Climate change is a major global challenge and will impact how business operates in the future. Given that the built environment contributes significantly to the UK’s overall carbon footprint, we must find the solutions to further reduce emissions and develop renewable energy sources.
Since our science-based targets were first verified in 2017 we have been working hard towards achieving net zero carbon by 2050. Following a review of our progress to date and the ever-growing need for urgent action on climate change, we have decided to bring this date forward by two decades. Derwent London is now committed to become Net Zero Carbon by 2030.
The scope of the commitment to a 1.5°C climate warming scenario includes emissions from activities where the business has direct control and those over which it has some level of influence, such as tenant energy consumption. Due to this, collaboration with occupiers, supply chain and the wider sector will be crucial.
To power business activities, both renewable electricity and gas will be procured and invested in. This will include opportunities to self-generate renewable energy from our land holdings in Scotland. The Group’s focus is on reducing emissions and using renewable energy, but where there is carbon that cannot be totally eliminated, this will be offset using certified schemes.
Each year Derwent London will disclose its progress against the metrics identified in the Pathway to ensure it remains transparent. It will also incorporate this net zero work into its non-financial assurance process.
Regenerating buildings is at the heart of the business which provides the Group with a significant opportunity to lead the sector in taking action to mitigate and adapt to climate change. This is part of how Derwent London designs, delivers and operates its buildings responsibly – and how it will also become a more resilient business in the long term. The Group recognises that this is a challenging commitment but the current global climate crisis means it is absolutely necessary.
Read more about our net zero carbon buildings: