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British Land

Real Estate & REITs·Diversified

BLND (LSE)·London·GB

Verified credentials

SBTi Validated1.5°CCDP Listed

Company website

Website

British Land

britishland.com ↗

Decarbonisation trajectory · all scopes

Scope 1 + 2· base 2020 · 8k tCO2eScope 3· base 2020 · 161k tCO2e

Headline intensities

Reporting year 2024·Values in USD ($)

Peer cohort: Real Estate & REITs · lower is better

Revenue intensity

Carbon / $m revenue

857tCO2e / $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.

Bottom quartile

better than 25% of peers

best 81.4n=3 peersworst 857

Operational intensity

Carbon / $m OpEx

656tCO2e / $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

119tCO2e / $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

10.1ktCO2e / $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.

Above median

better than 50% of peers

best 433n=3 peersworst 17.0k

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

1 record · 1 source

Carbon credits retired

No retirement evidence on file (third-party or self-reported).

Renewable electricity

94 %

Self-reported renewable electricity share, FY2024

RE100 member

Joined 2016 · target 2030

Sources

· RE100

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

Targets

Near-term

2 targets

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2Absolute	2020	2030	−51%	1.5°C	−1.8% reductionof −51% target · 4% there	Off track
Scope 3Intensity	2020	2030	−55%		intensity — not tracked vs absolute	—

Progress · absolute tCO2e

Scope 1 + 2 trajectory vs target

Scope 1 + 2 · 51% 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 54

full news log →

Started reporting embodied carbon in-use (RICS B1-B5)
In FY24, British Land began reporting Scope 3 Category 1 emissions resulting from a building's maintenance, repair and refurbishment activities (RICS modules B1-B5), expanding the scope of disclosed emissions.
2024
SBTi targets being updated to align with Buildings sector guidance
British Land is in the process of updating its existing SBTi targets to set longer-term targets aligned with the SBTi Buildings sector guidance once published. The internal 2030 targets remain unchanged in the interim.
2024
Limited assurance maintained over Scope 1, 2 and 3 emissions
Third-party limited assurance under ISAE3000 for Scope 1, 2 and Scope 3 emissions covering 100% of reported emissions. Annual process.
2024
5% annual water intensity reduction targets set for offices and retail
New annual targets set in FY24 for 5% improvement in water consumption intensity at managed offices (12.49 → 11.87 m3/FTE) and at managed retail sites (9.88 → 9.39 m3/footfall) by FY25.
2024
Updated emission factors to BEIS 2023
Change in BEIS electricity and gas grid emission factors between 2022 and 2023 factor sets resulted in a 1.64% (~324 tCO2e) decrease in Scope 1+2 emissions vs prior year.
2024