Landsec has set itself a target of generating £25m of social value by 2025.
The REIT, which announced its full-year results this morning, set aside a section of its announcement to the market to outline its investment in social impact projects and commitment to reducing the impact of the built environment on the planet.
The group this year, through its various partnership with charities such as Bounce Back and NJC, has helped more than 1,200 long-term unemployed and ex-offenders back into work, hitting its long-term target a year early.
Chief executive Rob Noel said: “We aim to be a force for good in society because we know it makes us stronger and more sustainable as a business… This year we’ve set a stretching new target to generate £25m of social value by 2025.”
The REIT has also placed strict climate change targets on itself and has this year delivered an 18.2% reduction in energy expenditure against its 2014 baseline.
In its results statement, the REIT says failure to properly consider and act upon the environmental and social impact of its activities could lead to an erosion of shareholder values, create a negative impact on its reputation, poor relationships with its customers and the communities in which it operates and delay its development activities.
“Sustainability is critical,” said chief financial officer Martin Greenslade.
“It gives us a reason to exist and is vital for the planet. Employees are insisting on it. We have to do something about it.”
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