Company Profiles

The British Land Company

United Kingdom

British Land, a property development and management company, clearly recognizes the economic benefits and competitive advantage that can be earned through the incorporation of sustainability principles, and the company considers environmental issues in all new developments. These include local transportation options, ecology and habitats, water resources, energy efficiency, material selections, reuse of brownfields, and design for extended building life and multiple uses. All new British Land buildings seek a BREEAM overall rating of Very Good, the second highest rating possible. The BREEAM system in the UK is similar to the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) program, which provides a means for assessing and reducing environmental impacts and associated costs throughout the life of a building—from design through construction and management. To assist the company in designing and building projects with improved sustainability features, British Land has initiated a number of programs, including a Supply Chain Working Group to formalize corporate responsibility throughout procurement policies, a Waste Management Plan that establishes a process for reporting waste management performance, and Biodiversity Action Plans for key properties in the company's portfolio. The company has also made efforts to source renewable energy for common areas in some of its buildings. We encourage the company to expand its use of renewable energy, and to report on building energy efficiency, as well as other green building attributes.

To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/06 and may not reflect current opinions or subsequent events.