Landsec has set out a five-step strategy for its pathway way to net zero by 2030.
The REIT, which was one of the signatories to the Better Buildings Partnerships’ Climate Commitment, has become the latest in a growing number of major real estate owners to publicise exactly how it plans to deliver on its stated mission to become carbon neutral before 2030.
Landsec’s pathway provides five key focuses for it to reduce its carbon emissions. For operational carbon, the group has set a target to reduce emissions by 70% by 2030 off a 2013/14 baseline for all buildings that have been in its control for at least two years. It will also seek to reduce its energy intensity by 40%.
In a bid to further enhance its green energy credentials the REIT, which has procured 100% REGO-backed electricity since 2016, said it would work towards moving some of this procurement to direct renewable projects. As part of that plan it will conduct feasibility studies for the installation of solar PV and battery storage across its estate. It aims to achieve a renewable energy capacity of 3mw by 2030.
To reduce its embodied carbon, Landsec has set a max carbon intensity across its supply chain of 900kg of carbon per m2 for new build commercial buildings, and 500kg for retail projects. A residential benchmark is yet to be set.
The group has also committed to signing up to third party verification and standards, such as the newly launched NABERS UK programme and BREEAM, and will use offsetting as a last resort.
Nick de Mestre, managing director of strategy, research and innovation at Landsec, said: “Landsec remains at the forefront of sustainability in the real estate sector. We know that our customers, partners and employees are rightly passionate about the impact we have on the planet. We are looking forward to continuing to work with the Better Buildings Partnership on the Climate Change Commitment and are pleased to have published our net zero carbon pathway.”
BBP chief executive Sarah Ratcliffe added: “It’s great to see Landsec setting out a more detailed delivery plan in its net zero carbon pathway. The steps they have detailed should help drive the action required to decarbonise the portfolio in a very meaningful way.”
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