Through our investment, asset and property management, forward funded development and corporate activities we look to minimise the environmental impact of our business.
PHP is committed to the principles of continuous improvement in managing environmental issues, including the reduction of pollution and emissions, the proper management and monitoring of waste, and compliance with environmental legislation and codes of practice.
Environmental and sustainable matters are an integral element of PHP’s assessment of the suitability of new medical centres that the Group looks to acquire and fund. PHP undertakes a detailed assessment of each location, looking at the sustainable nature of a site and how it will serve the local population and its importance to the local healthcare provision, ensuring that the centre is affordable and will meet the future needs of the local population.
As climate change risk increases we are reviewing our approach to environmental due diligence, with a view to enhance our assessment for new acquisitions, but an important element of our process is to undertake detailed environmental and building surveys which include a detailed assessment of the environmental risk for each investment, including flooding, to ensure the risk is avoided or appropriate prevention measures are developed. PHP has engaged consultants Simpson Hilder and GEP Environmental to help in this process.
We have obtained EPC ratings across the whole portfolio and will undertake improvement works where required to ensure full compliance with the Minimum Energy Efficiency Standards that will apply from 2023.
of the portfolio has an EPC rating of “A-C”
We are committed to creating great primary care centres by focusing on the future needs of our occupiers and thereby ensuring we are creating long term sustainable buildings. Our asset and property management objective is to invest in the portfolio of properties with enduring occupier appeal, which provide opportunities to improve both rental values and the security and longevity of income, including limited risk short-cycle projects to improve the quality of assets. Through these asset management initiatives, we also aim to deliver energy efficiencies and source cleaner energy for our occupiers.
projects completed during 2020
projects expected to commence over the next three years
Data sourced from Annual Report 2020
PHP engages with its development partners to promote the highest possible standards of environmental, sustainable and social matters when designing and constructing new premises. As a minimum, new properties are required to achieve a recognised sustainable building certification standard, of at least BREEAM (Building Research Establishment Environmental Assessment Method) Very Good in the UK or nZEB (nearly Zero Energy Buildings) which typically corresponds to an A3 Building Energy Rating in Ireland, and requirements are in place for developers and contractors to ensure the implementation of responsible property development practices.
We continue to work with occupiers regarding their ongoing environmental responsibilities which in due course we aim to include in all leases entered into as a norm for newly built premises. We continue to work with developers to integrate a range of sustainable features into new scheme including solar PVs, roof lights, electric vehicle recharge points, water conservation and ecology.
of the newly completed assets delivered in 2019 held an EPC with a rating of B or better