P3, one of the leading European logistics property companies, has become one of the first specialist warehouse developers in the world to be an active Participant in the United Nations Global Compact, the world’s largest corporate sustainability initiative.
The Compact, which has more than 12,000 signatories in 170 countries, aims to mobilise a global movement of sustainable companies. It calls on businesses to align strategies and operations with 10 universal principles on human rights, labour, environment and anti-corruption. It also requires companies to take strategic actions to advance broader societal goals, such as the 17 UN Sustainable Development Goals, with an emphasis on collaboration and innovation.
As a Participant in the Compact, P3 will submit an annual sustainability report, which will detail its commitment to sustainable development, record its environmental performance for the year; how it has improved over the past year(s) and how it plans to enhance performance going forward.
Already one of the most environmentally aware companies in the European logistics property sector, with a number of BREAM very good buildings in its portfolio, P3 is in the process of setting a series of key goals against which it will measure and record progress as a Compact Participant.
These will include aiming to always score in the top 5% on energy efficiency and operating costs compared to the industry standard. In addition, P3 is developing a platform that will allow it to express all design, build and operating costs in both Euros and GHG-emissions, so that the P3 design team and its customers can make informed decisions about the real and environmental costs of building materials and techniques, equipment and processes as often something very cheap can be very environmentally harmful.
Ian Worboys, P3’s CEO: "Signing the UN Global Compact is very significant for P3. It clearly demonstrates that we are serious about our on-going commitment to sustainability, which we have sought to embed within our corporate practices for many years. We believe that we may be the first warehouse developer in the world to become an active UN Global Compact Participant and we will continue to be industry leaders in this field, looking to create a sustainable business model for others to follow. Being a Participant of this initiative will have a big impact on our Corporate Social Responsibility strategy, and going forward we will increasingly focus more clearly on leadership, environment and education objectives to meet the UN Sustainability Development Goals.”