Explore how we are shaping a more sustainable future in our 2023-2024 Sustainability Report. Discover our progress, initiatives, and the measurable impact of our ESG efforts across all markets.
2023-2024 Sustainability Report
The industry has to change – starting today...
Commercial real estate has a huge impact on emissions. Nearly 40% of the global carbon footprint is caused by the built environment, but planning for change by 2050 isn’t enough. Spaces designed and built today must be part of the solution, and we know we have to pull our own weight.
Therefore, we’ve committed to decarbonisation targets that have been validated by Science Based Targets initiative (SBTi), which recognises them as being consistent with the Paris Agreement to minimise global warming and the EU ambition for Europe to be the first climate-neutral continent by 2050.
Our decarbonisation targets
- Our near-term goal is to reduce 42% of Scope 1 & 2 emissions by 2030 and 25% of Scope 3 emissions across the value chain by 2030.
- Our long-term goal is to reduce at least 90% of our total footprint by 2050 (both near- and long-term reduction goals are from our baseline year of 2021).
Embodied carbon targets
- <400kgCO₂/m² upfront embodied carbon for new EU developments by 2030
- <475kgCO₂/m² upfront embodied carbon for new UK developments by 2030
- <750kgCO₂/m² whole lifecycle carbon for new developments by 2030
- A 30% embodied carbon reduction for current projects in design, compared to projects delivered between 2019 and 2022
Operational carbon targets
- New developments will reduce base building energy use by 20%, targeting just 55 kWh/m² GIA (Gross Internal Area) by 2030
- The operational target for whole building energy use is 90 kWh/m² GIA (Gross Internal Area) by 2030
- 5.0* NABERS by 2025 (valid only for the UK)
- 5.5* NABERS by 2030 (valid only for the UK)
- Zero fossil fuel use (unless necessary, e.g. backup generator)
Corporate emissions targets
- A 4.2% reduction every year
- A 42% reduction by 2030 compared to our 2021 baseline
- 100% transparency in our reporting
Our net-zero carbon approach
We are making whole lifecycle carbon reduction our business
We recognise the long-term value of low energy and carbon efficient developments. Our integrated business model gives us a great deal of influence over how we can reduce carbon emissions at each stage of our projects. By making our value chain greener, we can develop best-in-class workspaces that positively impact the environment and our occupants.
We’ve set out our clear decarbonisation targets and strategy as we continue to reduce our environmental impact. Take a look below to find out more about our six step approach:
Our sustainable developments
All assets acquired, developed and managed by us are within the scope of our net zero carbon commitment. Here are some of our projects that are part of the solution facing the industry – and the planet – when it comes to creating a sustainable built environment.
PLTFRM.Berlin: Targeting net zero carbon in operation
We take our responsibility to the environment very seriously and PLTFRM.Berlin is designed to be as self-sufficient as possible.
PLTFRM.Berlin’s sustainable design significantly reduces its dependence on conventional energy sources by operating entirely on 100% renewable energy. The building incorporates over 2800 sq m of photovoltaic panels, which cover 34% of its energy needs. Additionally, the building utilizes waste water heat pumps to provide efficient heating and cooling, contributing to its overall environmentally-friendly approach.
Worship Square: A planet-friendly project a decade ahead of its time
Every decision at Worship Square has been made with sustainability in mind. Not just the building, but how it’s designed to help occupiers achieve their own goals and help employees actively reduce their own carbon footprints.
Worship Square is an all-electric building, using air source heat pump technology, on-site photovoltaics and renewable electricity providers.
We have committed to science-based decarbonisation targets
What does this mean?
We’ve set out our decarbonisation targets and strategy as we continue to reduce our environmental impact. We are proud that the Science Based Targets initiative (SBTi) has validated our targets, recognising them to be consistent with the Paris Agreement to minimise global warming and the EU ambition for Europe to be the first climate-neutral continent by 2050.
The SBTi requires participants to take significant steps to reduce their overall emissions throughout the value chain. This includes:
- Determining a baseline year through accurate emissions calculations
- Aligning near-term targets with the 1.5°C minimum increase plan set out by the Paris Agreement
- Committing not to use carbon offsets or avoided emissions as part of near-term reduction targets
- Reducing the majority of total emissions by 2050 as a long-term target
By having the SBTi validate that our decarbonisation commitments fall in line with this pathway, we can be confident our strategy fits with the latest climate science.
Discover more about our decarbonisation targets validated by SBTi.
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and WWF. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.