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Presentation by John Lelliott Finance Director at The Crown Estate

Presentation to ACES Presidential Conference September 2013. Presentation by John Lelliott Finance Director at The Crown Estate. Body established by statue operating within the commercial sector. UK-wide organisation.

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Presentation by John Lelliott Finance Director at The Crown Estate

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  1. Presentation to ACES Presidential Conference September 2013 Presentation by John Lelliott Finance Director at The Crown Estate

  2. Body established by statue operating within the commercial sector. UK-wide organisation. Role is to optimise long-term returns from our portfolio. Return nearly £2 billion to HM Treasury in last 10 years. George III in 1760 and civil list arrangement. Recently replaced the Sovereign Grant. Who are we and what is our remit?

  3. £252.6m Returned to the Treasury +7.2% £8.1 bn Property value £8.6 bn +7.0 % Capital value 11.3% Total return vs IPD of 9.9%

  4. “Sustainability is the single biggest businessopportunity of the 21st century”Source: Lee Scott, Former CEO WalMart---“Corporate Social Responsibility is a hard edged business decision, not because it is a nice thing to do or because people are forcing us to do it….because it is good for our business”Source: Niall Fitzgerald, Former CEO, Unilever--- “Corporate Social Responsibility is not just about managing, reducing and avoiding risk, it is about creating opportunities, generating improved performance, making money and leaving the risks far behind” Source: Sunil Misser, Head of Global Sustainability Practice, PwC ---

  5. Our philosophy • Integration • Embedding • Responsibility

  6. A new focus Integrated reporting Concise communication of value strategy, governance, performance, prospects Non-Financial Reporting Financial Reporting Source: IIRC

  7. Material issue – an issue that could potentially impact our ability to deliver on our core objectives. • Assessed on three areas: • Its economic impact on the business • The degree to which our primary stakeholders are concerned with it; and • The extent to which it is likely to grow in significance and impact in the future

  8. Material issues Sustainability The Effect of Climate Change Maintaining Effective Stewardship Successful Placemaking and Amenity Value Availability of Natural Resource

  9. Effects of climate change The cost of carbon emissions will increase. Energy performance certificates. Energy levels and volatility. Decarbonisation of energy and growth from renewables. Extreme weather events and flooding likely to increase.

  10. Successful placemaking and amenity will drive value

  11. Maintaining effective stewardship Engagement with stakeholders becomes even more important. Biodiversity change.

  12. Availability of natural resources Competition for natural resources will increase demand and require innovative solutions. Increased and competing demand for land. Cost of waste to landfill will increase.

  13. Barriers and challenges • The market • Culture/cynicism/jargon • Leadership • Business buy-in/silo work

  14. Sustainability at the heart of our business… A sustainable business is good business. Helps create value and deliver total return. Enables us to deliver not only commercial returns but social and environmental benefits to our stakeholders.

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