Landsec has achieved a place on the CDP climate change 'A-List', the global environmental impact disclosure group, for the third year running. Of the 8,361 companies who disclosed through the CDP climate change programme in 2019, only 179 were awarded an A score. Landsec is the only UK REIT to hold an A rating.
Edward Dean, Sustainability Director, Landsec, said: 'This result reflects Landsec's ambition to mitigate the impact of climate change by setting and achieving stretching targets informed by the latest climate science. We are very pleased to be recognised by CDP as leaders in environmental sustainability.'
Landsec recently pledged to become a net zero carbon business by 2030, announcing:
A new science-based target, aligning carbon reduction to a 1.5 degree pathway of global warming. The externally approved science-based target will see Landsec reduce absolute carbon emissions by 70% from a 2014 baseline over the next ten years.
The introduction of a shadow price of carbon for all investment decisions. Landsec's Investment Committee will therefore be able to see the carbon cost, as well as the financial cost of commercial decisions, enabling the business to drive investment decisions towards lower carbon outcomes.
The reduction of the carbon emissions associated with construction activities, with all future developments being net zero schemes. This includes careful analysis and selection of every raw material. The business will aim to avoid materials with a high carbon intensity, such as traditional steel and concrete, instead using materials with a high recycled content or with an inherently low carbon profile, such as engineered timber.
The reduction of the amount of energy used to run buildings across the Landsec portfolio and install renewable power sources, such as solar PV, where possible. Landsec's energy intensity target aims to achieve a 40% reduction by 2030.
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Land Securities Group plc published this content on 27 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2020 13:49:04 UTC
Land Securities Group PLC is a United Kingdom-based real estate company. The Company builds and invests in buildings, spaces, and partnerships to create sustainable places, and connect communities. The Company has a portfolio of retail, leisure, workspace, and residential hubs. Its segments include Central London, Major retail destinations (Major retail), Mixed-use urban neighbourhoods (Mixed-use urban) and Subscale sectors. The Central London segment includes all assets geographically located within central London. The Major retail segment includes all regional shopping centers and shops outside London and its outlets. The Mixed-use urban segment includes its investments in mixed-use urban places. The Subscale sectors segment consists of leisure, and retail parks. Its properties include Mayfield, The O2 Centre, Lewisham Shopping Centre, Dashwood, 30 Eastbourne Terrace, The Zig Zag Building, Gunwharf Quays, Buchanan Galleries, and 30 Eastbourne Terrace, among others.