Managing our Risk
Managing our own Carbon Emissions
We have set long-term targets to reduce carbon emissions and our use of natural resources in order to minimise our contribution to climate change and ensure the longevity of our operations in both the UK and France. In doing so, we aim to maintain financial efficiency by reducing operational costs for the Company and its customers and by minimising the future financial impact of carbon taxation.
Our policy, and its related targets, procedures and processes also respond to legislation, notably: the Climate Change Act 2008 (UK); the Grenelle de l'environnement (France) and the European Performance of Buildings Directive.
To develop this policy, Hammerson conducted a climate change risk assessment, which identified three key physical risks to property from climate change:
- Overheating - ventilation, temperature
- Flooding - river, sea and rainfall
Developing our Understanding
During 2014 we will be carrying out a climate change risk analysis to understand where our key exposures lie. This will support the development of a climate change strategy to mitigate these risks for the business.