Capital & Counties Properties plc (JSE:CCO) News - Publication of Capco's net zero carbon pathway

Capital & Counties Properties PLC
(Incorporated and registered in the United Kingdom and Wales with
registration Number 07145041 and registered in South Africa as an
external company with Registration Number 2010/003387/10)
JSE code: CCO
ISIN: GB00B62G9D36
LEI: 549300TTXXZ1SHUI0D54


8th December 2021

                     CAPITAL & COUNTIES PROPERTIES PLC (“Capco”)

                   PUBLICATION OF CAPCO’S NET ZERO CARBON PATHWAY

Following Capco’s commitment in February 2021 to achieve Net Zero Carbon by 2030, Capco today
announces the publication of its Net Zero Carbon Pathway and its intention to join UN Race to Zero.

Responsible stewardship is one of the key strategic priorities for Capco, underpinned by effective
governance and delivering positive sustainable outcomes that enhance value for our stakeholders.
The Pathway sets out how we will deliver our Net Zero Carbon commitment by 2030 as well as
becoming Net Zero Carbon in our corporate activities by 2024. These timelines reflect the urgent
challenge of tackling climate change and how we will continue to engage with and support our
stakeholders to achieve this.

Our approach recognises that our heritage buildings represent a long-term store of carbon. We will
leverage the existing embodied carbon by making effective improvements to our buildings. Capco
will focus on five key activities:

    •   50% reduction in embodied carbon emissions to below 475kg CO2e per m2 by 2030 by
        prioritising innovative refurbishment using sustainable materials and using Whole Life
        Carbon assessments
    •   60% reduction in operational carbon intensity by driving down energy demand in all our
        activities
    •   Prioritise innovation and renewables through new technologies and energy initiatives as well
        as working with an innovative supply chain
    •   Enhance climate adaptation and resilience to improve building resilience
    •   Residual Emission Offsetting using certified schemes

Full details on our Pathway can be found on our website at
https://www.capitalandcounties.com/responsibility/net-zero-carbon-pathway

Capco’s commitment to being Net Zero Carbon by 2030 is core to our business and earlier this year
an environment, sustainability and community (“ESC”) strategy was established, with a commitment
to achieve Net Zero Carbon by 2030.

Capco’s Board ESC Committee, which is chaired by Non-executive Director Charlotte Boyle and of
which all Capco’s independent Non-executive Directors are members, monitors implementation of
Capco’s ESC Strategy and reports directly to the Board.

Ian Hawksworth, Chief Executive of Capco, commented:
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“Capco recognises the urgent responsibility to tackle climate change and this is reflected in our 2030
Net Zero Carbon target. We have a strong track record of restoring and celebrating the heritage of
the Covent Garden estate through considered refurbishments and developments. We are proud of
our passionate and talented people who will deliver on our net zero ambition through proactive
engagement and mutual understanding to create and maintain a vibrant, thriving environment in
which Covent Garden and all our stakeholders can flourish.”

Charlotte Boyle, Independent Non-executive Director of Capco and Chair of the Board ESC
Committee, commented:

“Our effective governance framework ensures that progress against our Net Zero Carbon Pathway
will be closely monitored by Capco’s ESC Committees and reported to the Board regularly.

Our talented and committed teams have a vital role to play in achieving our ambitious target. We will
therefore provide support to allow them to gain the skills and knowledge they need to deliver against
the Pathway.”


Enquiries:
Capital & Counties Properties PLC
Ian Hawksworth                        Chief Executive                             +44 (0)20 3214 9188
Tom Attree                            Director of Sustainability and Technology   +44 (0)20 7395 2753
                                      Director of Commercial Finance and
Sarah Corbett                         Investor Relations                          +44 (0)20 3214 9165


Our purpose:
Our purpose is to invest in and create world-class places, focusing on central London. Using our
vision, long-term approach and responsible stewardship, we deliver economic and social value and
generate benefits for our stakeholders.

About Capco Covent Garden:
Covent Garden is a leading retail and dining destination and is one of the most vibrant estates in the
heart of central London. The area is now home to a wide variety of British, global and independent
brands including Chanel, Tom Ford, Vashi, Strathberry, Ave Mario, Balthazar and SUSHISAMBA,
with upcoming openings from Glossier and Reformation. www.coventgarden.london

About Capital & Counties Properties PLC:
Capital & Counties Properties PLC is one of the largest listed property investment companies in central
London and is a constituent of the FTSE-250 Index. Capco's landmark estate at Covent Garden was
valued at £1.7 billion (as at 30 June 2021) where its ownership comprises over 1.1 million square feet
of lettable space. As at the date hereof, Capco owns a 25.2 per cent shareholding in Shaftesbury PLC.
Capco shares are listed on the London Stock Exchange and the Johannesburg Stock Exchange.
www.capitalandcounties.com


JSE Sponsor: UBS South Africa (Pty) Ltd



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Date: 08-12-2021 01:30:00
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