COMMENT This has been a historic year on so many levels. Undoubtedly, the massive and ongoing impact of Covid-19 is the most drastic and obvious of these and its seismic impact continues to be felt right across our communities. Yet, in all the uncertainty and disruption of the pandemic, we can’t afford to lose sight of the looming and no less urgent crises facing our planet, climate, natural environment and ultimately society. These challenges, albeit less intrusive in most day-to-day lives, are no less urgent.
The US’s intention to rejoin the Paris Agreement starts to reforge a global consensus on climate change. Together with the ambitious 10-point plan for a green industrial revolution from government this month, we now have significant momentum behind the UK’s presidency of the COP26 climate conference in Glasgow in autumn next year.
When we consider the scale of the environmental crisis and with so much turmoil in the world today, it can feel hard to know where to start. But like many, I am clear that there is no “do nothing” option. Ultimately, this is the shared and existential challenge against which history will judge our generation.
We should be optimistic that together we can rise to the challenge and I take heart when I see people and communities across the world using the power of collective action to drive progress. The climate strikes were such a powerful message to leaders of just how important this issue is to the people of our country, especially our youngest citizens whose futures are most at stake. We are also beginning to see that same power of collective action taking root in a business community, which is increasingly seeking to make a difference, not just a profit.
That’s why I joined The Crown Estate, a business which touches so many parts of modern life, with a history and heritage rooted in the fabric of the country, and which has an important role to play in helping to shape the future. We have a responsibility to do more than grow the financial returns we generate for the nation. We also have a responsibility to help the nation meet the wider challenges it faces head on, including stepping-up with purpose and pace to address the environmental crisis.
So I’m delighted to announce our commitment to align our business to the 1.5°C climate scenario set out in the Paris Agreement, with a target to be a net-zero business by 2030 and climate positive thereafter.
The systemic crisis facing our climate does not stand alone; it’s matched by the existential crisis in our natural world and these cannot be looked at in isolation. As well decarbonising our portfolio across the country, we will seek new solutions to restore the natural world by providing and protecting habitats and taking action to remove carbon from the atmosphere.
By addressing ecological resilience and climate change together we will maximise the potential of the nation’s seabed as a source of clean energy and promote healthy seas and ecosystems; we will ensure Windsor Great Park and our rural portfolio reach their potential to help reinvigorate the nation’s ecological fabric; and we will find new ways to bring wildlife back to our places and cities.
Meeting this goal will be tough and we make this commitment today knowing that we don’t have all the answers. We cannot do this alone and we will need to work with our many customers and partners who share our ambitions. There will be big challenges to solve along the way and there’s so much to play for when it comes to innovation in technology and digital, where big strides will be needed.
What I do know, is that society will judge us not on the commitment we make today, but on how we deliver against it over time. That’s why we will be open about our progress and upfront, when we encounter challenges along the way. It’s why we are committed to investing to support our goal and challenging ourselves to work as hard and as fast as we can towards it, adjusting accordingly if we need to, as we understand the opportunities and challenges further in the years ahead.
We know we are not the only ones on this journey. Now, more than ever, we are all in this together. Only by collaborating, sharing, learning and encouraging each other in an open and honest way to do more and do better, we will forge a new future that will afford those who come after us, the opportunity to enjoy at least the same quality of life and hope that we do today.
Dan Labbad is chief executive of The Crown Estate
