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Commercial property firm makes commitment for net zero carbon by 2030
Published July 6, 2020
One of the UK’s largest commercial property firms, British Land, has announced ambitious goals to achieve net zero carbon across its entire portfolio by 2030.
In order to meet its target and help drive progress, alongside its new Sustainability Strategy, the company has also launched a Transition Fund to drive investment, both into new developments and retrofits. An internal fee of £60 per tonne of carbon, which will be levied on new developments, shall support the Fund and help drive further investment into low-carbon projects.
As part of its approach to a net zero carbon portfolio, British Land aims to reduce embodied carbon by 50%, as well as reduce operational carbon intensity by 75% against 2019 baselines. In addition, while the company will be prioritising retrofits over new builds, all of its new developments starting from this year will deliver 100% net zero embodied carbon.
Over the past five years, British Land has successfully reduced energy intensity by 55% (73% against 2009 baselines) and embodied carbon emissions by 16%. Now, the company is looking to further slash its emissions of both embodied and operational carbon in order to deliver on its 2030 target.
