Age Concern

A charitable organisation set up to provide a wide range of assistance to the elderly.

Association of British Insurers (ABI)

An industry association that explores public policy and other issues relevant to the insurance industry. The ABI has published guidelines on implementing CR.

Association of Chief Police Officers

Assists chief police officers to provide excellence in the leadership of the service; ensures a professional and ethical service is delivered to all communities; and provides professional advice to Government, police authorities and other appropriate organisations and individuals.


Short for biological diversity, means the diversity of species, the diversity of the habitats in which they live, and genetic diversity within species.

Biomass boiler

Heating system based on burning biological matter such as wood pellets.

BREEAM (Building Research Establishment’s Environmental Assessment Method)

A measure of best practice in environmental design and management used to assess the environmental performance of new and existing buildings.

Brownfield land

Land that has previously been used for development.

Business in The Community (BiTC)

This is a UK charity whose aim is to inspire, challenge, engage and support business in continually improving its positive impact on society.

Carbon footprint

In the context of a business, this is a measure of the total amount of carbon dioxide equivalent emitted through the combustion of fossil fuels as a result of everyday operations.

Carbon management

A tool for reducing an organisations impact on climate change through the management of its carbon emissions.

Carbon offsetting

The act of mitigating, or ‘offsetting’, greenhouse gas emissions through the purchase of some form of offset credit to compensate for the equivalent emissions.

Carbon Trust

A Government body works with businesses and the public sector to meet the UK’s ongoing targets for carbon dioxide emissions; to improve the competitiveness of UK business through resource efficiency; and to support the development of a UK industry sector that capitalises on low carbon technologies.

Climate Change Levy

A tax on industrial and commercial use of energy. The levy is designed to stimulate increased energy efficiency across business thereby reducing the UK’s emissions of greenhouse gases.

Considerate Constructors Scheme (CCS)

A voluntary Code of Considerate Practice, which is adopted by participating construction companies and everyone involved on the construction site.

Construction Skills Certification Scheme (CSCS)

Provides a standard to demonstrate competency in occupational health and safety.

CR (Corporate Responsibility)

This concept considers many aspects of a company’s performance and risks associated with issues, such as employment, environment, human rights, communities and business relationships. CR can be considered as an organisation’s response to the sustainable development agenda.


The UK Government Department for Environment, Food and Rural Affairs.

Disability Discrimination Act (DDA)

An Act of Parliament put in place in 1995 that enforces the rights of and prevents the discrimination against disabled people in areas of employment, access to goods, facilities and services and property.


Earnings per share (adjusted)

Earnings per share adjusted for valuation and exceptional items and their tax effect, in accordance with UK property industry practice.


An environmental rating scheme for homes, which seeks to measure the overall environmental performance of new and existing homes. It considers the broad environmental concerns of climate change, resource use and impacts on wildlife.

Elifar Foundation

A voluntary organisation set up to help improve the care, facilities and equipment available mainly to profoundly disabled children and young adults.

Energy from Waste (EFW)

The process of converting waste materials into various forms of energy.

ERV (Estimated Rental Value)

The external valuers’ estimates of the group’s share of the current annual market rent of all lettable space.

Fair value

The realiseable value of an investment property or other financial asset or liability after taking account of associated assets and liabilities, such as accrued income and finance lease obligations.


FTSE4Good indices (part of the FTSE set of indices) have been designed to measure the performance of companies that meet corporate responsibility standards to facilitate investment in those companies.

Global Reporting Initiative (GRI)

An international process whose mission is to develop and disseminate globally applicable sustainability reporting guidelines for voluntary use by organisations for reporting the economic, environmental and social dimensions of their activities.


The management processes and systems that determine how decisions are made and a company is managed.

Green roof

Planting rooftops with plants, trees and grasses. A green roof has a range of environmental benefits, such as minimising rainwater run-off.


A broad term encapsulating non-industrial wastewater and rain water which can be reused for non-drinking purposes.

ISO 14001

An international standard on environmental management intended to assist organisations to achieve environmental and economic goals.

Johannesburg Securities Exchange (JSE)

South Africa’s Socially Responsible Investment Index. The Index measures commitment and performance in terms of environmental, economic and social impacts.

Kilowatt hours (kWh) and Megawatt hours (MWh)

Units of energy measurement.


Like-for-like capital

The category of investment properties, which includes like-for-like income properties, plus those that have been owned throughout the current period but not the whole of the prior period, without significant capital expenditure in the current period, so capital values but not income can be compared on a like-for-like basis.

Like-for-like income

The category of investment properties that have been owned throughout both periods without significant capital expenditure in either period, so both income and capital can be compared on a like-for-like basis.

Market value

A valuation of an investment property by an independent external valuer in accordance with the Appraisal and Valuation Manual of RICS. Market value represents the figure that would appear in a hypothetical contract of sale between a willing buyer and a willing seller.

Morley Sustainable Investment

A fund management company and a leader in SRI and CR.

Net assets (diluted, adjusted)

Net assets adjusted for deferred tax in respect of revaluation surpluses and capital allowances, fair value movements on interest rate hedges, and valuation surpluses on trading properties net of tax, in accordance with UK property industry practice (for calculation, see Financial review).

Net rental income

The group’s share of net rents receivable as shown in the Income Statement.

Nominal equivalent yield

Effective annual yield to a purchaser from the assets individually at market value after taking account of notional acquisition costs but assuming rent is receivable annually in arrears rather than reflecting the actual rental cash flows.


A sustainable development research and benchmarking organisation.

Park and Ride

Provides a means of travelling in and out of a town or city centre. Visitors park their car at a designated car park outside the town or city centre and travel in by a designated bus.

Passing rent

The Group’s share of contracted annual rents receivable at the balance sheet date. This takes no account of adjustments made in respect of rent-free periods or tenant incentives, the reclassification of certain lease payments as finance charges or any irrecoverable costs and expenses, and does not include excess turnover rent, additional rent in respect of unsettled rent reviews or sundry income, such as from car parks etc.

Renewable energy

Energy produced from non-fossil fuel sources.

Retailer handbook

Reference book provided to each shopping centre retailer containing information on shop fitting procedures and the operation of the shopping centre.


Reporting of Injuries, Diseases and Dangerous Occurrences from the 1995 Regulations. These Regulations require an employer to report certain dangerous events to the appropriate enforcement body. Such events include fatalities, major injuries, injuries where employees are away from work over three days and a wide range of occupational diseases as well as an extensive list of other defined dangerous events.


Seltrans (Southeast London Transport Strategy)

A partnership between the seven southeast London boroughs, transport providers and operators, and groups representing the interests of businesses and passengers.


Individuals and organisations that own shares in Liberty International.

Shoppers and occupiers

Our customers – the tenants of our offices, retail and shopping centres and their employees, and visitors to our premises or those of our tenants.

Socially Responsible Investment (SRI)

Investment decisions based on environmental and social factors, as well as financial returns. SRI balances the need for financial returns with the investment’s potential impact upon the environment and society. Most major investors operate SRI funds, which will only invest in companies meeting predetermined environmental and social criteria.


Any person who is affected by or has an effect upon an organisation. A stakeholder is also a person who perceives an effect as a result of an organisation’s activities.

Sustainability/sustainable development

Integrating economic, social and environmental policies to ensure a better quality of life for everyone, now and for generations to come.


A major UK sustainable transport charity. The aim of the charity is to enable people to choose to travel in ways that benefit their health and the environment by providing practical, innovative ways of dealing with the transport challenges that affect us all.

The Carbon Trust

Launched in April 2001, this Government body works with businesses and the public sector to meet the UK’s ongoing targets for carbon dioxide emissions to improve the competitiveness of UK business through resource efficiency and to support the development of a UK industry sector that capitalises on low carbon technologies.

Total return

Percentage increase in net assets per share (diluted, adjusted) after adding back dividends and, in 2006, the one-off REIT conversion charge.

Travel plan

A package of measures used to promote alternatives to single-occupancy car use.

UK Human Rights Act

Legislation formally setting out the rights of UK citizens.


Disclosing information about malpractice where the disclosure is in the public interest.