Savills

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.

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.

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?

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.

Carbon per FTE (full-time-equivalent employee) — the diagnostic measure for people-leveraged businesses where headcount, not capital, drives delivery. Captures the office, energy and travel footprint per person.

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Savills is increasing renewable electricity procurement through certified green tariffs: UK 88% of office electricity, CEME 88%, Savills IM 74%, Asia Pacific 24%, and a single Chicago office in North America. Total renewable share of electricity rose to 57% in 2025 from 48% in 2024. Target is 100% renewable electricity by 2030 for offices where available. Also investing in LED retrofits — UK 66% LED coverage, North America 72%, CEME 85%.

Savills' Net Zero Transition Plan emphasises absolute emissions reductions rather than offsetting. A shadow internal price on carbon is under consideration; for TCFD costing purposes an assumed carbon offset cost of £150 per tonne CO2e at 2030 is used. The Group does not yet disclose a removals portfolio (DAC/BECCS/biochar) — offsets are treated as a residual mitigation tool against the 2030/2040 Net Zero targets validated by SBTi.

• Office energy efficiency and LED retrofits

  Direct operational emissions (Scope 1&2) are addressed via energy audits, LED lighting retrofits, building management system optimisation and 110 Green Building certifications at Savills office locations. Scope 1&2 emissions reduced 37.4% vs 2019 baseline, on track for the 72% by 2030 SBTi target.

• EV transition for company cars and reduced business travel

  Savills is transitioning owned and leased company cars from petrol/diesel to electric vehicles, particularly in Asia Pacific. Scope 3 Category 6 business travel emissions were 11,392 tCO2e in 2025. An EV salary sacrifice scheme with free charging point installation and cycle-to-work scheme address employee commuting (Cat 7: 34,887 tCO2e — the largest non-IM Scope 3 category).

• Fleet electrification by end of 2027

  Company vehicles targeted to be fully electric by the end of 2027. Current EV share is 37%. Employees also offered an EV salary sacrifice scheme (launched 2024 with free home charging point installation) and cycle to work scheme to encourage low-carbon commutes.

• Office energy efficiency and decarbonisation surveys

  Prioritising energy saving and efficiency: 2,500 desks transitioned from dual to single curved monitors with plug-in laptops, reducing per-desk energy consumption by 46%. Commissioned 50 decarbonisation surveys across the office portfolio. AMR meters being installed across offices with completion expected in 2025. Recent Guildford refurbishment included loft insulation, double-glazing, LED lighting on PIR sensors.

• Business travel reduction via sustainable travel hierarchy

  Business Travel Policy follows a sustainable travel hierarchy prioritising walking, public transport and car sharing over flights, communicated to divisions through annual sustainability objectives. Scope 3 business travel emissions fell 29% YoY to 3,061 tCO2e in 2024.

• Green building certifications across occupied offices

  84 Green Building certifications now held at office locations worldwide, covering BREEAM, WELL, LEED, Energy Star and equivalents. ISO14001 extension in UK certified a further 9 offices (112 offices and 10 divisions fully certified). ISO14001 also in place in Poland, Ireland; Spain Arquitectura business achieved ISO14001 and rolling out across business with ISO50001, ISO9001, ISO27001.

• Green lease provisions in new and renewed leases

  Committed to including green lease provisions in material new office leases and renewals whenever possible. Successful in incorporating several improvements towards decarbonisation efforts through this process in 2024. All new office leases or extensions require sign-off from a Sustainability perspective as well as financial.

• Fleet electrification

  Transitioning company-owned and leased vehicles from petrol/diesel to EV where infrastructure allows. In CEME 11% (51 of 448) are EV and 42% are EV/hybrid; UK 37% of vehicles are EV; Australia, New Zealand, Korea and Taiwan use mostly hybrid vehicles; Singapore ~40% of leased vehicles are EV; Savills IM 14% leased vehicles EV. North America has no company-owned/leased vehicles. UK employee EV purchase benefit scheme extended to full employee base.

• Office energy efficiency – LED lighting rollout and energy audits

  LED lighting coverage progressing across portfolio: UK lighting surveys underway across 50 offices with LED requirement built into fit-out guidance; Savills IM estimates 64% of office space uses LEDs; North America 62% of total office space; 8 of 12 Asia Pacific countries use 100% LED in main offices; CEME 79% of occupied floor area estimated to have LED coverage. Seven Savills IM offices completed Net Zero Carbon audits during 2024.

• Behavioural change and sustainability training

  PC standby energy cards rolled out across London, Wimborne, Glasgow, Edinburgh, Perth and Winchester offices. Launched Sustainability Resources Hub for all staff with modules on corporate sustainability, building certifications and net zero — 34% of employees trained in sustainability in 2023. Network of 150 Sustainability Enablers cascades messaging across offices.

• LED lighting and energy efficiency in occupied offices

  22 of 38 CEME offices now have full LED solutions (80% of occupied floor area, up from 17 in 2022). 9 of 12 Asia Pacific countries close to 100% LED. 87% of North America office space now in accredited energy-efficient buildings. UK installed 41 Automatic Meter Reading meters in 2023 covering c.40% of office portfolio.

• Company fleet electrification

  In CEME, EV proportion now 10% and hybrid 30% of vehicle fleet. Fuel vehicles decreased 13% in 2023. Savills committed to transitioning all company and leased cars away from petrol and diesel to low emission vehicles prior to 2028.

• Business travel reduction policy

  UK launched a new Business Travel Policy integrated within Savills UK sustainability targets. China has green travel guidance focused on using high-speed train instead of planes where appropriate. Business travel emissions were 10,127 tCO2e in 2023 (Scope 3 cat 6).

• Office energy efficiency and IT infrastructure

  Benchmarked office energy in 2023 and audited the 6 highest energy-intensity offices. Removed 1,700 desk telephones replaced with Teams Voice (saving energy equivalent to powering 4 homes per year), and continued transition from PCs to plug-in laptops reducing per-desk consumption by 46%. Installed 46 smart electricity/gas meters across UK office space.

• Fleet and business travel

  UK Business Travel Policy follows a sustainable travel hierarchy promoting lower-carbon transport. Savills continues to offer Cycle to Work and Electric Vehicle (EV) schemes for staff.

• Circular fit-out and waste reduction

  Office fit-out guide embeds circular economy principles — reused chairs and desk bases at Reading office move; donated £10,000 of old furniture to 13 schools, 1 scouts org and 1 local charity. ISO 14001 EMS retained across 107 offices and 10 divisions. Targets include 75% waste recycled and 25% paper reduction vs 2019 by 2023.

• Office energy efficiency & IT hardware optimisation

  Savills UK conducted 9 detailed, 33 high-level and 112 desk-based energy audits across its office portfolio in 2022. It transitioned 1,126 desks from PC+two-screen setups to single-screen + plug-in laptops, cutting energy use at those desks by 46%. Timeclocks installed on 81 shop-front offices, comms-room cooling temperatures optimised, and an Automatic Meter Read (AMR) project launched for real-time monitoring.

• Business travel & sustainable travel hierarchy

  A sustainable travel hierarchy has been integrated into the Savills UK Travel Policy, with employees offered Cycle to Work and EV schemes. Scope 3 emissions (the firm's largest scope) are disclosed at PLC level rather than UK level.

• Company fleet electrification by 2030

  Savills UK plans to transition away from internal combustion engine company-owned vehicles as it approaches its 2030 operational net zero target. The Cambridge office already operates electric pool cars for viewings, and Cycle to Work and EV employee schemes are in place.

• Office energy efficiency — lighting timers and IT power management

  Display lighting equipment is being upgraded with automatic timers across UK sites. Energy-saving policies have been installed on 9,485 IT devices. 108 offices hold ISO 14001 certification with externally audited environmental management plans. Scope 1 & 2 emissions fell 44.5% vs 2018 baseline, 11.8% vs 2020, to 1,128 tCO2e in 2021.

• Business travel reduction (grey fleet)

  Scope 1 covers fuel combustion in offices plus Savills UK owned/leased vehicle business travel ('grey fleet'). The firm reports 'considerable reductions in business travel' with many meetings remaining virtual post-COVID. Scope 1 fell from 643 tCO2e (2018) to 390 tCO2e (2021).

• Paper consumption — 71% reduction vs 2019

  Committed to 25% reduction in paper consumption by 2023 vs 2019 baseline; exceeded with 71% reduction in 2021 (a further 6% vs 2020). Divisions are removing paper brochures and some have set targets to go fully paperless.

• Paper and resource use reduction

  Paper use reduced by approximately 65% in calendar year 2020 compared to 2019. The firm continues to focus on reducing general waste volume and maximising recycling, though recycling rates dipped in 2020 due to COVID hygiene/contamination protocols.

• Business travel reduction (company vehicles)

  Scope 1 emissions from Group-owned/leased vehicles and office fuel combustion fell from 643 tCO2e (2018) to 339 tCO2e (2020). Reported business travel emissions dropped from 133.86 tCO2e in 2019 to 27.00 tCO2e in 2020 (-79.8%), heavily influenced by COVID restrictions. The Norfolk office piloted commute-footprint tracking encouraging walking, running, cycling.

• Office energy efficiency and ISO 14001 certification

  The majority of UK offices are certified to ISO 14001. 31 offices invested in more efficient appliances and technology in 2020. Improvements include LED and motion-activated lighting. Total UK energy use fell from 11,071 MWh (2018) to 8,307 MWh (2020).

• Savills Earth client advisory — 651,500 MWh of renewables procured for clients

  Savills Earth sustainability consultancy launched 16 new service lines in 2025 and procured 651,500 MWh of renewable energy for clients, delivered 101 Net Zero advisory projects/pathways, 44 climate risk assessments, 69 CRREM assessments, 94 Fitwel/WELL certifications, 75 LEED assessments, 205 BREEAM in Use certifications, advised on planting 2.1 million trees and supported 19.5GW of renewable energy projects. The 'Savills Carbon Pioneer' tool was launched for rapid early-stage net zero asset assessments.

• Supplier engagement for purchased goods & services decarbonisation

  Cat 1 purchased goods (84,023 tCO2e — largest upstream category) is the focus of a supplier engagement programme. In 2025 Savills engaged with over 42% of corporate suppliers by spend (140 companies) via a third-party portal to share decarbonisation plans. SBTi target: 51.6% reduction in procurement emissions intensity per £m value added by 2030 from 2022 baseline. Currently 3.7% above baseline due to factor updates; verification of supplier data underway to incorporate actuals.

• Savills IM Assets Under Discretionary Management decarbonisation ('Manage to Green')

  Cat 15 financed emissions from Savills IM discretionary AUM (75,960 tCO2e in 2025) reduced 14% from 2024 and 18.2% from 2022 baseline (target: 51.6% reduction per sq m by 2030). 'Manage to Green' programmes such as Friedrichs-Carree in Stuttgart target 54% carbon and 60% operating cost reductions. Cloud-based HVAC optimisation has been the widest-spread initiative. Climate resilience assessments inform potential divestment of high physical-risk assets as last resort.

• Employee commuting decarbonisation

  Employee commuting is the largest scope 3 category at 9,847 tCO2e in 2024 (up 3% YoY). Addressed through EV salary sacrifice scheme with free home charging point installation, cycle-to-work scheme, and a car-sharing database initiated by Sustainability Enablers.

• Savills IM AUM decarbonisation – discretionary fund assets

  Scope 3 AUM emissions target: 51.6% reduction per m² GIA by 2030 from 2022 baseline. Performance: 14.5% reduction achieved (27.47 kg CO2e/m² vs 32.13 baseline). Net Zero Carbon audits underway at client fund and asset level. EU Taxonomy aligned adaptation plans being prepared for higher-risk assets. Toolkit being developed using Better Buildings Partnership guidance. Where adaptations not feasible, divestment is last-resort option.

• Supplier engagement on purchased goods and services

  Targeting purchased goods & services emissions via the Savills plc Responsible Supplier Charter, which establishes shared sustainability standards. In 2024 engaged a third-party supply chain partner to gather emissions data from key suppliers. SBTi target: reduce scope 3 purchased goods emissions by 51.6% per million GBP of value added by 2030 (vs. 2022 base year).

• Supplier engagement on Scope 3 purchased goods & services

  Corporate supply chain represents ~20% of Scope 3 emissions. Group Responsible Supplier Charter launched in November 2024. Engaging top suppliers by spend across Principal Businesses to sign up to third-party supplier portal and submit company carbon emissions. SBTi target to reduce Scope 3 GHG emissions from purchased goods and services by 51.6% per £m value added by 2030 from 2022 baseline; current performance is a 1.4% increase against this intensity metric.

• Green lease and green building certifications on occupied space

  All future office fit-outs follow sustainability fit-out guidelines (e.g. BREEAM refurbishment). New leases consistent with the Savills Green Lease Guide where possible. 10 of 38 CEME offices hold green building certifications with 4 more in progress. London HQ holds BREEAM certification; multiple regional offices hold LEED, WELL, BEAM Plus, CASBEE, NABERS, Green Mark certifications.

• Savills IM assets under management decarbonisation

  Savills IM AUM emissions of 133,421 tCO2e represent 56% of Scope 3. SBTi-validated target to reduce Scope 3 GHG from investments 51.6% per square meter by 2030 from 2022 baseline. Many fund assets are 'full repairing and insuring' leases, limiting direct intervention. Savills IM has set objective to collect actual energy data from 75% of AUM by 2025. Example: Cathedral Hill industrial estate retrofit delivered net zero operational emissions via PV panels, Tesla batteries, saving 100 tonnes CO2e/year.

• Sustainability consultancy revenue expansion (Savills Earth)

  Savills Earth advised on 19.3 GW of in-development and operational renewable energy projects, 2.3 GW of energy storage including 0.7 GW of hydrogen, and 0.78 GW of demand connections including EV charging. Provided 26 client sustainability strategies and acted as sustainability advisor on 22 further projects. Launched new service lines: Climate risk and resilience, Savills GreenFit, Savills Environmental Exchange, Grid Consultancy, Sustainable Master-planning.

• Purchased goods and services (Scope 3 Cat 1)

  Scope 3 emissions totalled 32,415 tCO2e in 2023, the largest emission source. SBTi-validated Scope 3 target: reduce purchased goods and services emissions 51.6% per £m value added by 2030 from a 2022 base year.

• Client advisory via Savills Earth (Net Zero Pathways)

  Savills Earth has issued Net Zero Pathway strategies for more than 1,100 client assets in 2022 and joined the UK Net Zero Carbon Buildings Task Group to standardise embodied and operational carbon metrics for the built environment. This is the firm's principal lever for influencing downstream/value-chain emissions in the real estate sector.

• Landlord-supplied energy in leased offices

  Some Savills UK offices are supplied by landlord-procured energy outside Savills' direct control. The firm is actively encouraging landlords to switch to green tariffs to help close the gap to its 100% green energy goal by end of 2023.

• Net zero buildings advisory and refurbishment promotion

  Savills advocates industry transformation through advisory work, promoting refurbishment over new development (highlighted at COP26 Cadworks events). Manchester office refurb diverted 99.47% of materials from landfill (saving 3,329 kgCO2e). Research paper 'Real Estate and the Carbon Challenge' published at COP26 estimates £330bn cost for UK residential decarbonisation to EPC C by 2035.

• Client advisory via Savills Earth — 23GW renewables advised

  Savills Earth brings together 100+ sustainability, energy and engineering specialists. In 2021 the energy team advised clients on 23GW of proposed and operational renewable energy capacity plus 1.1GW of demand capacity. Completed 23 BREEAM In-Use assessments, supported 8 new client ESG strategies, and managed 20+ GRESB submissions.

• Client sustainability advisory via Savills Earth

  The Savills Earth consultancy group, with 85+ environmental, social and energy consultants, advises clients on sustainability and decarbonisation. In 2020 they delivered a 2.6MW solar project for AEW, advised on the largest solar installation in Wales, helped Liverpool Council create a net-zero plan, supported 13 clients in GRESB benchmarking, and deployed SavIQ software to manage 99 properties quarterly across 6 clients.