As leaders in Irish real estate, it is our responsibility to play our role in the Paris Agreement’s international effort to limit global warming to 1.5C
We are committed to owning assets operating at net zero carbon within areas of direct control by 2030; and developing assets that reduce the amount of embodied carbon in construction and that operate at net zero carbon by 2030.
The path to net zero is about long-term resilience, which can only come from having an authentic and holistic approach to sustainability. This keeps us committed to managing the risks and opportunities posed to ensure our portfolio is positioned to perform and remain attractive to our occupiers for years to come.
Our net zero pathway sets out the steps we are taking to reduce carbon emissions in our developments and operations. Where we cannot reduce emissions any further, we will responsibly offset to achieve net zero carbon.
Embodied carbon emissions from our development projects are the largest contributor to our carbon footprint. We are aiming for a 40% reduction in embodied carbon emissions by 2030.
We have set ambitious targets to improve energy intensity in both the landlord-managed and occupied areas of our assets.
We are already designing and delivering all-electric development and procuring 100% renewable electricity for areas within our direct control. We see great opportunities to generate renewable energy within our assets and engage with our occupiers to support their renewable electricity procurement too.
We are following best practice when offsetting through the voluntary carbon market and will support carbon removal projects that are well-managed, credible and where the additional impact is verified.
Our net zero journey also requires us to innovate and embrace new ways of collaborating with stakeholders to enhance our overall impact.
This fund is financed from the proceeds of an internal carbon levy of €80 per tonne of embodied carbon emissions generated in our developments.
This levy attaches a meaningful financial incentive to reduce the largest emissions category within our direct control and to ensure that net zero carbon targets are embedded into decision-making across the business.
Through engaging with our supply chain and occupiers, and using our dedicated carbon champion, we will discover and implement innovative solutions and support behaviour change in our developments and operations. We will embrace and contribute to the industry’s evolution, helping to protect our city and environment for future generations.
The path to net zero is about long-term resilience, which can only come from having an authentic and holistic approach to sustainability. This keeps us committed to managing the risks and opportunities posed to ensure our portfolio is positioned to perform and remain attractive to our occupiers for years to come.
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