Staying the course on net zero: Why long-term estates can’t afford political flip-flopping

As uncertainty surrounds climate policy in the short term, one thing is clear: this is not the time to slow down. For estates like ours, with a legacy of stewardship spanning centuries, the current moment demands stability on sustainability. Our long-term approach, and commitment to communities, customers and shareholders, means we must lead with action.

Thinking in decades, not cycles

At Howard de Walden, sustainability helps to reinforce our commitment to exceptional standards, which includes delivering high quality buildings that also happen to be energy efficient and fit for a changing climate.

Our role as custodians of heritage assets across Marylebone Village (pictured) and Harley Street Health District, spanning all areas of real estate – from healthcare and retail to education and offices, as well as leisure and residential – gives us a unique view of the perspectives shared across a wide range of stakeholders in our community.

To us, and them, the climate agenda is not just an environmental imperative; it is a matter of asset and business protection. Rising temperatures, surface water flooding and inclement weather pose real risks to the physical and cultural fabric of our estate. Acting now isn’t just the right thing to do, it’s a matter of safeguarding what generations have built in our unique corner of London.

Governments plan in five-year terms; we have the benefit of planning in 50. Maybe more. This long-term perspective gives us the opportunity to invest in solutions that endure, so that every decision we make today shapes the viability of our assets and interests of our stakeholders, for decades to come.

The business case for sustainability

Beyond stewardship, we believe a robust approach to sustainability helps support a stronger asset valuation – or at the very least, protect it – as evidenced in research from the likes of Knight Frank and JLL. It also appeals to occupiers who prioritise high-performing space.

Getting ahead of legislation, meeting increasingly stringent energy performance standards, and embedding climate adaptation into our assets are all essential responses we’ve embedded into our strategic response. But for an estate as complex and diverse as ours, the challenge is less about knowing what needs to be done, rather than the timing and pace of delivery. This is why a stable commitment on sustainability is so important.

We are continuing to invest in environmental retrofits that enhance occupier comfort and raise overall building quality. This approach helps protect income, while potentially reducing exposure to future regulatory and physical risks. It requires a careful balance: understanding the long-term risk while recognising the opportunity our investments present. Put simply, it just means delivering better quality buildings.

Benefiting our customers, visitors and residents

Better buildings create better experiences for everyone who interacts with our estate. For occupiers and retailers, sustainable buildings can mean lower operating costs, improved energy efficiency and alignment with their own ESG goals. For customers and visitors, it can offer healthier environments, improved air quality and destinations that reflect their values.

From our own experience, we know people choose to shop, work and spend time in places that deliver the highest levels of satisfaction, and we believe sustainability plays a central role in delivering those environments. Staying the course on net zero – and the many attributes that together define sustainability – ensures we are not only future-proofing our estate, but also making it more attractive, vibrant and relevant for generations to come.

That is why we remain committed: not because we need to, but because it is essential. Our leadership role in Marylebone Village and Harley Street Health District makes this responsibility non-negotiable. It’s the hallmark of genuine stewardship.