Our Shared Purpose
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At Gerald Eve, we have a long-standing culture of acting responsibly and inclusively. We understand that our industry – and indeed our world – is evolving, and that it has never been more important commit to leading by example.
By placing sustainable practices at the centre of what we do, and supporting our clients to do so, we can contribute to mitigating climate impacts, safeguarding natural resources, promoting economic and social well-being, and building a resilient future for all.
Our business is in transition towards becoming Newmark, a top global commercial real estate services company. This not only creates significant growth opportunities for Gerald Eve’s clients and our people but also lends a larger platform for us to drive positive impact at scale. We understand that change will not happen in isolation, and by the very nature of our work, it is our responsibility to lead and support our clients on their own journeys.
Within this report we set out our progress and ambitions moving forward against the three pillars of Our Shared Purpose: our Carbon Impact, our People and Culture, and our Clients and Communities.
Whilst we haven’t fully launched Our Shared Purpose yet, we have chosen to report on our progress over the last year against the three pillars defined within our new framework. Our business is in transition – as we move towards becoming Newmark – and we have strong growth ambitions. We understand that our growth must happen sustainably, which is why we have chosen to update our business approach.
Therefore, our new framework, Our Shared Purpose, is designed to be a living document that evolves and adapts as we evolve. Within this document we are setting out our efforts during the most recent reporting period running from 1 April 2023 to 31 March 2024 and signpost our direction of travel in the near-term. Our full targets and ambitions against Our Shared Purpose will be launched during the reporting year 2024/25.
Download our Annual Impact Report 2024“Our thinking around Sustainability has developed and I am proud that through our updated framework, Our Shared Purpose, we set out how we ensure that we remain ambitious in delivering a positive impact for our environment, our people, our clients and communities alike.”
Simon Prichard, Senior Partner
1%
reduction in absolute energy consumption in our offices compared to last year
8%
reduction from business as usual
1st
year that we are reporting an extended Scope 3 emissions boundary
100%
of our directly procured electricity for our offices from green tariffs
PERFORMANCE AGAINST OUR PREVIOUS BOUNDARY
In March 2021, we made a commitment to become carbon negative for all our operations and business travel by 2030. In FY22/23 we became carbon neutral across our business operations and associated travel from corporate mileage. Our previous reporting boundary has included our Scope 1 and 2 emissions from energy consumed in our office operations and Scope 3 emissions from business travel in employee owned vehicles. Our carbon targets have been based on this boundary.
We previously included emissions from gas consumed in our office operations within our Scope 2 emissions as we categorised this as purchased energy from our landlords in leased offices. However, going forward we will be including our emissions from gas consumed in our operations under Scope 1, due to our operational control reporting approach. This aligns with the guidance provided by the GHG protocol, which states that direct emissions emitted from on-site energy consumption of fossil fuel sources should be included within Scope 1.
Find out more about our carbon impact
Since we first launched our Climate Change Commitment, the sustainability landscape has evolved, and so have we. We are now in a position where we can extend our boundary and we intend to to baseline our entire carbon footprint for our Scope 3 Greenhouse Gas emissions, in line with the GHG Protocol.
This exercise is already underway, and we are confident that once we have a better understanding our entire footprint, we can set ambitious, meaningful reduction targets over the next reporting period.
FOSTERING A GENUINELY INCLUSIVE CULTURE
How we treat our people through career development, training, reward, policies, benefits, wellbeing, Health & Safety, and our working environment are all closely linked with each other, with inclusivity as a golden thread that runs through them all.
Our people are our business; how we work together and treat each other impacts the outcomes for ourselves, our colleagues, our clients and communities. It is therefore an essential pillar of Our Shared Purpose.
Find out more about our people and culture
“We recognise that our actions as an employer impact our employees, their families, our clients, and the communities within which we work and operate. We strive to have a long-term positive impact for everyone"
Helen Foley, HR Director
Over the last year we…
Held Sustainability Roundtables with all of our service lines to identify where further sustainability-related training and upskilling is needed to ensure we are providing proactive, innovative advice to clients.
Hired a Sustainability Manager to provide dedicated support and advice to our teams and clients.
Joined the Better Building Partnership Managing Agents Partnership to collaborate with our peers to drive sustainability within the commercial Real Estate industry.
In early 2024, we restructured our companywide Green Ambassadors programme to create separate working groups around a number of topics, identified as the most important to our clients. We have found these working groups to be effective in driving collaboration and enabling knowledge sharing between colleagues from different teams.
Find out more about our client and communities
Over the last year we…
Positively impacting the world around us has always been a key priority for us. At Gerald Eve, we have a dedicated Charities Committee, which is formed of individuals across the firm, in all of our regional offices, to ensure that we have a diverse mix of ideas and viewpoints and can select partners and initiatives that are relevant across all of our UK operations.
Planning & Development
20 Ropemaker Street
The challenge at this site was to deliver a major step‑change in the regeneration of the area by delivering one of Islington’s largest office buildings that fully realises the social, economic and environmental redevelopment potential of the site, which previously contained poor quality and dated office floorspace.
Working with Make Architects, we used our in-depth knowledge and understanding of Islington’s policies and political objectives, to develop a robust narrative and planning assessment. This enabled the team to promote a new, innovative and carefully designed tall building for London’s skyline which substantially increases the office floorspace at the site, delivering flexible and small/micro workspace, while promoting and supporting the wellbeing of its users by creating a series of terraces and balconies so that outdoor amenity space is available throughout the building. The proposals also sought to revitalise the street scene at the site to provide a welcoming, vibrant and reactivated public realm to the prominent junction of Ropemaker Street and Finsbury Pavement.
We secured planning permission from Islington Council and sign off from the Mayor of London for this dynamic office building, which will bring over 45,000 square meters of new office space to the City fringe in flexible, adaptable floorplates. The scheme completed in late 2023 and has been awarded a BREEAM ‘Outstanding’ rating, which recognises a high standard of sustainability and wellbeing for exemplary developments. It is also thought to be the largest‑ever BREEAM 2018 commercial project to secure this accreditation rating at design stage.
Industrial & Logistics
Boreal IM
Gerald Eve is advising Boreal IM on the disposal of a 40,125 sq. ft. warehouse in Park Royal. Following their acquisition in 2022, Gerald Eve has supported Boreal in their extensive refurbishment of the warehouse to create a best in class, Grade A building incorporating numerous ESG initiatives.
The refurbishment achieved an EPC A+ rating and benefits from additional ESG measures such as a green living wall, EV chargers, LED lighting and rooftop photovoltaic (PV) panels. The PV system is expected to produce a 60-tonne reduction in CO2 emissions in year one, equivalent to planting 2,869 trees. The green living wall offers 120m2 of south-east facing living wall, producing 204 kg of oxygen, equivalent to 6 trees in terms of carbon sequestration.
Building Consultancy
SEGRO
We have undertaken EPC Uprating Assessments for 78 of SEGRO’s assets in the Greater London area totalling 3,000,000 sq ft of industrial space, advising on circa £17.5mn of EPC improvement works. Our EPC Uprating Assessments initially establish current baseline EPC ratings, and then create a digital twin of the buildings, which are modelled to run different improvement works scenarios. We then establish the most practical ways to improve the EPC ratings to raise asset value, ensure that the properties are compliant with current regulations, and comply with predicted changes to the regulations to avoid sub-standard and potentially stranded assets.
Our EPC Uprating Assessments involve the following services:
– Site inspection of each property to establish the construction and engineering services present and record data to model each property.
– Create a digital twin of each individual unit using EPC software which would establish the current/baseline EPC rating.
– Use the digital twin to model each unit to establish the most practical ways of improving the EPC ratings for each unit on a band-by-band basis to achieve target EPC ratings.
– Provide individual EPC assessment reports for each unit as an appendix and an overarching report covering all properties to present our findings. These include budget costs and feasibility of undertaking the EPC improvement works, strategic approach to the improvement works and guidance on exemptions and potential financial penalties of sub-standard properties.
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