SEGRO Embodied Carbon Strategy
Embedding carbon accountability within the industrial sector.
Our partnership with SEGRO, a UK Real Estate Investment Trust (REIT) and a leading owner, asset manager, and developer of modern warehousing and industrial property, began with a clear ambition: to transform how embodied carbon is understood, measured, managed, and reduced across its portfolio.
Since 2019, we have calculated embodied carbon for over 0.5 million m² of lettable floor area and verified data for more than 1.5 million m², creating one of the largest embodied carbon datasets in the industrial sector. This robust data foundation allows SEGRO to move beyond estimates and assumptions toward a data-driven, scalable approach to reducing carbon emissions.
Working alongside SEGRO’s internal teams, our Sustainability team provided the technical expertise, strategic insight and cross-sector coordination to deliver a solution at scale. We developed and embedded a consistent, portfolio-wide methodology for Life Cycle Assessments (LCAs). This replaced traditional cost-based estimates with evidence-led analysis.
This foundational shift underpins SEGRO’s wider decarbonisation strategy. We are collaborating with regional teams across the UK and Europe to establish rigorous benchmarking, ensure transparent reporting and achieve measurable reductions in embodied carbon. This supports SEGRO’s net-zero commitments while reinforcing its leadership in responsible real estate development.
- Client
- SEGRO
- Location
- UK & Europe
Impact
Our tailored LCA for SEGRO is industry leading. It is the first tailored, scalable methodology for the previously underserved logistics and industrial sector. Providing SEGRO with a practical, scalable framework for LCAs across diverse assets and geographies.
Across SEGRO’s portfolio, average embodied carbon intensity has fallen from 400 kg CO₂e/m² in 2022 to 292 kg CO₂e/m² in 2025. These measurable reductions demonstrate the effectiveness of the tailored LCA methodology and its integration into design and delivery processes.
We have verified the embodied carbon for over 1.5 million m² of lettable floor area. This robust dataset provides SEGRO with reliable, portfolio-wide insights to drive strategic decisions.
Improved internal reporting of embodied carbon emissions to align with investor expectations, regulatory requirements and science-based targets. This approach provides auditable data to demonstrate progress and support net-zero targets, including the international Science Based Targets initiative (SBTi).
Delivered tailored training, strategic workshops and technical support to build in-house expertise. Carbon performance is now integrated into SEGRO’s planning, procurement and design processes, ensuring long-term impact beyond individual projects.
Working closely with SEGRO’s regional teams, we are streamlining data collection, resolving technical challenges and maintaining quality delivery. This portfolio-wide consistency strengthens comparability and accountability, enabling SEGRO to reduce embodied carbon at scale.
Context
SEGRO — listed on the London Stock Exchange and Euronext Paris — is a leading owner, manager and developer of modern warehouses and industrial property. Its portfolio is complex and expansive, including buildings of up to one million square feet.
When our engagement began in 2019, embodied carbon was emerging as a key area of focus for investors, developers, regulators and occupiers. However, there was little clarity or precedence for how it should be tracked at scale across such a diverse portfolio.
SEGRO sought a long-term strategic partner to develop a tailored strategy focused on reducing embodied carbon across its portfolio. A solution for development at scale, cutting through complexity to provide actionable insights and embed high-performing, low-carbon developments across the business.
SEGRO Embodied Carbon Strategy
Quote
"We have set ourselves challenging science-based targets which rely on us understanding, managing and reducing the embodied carbon in our development programme. This is a complex undertaking and our partnership with Elliott Wood is playing a vital role in helping us make progress on our net-zero journey.”
Our Approach
Bespoke Methodology Development
We developed and integrated a bespoke portfolio-wide LCA methodology to align with best practices and policy. This supports SEGRO’s net-zero commitments and reinforces its leadership in responsible real estate development.
The methodology also aligns with SEGRO’s science-based carbon targets, approved under the Science Based Targets initiative (SBTi). These targets set out defined pathways for reducing value chain emissions to limit global warming to 1.5°C.
Since implementation, average embodied carbon intensity across SEGRO's portfolio has fallen from 400 kg CO₂e/m² in 2022 to 292 kg CO₂e/m² in 2025. These measurable reductions demonstrate the effectiveness of the tailored LCA methodology and its integration into design and delivery processes.
Portfolio-Wide Implementation
The methodology is now delivered consistently across SEGRO’s UK and European development pipeline, covering major industrial units up to one million square feet. Each assessment follows the group methodology, ensuring accuracy, comparability, and integrity across all data.
Our sustainability consultants continue to verify all as-built LCAs. The robust data set facilitates portfolio-level strategic decisions to further reduce embodied carbon emissions and ensure embodied carbon insights are integrated in early design through to delivery.
LCAs have now been completed or verified for over 1.5 million m² of lettable floor area across SEGRO’s UK and European developments, ensuring data integrity and comparability across the portfolio
Capacity Building and Knowledge Sharing
To support long-term success, we are building in-house capability within SEGRO through tailored training sessions, process toolkits and strategic workshops. Together, these initiatives have helped embed embodied carbon principles into day-to-day decision-making.
We are working closely with SEGRO’s regional teams to streamline data collection, resolve technical challenges and maintain quality delivery across all regions. This portfolio-wide consistency strengthens comparability and accountability, driving embodied carbon reduction at scale.