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Carbon Champion 2015
M&G Real Estate Shopping Centre Portfolio - M&G Real Estate
From the onset, M&G Real Estate demonstrated a broad, longterm view to improving building performance driven by responsible property investment strategy. It methodically set about making lasting energy improvements to its shopping centre portfolio. From small adjustments of monitoring and measuring systems to undertaking refurbishments with short-term payback periods, followed by changes requiring greater investment commitment such as chiller improvements.
M&G Real Estate created environmental guides for occupiers, detailing financial and environmental benefits of fit-out, refurbishment, energy efficiency in equipment and appliances, and the importance of monitoring consumption. Last year, the organisation signed five green MoUs with Marks and Spencer that encouraged sharing of consumption data and a joint approach to investing in the fit-out of assets.
Through collaboration with the British Property Trust, M&G Real Estate created an industry-wide standard for green lease clauses to be incorporated into their retail leases. Also collaborating with CO2 Estates, it developed an impressive energy assessment and reporting methodology for industry-wide use. In the case of Arndale, which accounts for 65% of its portfolio, M&G Real Estate also engaged the community in order to build awareness of climate change and existing initiatives, as part of the Manchester Carbon Literacy Project. The strategy has paid off, with an overall 23% reduction of energy across all eight shopping centres over three years. That's a saving of 21,152MWh and £985,000 over the same period.
Project Team
Investment/Property Company: M&G Real Estate
Energy Management Shortlist
Lilly Research Centre Energy Management Programme, Windlesham - Eli Lilly
M&G Real Estate Shopping Centre Portfolio - M&G Real Estate