13 March 2023

Assura plc

MSCI ESG rating upgrade to AA and on site with energy reduction pilot

Assura plc ("Assura"), the leading primary care property investor and developer, today announces its MSCI ESG rating has been upgraded to AA, recognising its significant ongoing progress in ESG.

Additionally, Assura is pleased to announce a further ESG milestone having moved on site with its first retrofit air source heat pump project at its Banbury Cross Health Centre at South Bar House, Oxfordshire.

Jonathan Murphy, CEO, said:

"We have ambitious targets to reach net zero across our portfolio. It is therefore pleasing to see external recognition from MSCI in upgrading our ESG rating to AA, reflecting our commitment to incorporating ESG ambitions into our strategy and disclosures.

"The successful pilot at Banbury Cross Health Centre marks further progress in reaching our ambitious net zero carbon targets. These works are one of several planned interventions to reduce both the carbon emissions from the building and the energy bills for our customer, demonstrating the important role that retrofitting existing buildings will play in achieving net zero carbon across our portfolio by 2040."

MSCI ESG rating upgraded to AA

MSCI ESG Research has upgraded Assura's ESG Ratings assessment to AA.

MSCI ESG Research provides MSCI ESG Ratings on global public and a few private companies on a scale of AAA (leader) to CCC (laggard), according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.

Banbury retrofit project significantly reduces annual carbon emissions

The retrofit of Banbury Cross Health Centre is an important step in Assura achieving its ambition of being fully net zero carbon by 2040, reducing the carbon emissions by 25% on this building, in support of the NHS's own goal of becoming the world's first net zero healthcare system. This is a pilot project to retrofit an air source heat pump, being the first such project since the publication of our net zero carbon ambition. Reducing the building's annual carbon emissions represents the model for future retrofit projects across Assura's portfolio and demonstrates the company's proactive approach to achieving net zero for the benefit of its customers and the environment.

The 3,600 sq.m building, from which over 55,000 patients are served, was added to the Assura portfolio in 2006. As well as adding 10 years to the remaining lease term, the completion of the project is expected to see the EPC rating improve to B. In addition to the air source heat pump, the lighting has been upgraded to LED throughout and the project will be completed in the coming weeks by the installation of 175 photo-voltaic panels which will generate circa 58,000 kWh.  

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Notes to Editors

Assura plc is a national healthcare premises specialist and UK REIT based in Warrington, UK - caring for more than 600 primary healthcare buildings, from which almost seven million patients are served.

A constituent of the FTSE 250 and the EPRA* indices, as at 31 December 2022, Assura's portfolio was valued at £2.7 billion.

At Assura, we BUILD for health. Assura builds better spaces for people and places, invests in skills and inspires new ways of working, and unlocks the power of design and innovation to deliver lasting impact for communities - aiming for six million people to have benefitted from improvements to and through its healthcare buildings by 2026. 

Assura is leading for a sustainable future, targeting net zero carbon across its portfolio by 2040.

Further information is available at www.assuraplc.com

Assura plc LEI code: 21380026T19N2Y52XF72

*EPRA is a registered trademark of the European Public Real Estate Association.