Net Zero 2030
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
Our net zero commitment
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.
Our pathway to net zero carbon
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.
Delivering the pathway
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.
Delivering the pathway
Reducing embodied carbon
Embodied carbon emissions from our development projects are the largest contributor to our carbon footprint. We have made great progress in reducing embodied carbon across our developments by retaining the existing structure at 25 North Wall Quay and using timber instead of steel at Unit 4, Quantum Logistics Park.
Delivering the pathway
Reducing building energy intensity
We have set ambitious targets to improve energy intensity in both the landlord-managed and occupied areas of our assets. We have achieved a 28% reduction in energy use intensity since 2019 by optimising, retrofitting and repositioning our assets.
Delivering the pathway
Increasing renewable energy
We are already designing and delivering all-electric development and procuring 100% renewable electricity for areas within our direct control. We have 108,176 sq m of all-electric buildings in operation across the portfolio and want to increase the on-site generation of renewable energy within our assets and engage with our occupiers to support their renewable electricity generation and procurement too.
Delivering the pathway
Offsetting our residual emissions
We are following best practice when offsetting through the voluntary carbon market. We also want to create Irish carbon offsets that are well-managed, credible and where the additional impact is verified.
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Enabling change
Our net zero journey also requires us to innovate and embrace new ways of collaborating with stakeholders to enhance our overall impact.
What?
We are applying an internal carbon levy of €80 per tonne of embodied carbon emissions generated in our developments.
When?
The transition fund was established in January 2022.
Why?
To promote sustainable construction and operational practices within our supply chain.
How much?
The transition fund accrued €3 million in 2022.
Enhancing our impact
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.
Our pathway to net zero carbon
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.
