Grainger plc Regulatory News (GRI)

13 March 2025

Grainger plc

("Grainger" or "the Company")

Grainger's science-based target approved by SBTi, reinforcing commitment to emissions reduction

Grainger plc, the UK's largest listed residential landlord and leader in the Build-to-Rent ("BTR") sector, is pleased to announce it has received approval from the Science Based Targets initiative (SBTi), for its near-term science-based greenhouse gas emissions reduction target.

Starting from the base year 2023, Grainger is committed to reducing its absolute scope 1 and 2 GHG emissions by 42% by 2030.* Additionally, the company will reduce scope 3 GHG emissions from capital goods and downstream leased assets by 51.6% per square meter of residential gross internal area over the same period. Grainger reduces operational emissions in its buildings through a series of actions: communal refurbishments, unit refurbishments, replacing gas heating systems, generating renewable energy through solar PV, purchasing renewable energy, and reducing development emissions by partnering with contractors and ensuring sustainable design material choices.

The Science Based Targets initiative (SBTi) is a corporate climate action organisation that enables companies and financial institutions worldwide to play their part in combating the climate crisis. This recognition underscores Grainger's commitment to reducing greenhouse gas emissions from the development and operation of its buildings by 2030 and driving meaningful change within the industry.

Grainger has already delivered measurable results including achieving an 8% reduction in Scope 1-2 emissions between FY23 and FY24 and improving the energy efficiency of their PRS portfolio with 95% of properties rated EPC A-C. Investing in the energy efficiency of properties not only enhances Grainger's customers' well-being but also delivers them with significant savings on energy costs.

Charlotte Hopkinson, Head of Sustainability and CSR at Grainger, said:

"Receiving SBTi validation is a key milestone in our sustainability journey, confirming that our decarbonisation efforts are both ambitious and credible. This approval strengthens Grainger's position to make a meaningful impact in reducing emissions.

"We remain committed to implementing initiatives that will drive continued progress toward a sustainable, low-carbon future, ensuring we contribute to the broader global effort to combat climate change."

\* The target boundary includes land-related emissions and removals from bioenergy.

ENDS

For further information, please contact:

Media

Ginny Pulbrook / Tom Huddart / Tilly Butcher, Camarco: +44 (0) 20 3757 4992 / 4991

Notes To Editors:

Grainger is the UK's largest listed residential landlord and leader in Build to Rent. We are changing the way people rent in the UK by providing high quality, professionally managed rental homes. We are building homes where people want to live, creating spaces residents enjoy and making a positive impact in local communities.