Landsec aiming to become net-zero business by 2030, sets 1.5C science-based target
Commercial real estate firm Landsec has launched an updated sustainability strategy for its carbon emissions, aiming to become a net-zero business by 2030 and reduce its absolute carbon emissions by 70% as part of a 1.5C science-based target.
The company has reduced carbon intensity in its portfolio by 39.8% since 2014 and looks set to surpass a 40% target that was set as part of its previous science-based target.
The target has been approved by the Science Based Targets initiative (SBTi) and the 70% reduction will be measured against a 2014 baseline.
The company will reduce the amount of energy to run buildings across its portfolio and install renewable onsite technologies such as solar. Landsec’s energy intensity target aims to achieve a 40% reduction by 2030.
Landsec’s director of corporate affairs Caroline Hill: “Landsec’s net-zero target may be set at 2030, but we’re making tangible changes to the way we do business now. We’re progressing our first net-zero building at 105 Sumner Street, we have solar PV installed on nine of our assets and we have set a new and stretching science-based target.
“It’s imperative that businesses set ambitious sustainability strategies which are in line with up-to-date climate science.”
Science based targets
The science-based target is part of a package of new commitments from Landsec to help them reach the net-zero status. The company will also introduce the calculation of a shadow price of carbon for all investment decisions, continue to reduce emissions associated with construction activities and all future developments will be net-zero schemes.
Landsec will also attempt to avoid high-carbon-intensity materials such as traditional steel and concrete and seek to use recycled content and low-carbon materials like engineered timber.
edie recently spoke to Landsec’s sustainable design and innovation manager Nils Rage, who explained how cooperation with suppliers was helping Landsec decarbonise its buildings. You can read the piece here.
More companies are targeting more ambitious goals, either through the SBTi or via the World Green Building Council’s (WorldGBC) call for companies in the built environment to tackle embodied carbon.
The WorldGBC issued a new report outlining how companies in the sector can focus on both operational and embodied carbon to reach net-zero emission buildings by 2050.
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