I am not doing a tennis-related product this time but a Blackstone property – Chiswick Business Park – in the UK. I have visited this site during my internship this summer, which allows me to provide some first-hand insights. Chiswick Park (hereafter CP) is a 1.8 million square foot business campus located in West London. Enjoy-Work is the property management team of Chiswick Park.
According to 2019 Global Status Report for Buildings and Construction, the buildings and construction sector accounted for 36% of final energy use and 39% of energy and process-related carbon dioxide (CO2) emissions in 2018. 11% of these emissions resulted from manufacturing building materials and products such as steel, cement and glass. Therefore, I think it is imperative to review the sustainability level in real estate sector – the main reason I am writing this review (but this review mainly focuses on the sustainability of property management, which is after the construction stage).
I give a relatively high rating to the management of Chiswick Park because it continues to work on making a positive difference to the community by launching Enjoy-Work Together, a new Environmental, Social, Governance (ESG) strategy for 2021. It cares about the carbon footprint across the campus and accordingly has made awesome changes. CP is sustainable not only because of its effort in reducing carbon emission but also because it takes care of the people who work in the campus. Rob M from Paramount says that ‘it is a joy to walk through and spend time during the summer months because of the fabulous environment and nature within the campus.’
Enjoy-Work Together strategy involves three main pillars – Environmental, Social and Governance.
Environmental side focuses on the environmental impact of the business. Its environmental criteria include 5-year energy management plan, use of renewable energy sources, waste management programme and biodiversity practices.
Social aspect mainly stresses the significance of curating special relationships within the CP community, including its guests, partners, team members as well as the local community. The main goal of the social aspect is to bring positive social solutions or impact to the community.
Governance side tries to ensure the businesses are running the way in which the stakeholders are confident of the companies.
I will explain more in detail in the next section regarding how Enjoy-Work has tried to achieve the ESG guidelines in Chiswick Park. For this section, I will give it 2 planets because Enjoy-Work has officially announced to the public that they will follow these three main standards (E, S and G) for managing the property. I did not rate it 3 planets because I think the strategy has just rolled out and I am not 100% sure if the outcomes of the ESG strategy in 5-year time will be desirable or not. Let’s leave some space for Enjoy-Work to excel or to exceed our expectation.
I paid a visit to Chiswick Park one week ago and I had a conversation with Enjoy-Work’s Public Relations and Community manager. She emphasized the fact that her team has put ESG guideline in the forefront and there are some initiatives already taken to roll out the ESG strategy.
On the environmental side, Enjoy-Work has put lots of effort in reducing carbon emission in the business park. Three main points will be discussed.
First, they have sought to enhance cycling facilities and services across CP to encourage workers to commute by bikes. They installed the Cycle Hub where there are over 800 secure spaces for bikes across the campus with Cycle Hub cages. Next to the Cycle Hub, there are bike repair stations so that workers who commute by cycling do not need to worry about bikes being damaged along the way. Also, there are 22 Brompton bikes, 52 bikes and 8 scooters that are available to borrow across the campus. Moreover, Enjoy-Work provides free monthly bike servicing to all Guests bookable via the Enjoy-Work App. To further encourage people to cycle every day, Enjoy-Work has built some shower and changing rooms in the campus so that workers don’t need to worry about getting wet or sweaty.
Second, Enjoy-Work has increased the number of Electric Vehicles (EV) charging points in the campus. There are 14 charging points on the park at the moment.
Third, Enjoy-Work has installed bin locks to all the bins on the campus where the locks can assist the management team in calculating the amount and types of waste that has been produced by each tenant on the campus.
On the social side, Enjoy-Work creates activities and platforms to help different stakeholders - guests, partners, team members and the local community – on the campus to build special relationship.
First, they have established a platform called ONECARD partnership where it links the workers and local businesses around the campus. The main idea is that workers can get a discount in the shops in the partnership. This is a mutually beneficial platform where local shops can have more deals and workers can save more money.
Second, Enjoy-Work continues to organize social wellbeing activities on the campus to make people relax or connect with each other after work. For example, there are yoga classes provided in the campus and pub in the park from time to time. These activities may help to create a tight-knit community where people can help each other in the most difficult time – a sustainable community.
In regards to the governance side, I think it overlaps with environmental and social sides because the installation of the facilities itself, for example EV charging points or bike cages, is an implied way to nudge people to use the transportation means that Enjoy-Work has provided.
I was amazed by the initiatives rolled out by Enjoy-Work so I will rate this section 3 planets.
As already mentioned, Chiswick Park is entirely managed by Enjoy-Work, a property management that provides a range of services, facilities and entertainment for its guests and workers on the park. Its continual effort in carrying on its ESG guidelines have amazed and I could confirm that those initiatives, including EV charging points and bike cages, are true as I visited on-site.
According to Enjoy-Work website, the impact of some of its initiatives has been quantified. First, it has reduced its carbon footprint by 60% in 2019. Second, there are over 100,000 on-site worms for food recycling. Third, because of its effort in promoting recycling, 1,071 trees have been saved. Fourth, 100% of CP’s green waste has been recycled each year. Fifth, Enjoy-Work has sourced its energy 100% from renewable energy suppliers.
I will thus rate 3 planets for this section and I really do hope Enjoy-Work will continue its effort in delivering a sustainable business park or even an exemplary sustainable business park across Europe.