Why B Corp is just one step in a long journey for The Portman Estate

The Portman Estate covers 110 acres of Marylebone in London’s West End. Adaptability and a willingness to embrace change have been fundamental throughout our long history as the estate has responded to population change, economic conditions and, more recently, the need to nurture and sustain vibrant communities for the long-term.

In August 2022, The Portman Estate became a B Corp, making us the first B Corp-certified London estate, an achievement of which we are extremely proud. For us, the certification represents the next chapter for socially responsible businesses and achieving this underlines so much of what the estate stands for and does in our community. Our score of 86.5 (50.9 being the median score for businesses) demonstrates we are meeting high standards of social and environmental performance across our business and that we have a commitment to continuous improvement.

Journey to B Corp

Following our certification, we published our first B Impact Report. This highlights our journey to certification and some of our achievements over the past 12 months, including the impact we have on our local community, our new tenant portal and our successful wellbeing programme, which has now been in place for our own team for several years.

Over the past 12 months, the estate has also focused hard on environmental improvements. However, we acknowledge the need to push even further, particularly in our ambition to achieve substantive reductions in our carbon emissions.

As an early signatory to Westminster City Council’s Sustainable City Charter, we support the council’s ambitious 2040 net zero target and are working hard to implement real change through sensitive refurbishment of our buildings and a better understanding of the impact of our operations.

We are also working hard to engage our occupiers so that we can achieve our shared environmental goals by working in collaboration. Our B Impact Report highlights our role on the city-wide Zero Emissions Group and, at a more local level, on our own estate, our support for new tree planting. These two initiatives are designed to support the wellbeing of everyone in our community, as well as bring important environmental benefits.

Purpose-led initiatives

We take great pride in our partnership with Bioregional, a purpose-led sustainability consultancy with whom the estate has been working for the past four years. Together, our collaboration is helping to deliver a comprehensive sustainability approach, guided by the 10 principles that make up Bioregional’s One Planet Living framework.

In 2022, we published our first Sustainability Action Plan, which sets ambitious objectives across each of the 10 principles, from health and happiness through to zero carbon emissions. For us, there is a clear alignment between the objectives in our Sustainability Action Plan and our B Corp certification: the two are mutually supportive.

The diverse range of land use on The Portman Estate is one way that we are ensuring the long-term sustainability of our built environment. In addition to our residential portfolio, the estate encompasses a range of commercial, retail, leisure, and cultural spaces. These mixed-use developments enhance local engagement to foster a sense of place that extends beyond bricks and mortar.

By developing public spaces and community facilities we can improve the overall quality of life for all those who live, work and play in the area, enriching the local economy in many ways. This ability to take a long-term, strategic view of an area is something that we share with London’s other great estates and it is an approach that fully underpins our sustainability goals.

Preserving cultural heritage

Sustainability is also about preserving our cultural heritage and the historic buildings in our care that give Marylebone its distinct charm. Integrating sustainable design principles and new technologies into our historic building stock as well as our new developments plays a crucial role in preserving the environment and minimising any negative impacts.

We can only do this by working in partnership with others and drawing on the expertise of trusted and innovative partners. Our B Impact Report highlights our first Supplier Charter, which details the standards we set for ourselves and the suppliers who work with us. As the charter evolves, we hope to share examples of good practice – environmental improvements and community support are just two examples – for the benefit of all our stakeholders.

The Portman Estate is an example of how adopting a long-term approach can have a positive influence on the sustainability of an urban area. Through diversification of land use, community engagement, historical preservation and environmental initiatives, we can support a vibrant and attractive community that can adapt to future challenges. Our B Corp certification is just one step on that journey.