

Nature-based removals18,189 tCO2e(100%)

Retirement records(top 1 by volume of 1)

2022 GreenTrees ACRE (Advanced Carbon Restored Ecosystem) · acr18,189 tCO2e

Renewable electricity

100 %

Self-reported renewable electricity share, FY2025

RE100 member

Joined 2019 · target 2020

Sources

· berkeley_voluntary_registry
· RE100

Registry retirements are direct evidence; commitments are forward-looking pledges. EPA snapshot covers FY2019–FY2020.

Targets

Near-term

1 target

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2	2022	2030	−42%	1.5°C	−31.2% reductionof −42% target · 74% there	On track

Long-term

1 target

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2 + 3	2022	2040	−90%	1.5°C	−15.3% reductionof −90% target · 17% there	On track

Net zero

1 target

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2 + 3	2022	2040	—	1.5°C	absolute-value target	—

Progress · absolute tCO2e

Scope 1 + 2 trajectory vs target

Scope 1 + 2 · 42% by 2030 · 1.5°C

ActualLinear1.5°C

Scope 3 trajectory

ActualLinear1.5°C

No target available for this scope.

Latest news· last 5 of 42

full news log →

CEO Paul Williams to retire after 38 years
On 22 January 2026, Paul Williams announced his retirement as Chief Executive and Director. He will remain in role until successor is appointed. Executive Director Nigel George also stepping down 31 March 2026.
2026
Lochfauld Solar Park nearing completion
Construction of c.100-acre, 18.4 MW solar park at Lochfauld site in Scotland is nearing completion with all PV panels installed. Energisation expected mid-2026. Expected to generate c.40% of London managed portfolio's electricity requirements.
2025
Updated Net Zero Carbon Pathway with new long-term targets
Published updated Net Zero Carbon Pathway in December 2025, introducing 'nature and resilience' as a fifth pillar and adding longer-term targets including 90% absolute Scope 1, 2 and 3 GHG emissions reduction by 2040 from 2022 baseline. Near-term commitment to reduce absolute Scope 1 and 2 GHG emissions by 42% by 2030 from 2022 baseline.
2025
UK government 2025 carbon conversion factors applied
The Government's 2025 carbon conversion factors were released in early July. Electricity factors are 15% lower compared to 2024 as further progress has been made decarbonising the UK's electricity grid. Applying these factors to 2025 consumption resulted in a 16% reduction in location-based operational GHG emissions.
2025
Decision not to pursue further upstream supply chain carbon emissions mapping
The decision was taken not to pursue further upstream supply chain carbon emissions mapping at this stage, despite previously being a 2025 priority to review and expand material Scope 3 inventory elements.
2025

Latest reporting year· 6 earlier years on Data-by-year tab

all years + ratios →

2026

reporting year

Financials

Revenue—

OpEx—

FTE—

Market cap (FY-end)—

Climate

Scope 1—

Scope 2 (market)—

Scope 2 (location)—

Scope 3 total—

Source documents· FY2025· 5 earlier docs on Data-by-year tab

all documents →

annual report2025

via jina search · 8.5 MB

extractedOPEN PDF ↗