Performance against targets
Our four strategic objectives:
As we continue to evolve our Group strategy, we will be setting new targets and key performance indicators (KPIs), which we will report against in our 2021/22 Annual Report. The KPIs shown below relate to our performance against the strategic objectives that were in place throughout the 2020/21 reporting year.
Actively manage our assets to drive sustainable outperformance against our commercial targets
Under the Crown Estate Act 1961, we have a duty to maintain and enhance the value of our portfolio and the return obtained from it, with due regard to the requirements of good management. Our two commercial targets underpin our strategy and support this obligation. They are measured through net revenue profit growth and outperformance against our peers on a total return basis.
Our 2020/21 targets
Growth in net revenue profit:
- 4% annualised growth in net revenue profit on a three-year rolling basis
Total return:
- Outperform our MSCI bespoke total return benchmark on an annualised three-year rolling basis
KPIs – How we performed this year
-6.5%
Annualised reduction in net revenue profit on a three-year rolling basis
5.7 percentage
points *
Relative outperformance on an annualised three-year rolling basis of our bespoke total return benchmark
*Excluding the valuation effect of Offshore Wind Leasing Round 4, our outperformance of the benchmark was 0.7 percentage points.
Nurture a high-performance culture and reputation as a ‘Great place to work’
Understanding the drivers of our people’s satisfaction and delivering against these is vital to attracting and retaining the best talent.
Our annual One Voice survey tracks employee engagement, enabling us to identify success as well as areas for improvement.
Our 2020/21 targets
Employee engagement:
- Outperform the UK national benchmark* for employee engagement of 78% (2020/21)
*Provided by Willis Towers Watson
KPIs – How we performed this year
84%
of our employees think The Crown Estate is a ‘Great place to work’
Build ever stronger relationships through high levels of customer and partner satisfaction, loyalty and recommendation
We are committed to delivering high levels of customer satisfaction and to being a leader in our sector. This is a measure that is fundamental to our business success.
We regularly engage with our customers to understand their needs, implement priority findings and anticipate future trends.
Our 2020/21 targets
Customer satisfaction:
- Outperform the Institute of Customer Service benchmark of 76.8% (January 2021)
KPIs – How we performed this year
86%
of our customers are ‘satisfied’ or ‘very satisfied’
Be a leading responsible and resilient business which thinks long term
We aim to create social, environmental and financial value, both now and in the future, by acting responsibly and sustainably in everything we do.
This includes balancing the needs of all our stakeholders and improving the way we operate to create an environment and culture where our people, customers, supply chain and visitors feel supported, safe and secure. Reducing carbon emissions is critical to becoming a net zero carbon business by 2030 and climate positive thereafter.
Our 2020/21 targets
Health and safety:
- 10% improvement in Incident Severity Score (incidents and significant near misses) against a three-year rolling average
Carbon emission intensity:
- We have developed a more accurate methodology to calculate our emissions intensity. As part of our net zero carbon roadmap we are setting Science‑Based Targets which will determine a target for this KPI
KPIs – How we performed this year
19%
outperformance of our Incident Severity Score target of 10% improvement against a three-year rolling average
34%
reduction in carbon emissions intensity against a 2019/20 baseline
