STAKEHOLDER SURVEY 2010

Transcription

1 STAKEHOLDER SURVEY 2010 CORPORATE RESPONSIBILITY CONTENTS HOW WE DO BUSINESS KEY BUSINESS ISSUES KEY RESPONSIBILITY ISSUES

2 More than 90% of respondents rated us favourably In 2010, Ipsos MORI held telephone interviews on our behalf with more than 50 stakeholders from local and central government, Non-Governmental Organisations (NGOs) and Socially Responsible Investment (SRI) funds. We sought their feedback on a range of topics. This followed previous independent stakeholder surveys in 2004, 2005 and We are pleased to present some of the 2010 findings here. Find out more about what our stakeholders think: - Of us and how we do business - Are our key business issues - Are our key responsibility issues Unless otherwise stated, all results relate to our 2010 independent survey of more than 50 stakeholders from local and central government, Non-Governmental Organisations (NGOs) and Socially Responsible Investment (SRI) funds. britishland.com 1

3 WHAT DO OUR STAKEHOLDERS THINK OF US AND HOW WE DO BUSINESS? As shown in Figure 1 below, more than 90% of all respondents to our stakeholder survey rate us favourably, with over half rating us very favourably. Whilst we are pleased that this exceeds the approval rating for our peers, we recognise that the sample, which was largely identified through our contact base, was not neutral. We would welcome an industry-wide survey, in partnership with our peers, to reduce any bias. Fig. 1: How favourable or unfavourable is your overall opinion of each company?* BRITISH LAND COMPANY A COMPANY B COMPANY C COMPANY D % VERY FAVOURABLE MAINLY FAVOURABLE Almost 50% of respondents stated that their positive opinion of us was based on their experiences of working with us. 20% of respondents or more also commented stakeholder FEEDBACK on us doing a good job, being honourable, delivering quality developments and working well with the community. They have an ongoing commitment to the areas where they own properties. They value architectural design and environmental performance and they promote these. They understand the impact on the communities in which they work and are involved. Given that acting with honesty and having high-quality developments were identified as the most important issues for us and our peers in terms of reputation, we are particularly pleased that more than 90% of respondents agree that we act with honesty and encourage high-quality design. Moreover, all respondents agree UNFAVOURABLE *For this question, 42 respondents or more had heard of each company, with 52 respondents having heard of British Land that we are professional, with 96% also saying that we take a long-term view. Almost 80% of stakeholders rate our communications as fairly good or good, and almost 90% want to hear more about how we might address future sustainability challenges % rate us favourably I have worked with BRITISH LAND and have found them to be very professional and work with integrity. Continued britishland.com 2

4 WHAT DO OUR STAKEHOLDERS THINK OF US AND HOW WE DO BUSINESS? continued Focus on our customers In a separate survey of our customers, almost 90% of office occupiers state that our sustainability initiatives added value to their business. More than 40% of retail occupiers agree. FEEDBACK Focus on our employees Focus on local communities Similarly, more than 80% of our office occupiers rate our commitment to the environmental agenda as good or excellent (industry average: 6%). Almost 60% of our retail occupiers agree. British Land s sustainability initiatives add value to our business; they are hugely important to us. Their agenda is aligned with our own. Office occupier feedback Sustainability is very high on our agenda. British Land has a consistent focus on publications and research. They are more involved in sustainability than any of their peers. Retail occupier feedback In a separate survey of our Head Office team, 87% agree we address sustainability issues very well. In a separate survey of local contacts around three of our recent developments, more than 90% of participants rate satisfaction as very good. FEEDBACK British Land has always worked as part of the local community and supported local groups. British Land is a friend of the community. Local feedback, Regent s Place, London British Land is very easy to work with. They listened and took on board my concerns. Local feedback, The Beehive Centre, Cambridge There was a positive approach to the development process. Local feedback, Colmore Row, Birmingham britishland.com 3

5 What are our key business issues? As shown in Figure 2 below, across all respondents to our stakeholder survey, sustainability is seen as one of the top four business issues for us and our peers over the next few years. Amongst Socially Responsible Investment (SRI) analysts, sustainability is considered to be the most important business issue. Sustainability is becoming an increasingly important part our business. It is core to our corporate aim of building the best Real Estate Investment Trust (REIT) in Europe: Making sure we achieve high levels Fig. 2: What are the most important issues for the commercial property sector over the next few years (unprompted)? TOP MENTIONS % AVAILABILITY OF FINANCE ECONOMIC ENVIRONMENT ALL RESPONDENTS CHANGES TO THE PLANNING SYSTEM SRI ANALYSTS of efficiency and sustainability in all our buildings and developments is inherent in our brand and of increasing importance to our key stakeholders, including both current and potential occupiers. SUSTAINABILITY DEMAND COMING OUT OF THE RECESSION MARKET CYCLE STAYING IN BUSINESS SUSTAINABILITY IS CONSIDERED TO BE A KEY BUSINESS ISSUE Developing sustainable buildings: North East Quadrant, Regent s Place, London Continued britishland.com 4

6 What are our key business issues? continued As shown in Figure 3 below, more than 90% of respondents state that acting with honesty and having high-quality developments are important in how they judge property companies. This makes these the most important issues for us and our peers in terms of reputation. We are pleased that our stakeholders score us highly on these factors. Fig. 3: How important are the following when you judge a property company? ACTING WITH HONESTY AND INTEGRITY QUALITY OF DESIGNS AND DEVELOPMENTS TAKING A LONG-TERM VIEW FINANCIAL PERFORMANCE COMMITMENT TO ENVIRONMENTAL RESPONSIBILITY CONTRIBUTION TO LOCAL ECONOMIC GROWTH INNOVATION EXTREMELY IMPORTANT We aim to work in a responsible, reliable and honest way as individuals and as a company, consistently doing the best we can to deliver the right results for our stakeholders. We challenge the way things are done to deliver the best result and use our expertise and experience to make good decisions that stand the test of time. IMPORTANT 51 % ACTING WITH HONESTY AND INTERGRITY IS THE MOST IMPORTANT factor IN HOW COMPANIES ARE JUDGED britishland.com 5

7 What are our key responsibility issues? Amongst respondents to our stakeholder survey there is a near consensus on the importance of responsibility for commercial property companies, with 94% rating it very important and the remaining 6% rating it fairly important. More than 70% do not think that mere compliance with regulations and planning requirements is enough. our five focus areas are: Managing buildings efficiently Developing sustainable buildings Enhancing biodiversity Exceeding customers expectations Focusing on local actions Figure 4 below shows the priority sustainability issues identified by our stakeholders. These informed the selection of the five areas we are now focusing on through our corporate responsibility strategy. Other influences included feedback from our occupier survey and our employee survey, as well as consultation with experts on a range of issues, a review of best practice and benchmarking. Fig. 4: How important are the following issues for commercial property companies? IMPACTS ON THE ENVIRONMENT AND CLIMATE CHANGE NATURAL RESOURCE EFFICIENCY DEVELOPMENTS LIFETIME USE REGENERATION OF URBAN AREAS CONSULTING COMMUNITIES ON DEVELOPMENT HIGH-QUALITY PUBLIC SPACES % EXTREMELY IMPORTANT IMPORTANT % RATE RESPONSIBILITY AS VERY IMPORTANT Continued britishland.com 6

8 What are our key responsibility issues? continued As shown in Figure 5 below, most of our stakeholders rate us above average for each of these issues. Fig. 5: How do you rate British Land for each of the priority sustainability issues? IMPACTS ON THE ENVIRONMENT AND CLIMATE CHANGE NATURAL RESOURCE EFFICIENCY DEVELOPMENTS LIFETIME USE REGENERATION OF URBAN AREAS CONSULTING COMMUNITIES ON DEVELOPMENT HIGH-QUALITY PUBLIC SPACES % ABOVE AVERAGE BELOW AVERAGE Focus on our employees In a separate survey of our Head Office team, 70% state that it is very important Focus on our communities At several of our properties around the UK, we have received positive feedback from local schools and colleges on our collaborative biodiversity initiatives. These include local schoolchildren planting wildflower meadows at Fort Kinnaird and Glasgow Fort Shopping Parks in Scotland, and local agricultural trainees helping our volunteers to install an otter holt at Focus on our customers In a separate survey of our customers, the three top three environmental issues identified by our office occupiers (in order of priority) are energy efficiency, waste recycling and low-carbon energy sources. Whilst our retail occupiers stated their priority environmental issues were energy efficiency, waste recycling and water use. We have also received positive feedback from many of our occupiers on our biodiversity initiatives, for instance at British Land is actively engaged to address sustainability issues. Teesside Shopping Park in Stockton-on- Tees. In the City of London, where our Broadgate estate is located, almost 1,000 people voted for their favourite insect hotel in Beyond the Hive, a biodiversity competition which we delivered in partnership with the City of London Corporation. 20 Triton Street at Regent s Place we are working with occupier Lend Lease to retrofit a further 2,700 sq ft of green roof. At 155 Bishopsgate at Broadgate, we recently helped occupier Baring Asset Management to retrofit a green roof. In response to the level of interest from occupiers, local people and other key stakeholders, we have decided to increase our biodiversity efforts British Land s sustainability initiatives have helped to reduce our energy bills. Office occupier feedback britishland.com 7