To ensure credibility and transparency in our approach, we have developed our net zero carbon pathway so that it aligns with the Better Buildings Partnership Net Zero Carbon Pathway Framework and The UK Green Building Council’s (UKGBC) net zero carbon hierarchy.
Our main commitment
We have committed to be net zero carbon for our operational and embodied emissions by 2040. By 2040, all operational emissions are reduced as much as possible through energy efficiency measures and renewable energy, with any residual emissions offset.
From 2040 onwards, all completed refurbishment projects will have reduced their embodied and operational carbon as much as possible, with any residual emissions offset upon practical completion.
Achieving net zero carbon
We have defined our portfolio’s baseline carbon footprint, using 2019 as the most representative recent year, to map the emissions reductions required to meet our 2040 target. As with similar property companies, the majority of our emissions (76%) relate to the energy consumption of our occupiers. Although not included in the baseline year assessment, embodied carbon associated with refurbishment activity has been projected for future years and is a key part of our commitment.
We will continue to implement energy efficiency measures across the portfolio in order to meet energy intensity targets. We will also investigate on-site renewable energy opportunities and procure remaining energy requirements from high-quality renewable sources.
For refurbishment projects we will employ circular economy principles, so reducing waste and demand for raw materials by keeping resources in the value chain for as long as possible. Our target is to reduce emissions on major refurbishments to 300 kgCO2e/m2.
Finally we will source high quality carbon offsets, aligned with the Oxford Principles for Net Zero Aligned Offsetting. We have also become a signatory to the Better Buildings Partnership Climate Commitment and will report annually on our progress with more information available in our Sustainability reporting