HemeraScope Asset Management

Performance

Footprint over time — UKGBC reporting-over-time view

2022 base

198.4 t

2024 actual

164.8 t

Change vs base

-16.9%

Variable share

Total footprint trend

A genuine 16.9% reduction — but read the split below

The headline is down sharply, yet most of the late drop is the variable band shrinking (capital works completing). The fixed band — tenant energy and operations — is the real test of decarbonisation, and it is falling more slowly.

Footprint by year — fixed vs variable activities

2022198.4 tCO₂e

2023181.2 tCO₂e

2024164.8 tCO₂e

Fixed activities (tenant energy, operations) Variable activities (capital works, fit-out)

Five-year rolling rate normalises construction-year peaks; fixed activities (tenant energy) are tracked separately from variable ones.

Stranding risk — CRREM 1.5°C pathway

Asset	Intensity kgCO₂e/m²iOperational carbon intensity2024 operational carbon intensity per the asset footprint. The figure CRREM curves are compared against.	Stranding yeariStranding year (CRREM 1.5°C)Year the asset's current intensity crosses the CRREM 1.5°C UK-office decarbonisation pathway, assuming no retrofit. A standardised transition-risk signal for LPs.	Band
Pawston House	33.6	2032	At risk
Riverside Court	5.2	Not on intensity	Below pathway
The Old Exchange	11.2	2041	Aligned

CRREM 1.5°C — UK office pathway (placeholder; License Partner pending)

Why this matters

The UKGBC guide separates fixed activities — which should fall steadily as buildings are decarbonised — from variable activities, which spike with capital works. Splitting them stops a refurbishment year from masking real progress on the operational footprint. Pawston Estates is -16.9% against its 2022 base year.