We have committed to achieving a net zero carbon portfolio by 2030 and have set out clear targets to reduce both the embodied carbon in our developments and the operational carbon across our portfolio.
We have a long track record of delivering sustainable space and this a clear competitive advantage for our business as more and more of our customers prioritise sustainability. In 2020, we set out our Pathway to Net Zero, identifying the steps we would take to deliver on our net zero commitments. Since then, we have made significant progress, as outlined below.
Reduction in operational carbon intensity (offices) vs 2019
Reduction in embodied carbon across our office developments vs 2019 industry benchmarks
Embodied carbon
- Since 2020, all developments net zero embodied carbon at practical completion.
- From 2030, we will reduce the whole life carbon in new developments by 50%.
Operational carbon
- By 2030, we will reduce the carbon associated with our operations by 75%.
- By 2030, we will improve whole building energy efficiency of existing assets by 25%.
- By 2030, all new developments will operate in line with the UKGBC 2030 targets.
- New developments will design out fossil fuels where possible.
- Beyond 2030, our long term aim is that our portfolio performs in line with the UKGBC's Paris Proof 2050 targets.
a. A1-A3 refers to The Product Stage, the sourcing of materials, transport to manufacturing plant and fabrication processes. A4-A5 refers to The Construction Stage, the transport from plan to site and on site construction and installation, including waste disposal.
b. B1-B5 refers to In Use, including emissions arising during the use of the building, maintenance, repair, replacement, refurbishment.
c. A minimum 25% improvement in energy intensity is targeted. When the Net Zero Audits of the portfolio are complete, these asset-specific paths to Net Zero Carbon will provide asset-specific reduction targets for our 2030 programme.
d. Interim figure, will be updated following the publication of the UKGBC’s Paris Proof Energy Performance Targets for Retail.
