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Landsec

Real Estate & REITs·Diversified

LAND (LSE)·London·GB

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SBTi Validated1.5°CCDP Listed

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Home | Landsec

Explore how we identify and shape places that create opportunity, enhance quality of life, and bring joy to the people connected to them. Find available space within our UK-leadin…

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Decarbonisation trajectory · all scopes

Scope 1 + 2· base 2020 · 13k tCO2eScope 3· base 2020 · 235k tCO2e

No targets available; showing actuals against baseline.

Headline intensities

Reporting year 2021·Values in USD ($)

Peer cohort: Real Estate & REITs · lower is better

Revenue intensity

Carbon / $m revenue

2.9ktCO2e / $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 0% of peers

best 180n=7 peersworst 2.9k

Operational intensity

Carbon / $m OpEx

4.9ktCO2e / $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.

Bottom quartile

better than 0% of peers

best 215n=7 peersworst 4.9k

Economic intensity

Carbon / $m EVIC

126tCO2e / $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?

Bottom quartile

better than 0% of peers

best 9.76n=7 peersworst 126

Asset intensity

Carbon / $m PP&E + leased

6.2ktCO2e / $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.

Bottom quartile

better than 18% of peers

best 99.4n=7 peersworst 6.7k

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

50 records · 2 sources

Carbon credits retired

369,482 tCO2e

49 retirements · FYNaN–NaN · third-party verified

By credit quality

Nature-based removals150 tCO2e(0%)
Avoidance / reductions310,434 tCO2e(84%)
Unclassified58,898 tCO2e(16%)

Retirement records(top 8 by volume of 49)

2016 Rio Grande Valley Landfill · car68,061 tCO2e
2017 Erie County Landfill · car46,817 tCO2e
2017 Rio Grande Valley Landfill · car44,191 tCO2e
2015 Rio Grande Valley Landfill · car36,291 tCO2e
2017 Erie County Landfill · car31,942 tCO2e
2009 Granger Decatur Landfill Gas Destruction Project · car26,000 tCO2e
2018 Erie County Landfill · car21,349 tCO2e
2009 Erie County Landfill · car14,962 tCO2e

+ 41 more retirements not shown

Renewable electricity

100 %

Self-reported renewable electricity share, FY2023

RE100 member

Joined 2015 · target 2016

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 + 3Absolute	2020	2030	−47%	1.5°C	−14.0% reductionof −47% target · 30% there	On track

Long-term

1 target

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2 + 3Absolute	2020	2040	−90%	1.5°C	−14.0% reductionof −90% target · 16% there	On track

Net zero

1 target

Scope	Base	Target	Reduction	Alignment	Progress	Status
Scope 1 + 2 + 3	2020	2040	—	1.5°C	absolute-value target	—

Progress · absolute tCO2e

Scope 1 + 2 trajectory

ActualLinear1.5°C

No target available for this scope.

Scope 3 trajectory

ActualLinear1.5°C

No target available for this scope.

Latest news· last 5 of 45

full news log →

Acquired 92% stake in Liverpool ONE for £490m
Landsec acquired a 92% stake in Liverpool ONE for £490m (£455m initial), delivering 7.5% income return with 10%+ IRR. Part of £629m of major retail acquisitions during the year.
2025
Strategy to shift portfolio from offices to residential
Strategic objective to release £2bn of capital from offices to fund residential by FY30, scale back office-led development by at least half, and establish £2bn+ residential platform.
2025
Acquired residual 25% stake in MediaCity
Took full control of MediaCity estate in October 2024 by acquiring residual 25% stake for £84m. Allocation for 2,700 homes at Phase 2 land.
2025
£350m 10-year green bond issued
Refinanced £2.25bn RCF and issued £350m 10-year green bond during FY25.
2025
Sold £655m of assets including hotel portfolio
Sold £496m during year (£400m hotel portfolio + £96m other non-core) and £159m of retail parks since year-end. Phased exit from non-core assets.
2025