Developer Edge has announced an immediate 50% cut in carbon emissions of all new projects, as it moves towards absolute zero carbon.
It has committed to making all its newly announced developments net zero carbon, with the ultimate goal being to reduce all scope 1, 2 and 3 emissions, including the embodied and operational emissions of its buildings to absolute zero by 2050 or earlier.
In addition to new developments, its pledge also covers the corporate emissions of its 140 staff.
Founder and chief executive Coen van Oostrom, who is also real estate industry co-chair at the World Economic Forum, said: “Climate change is the biggest challenge of our time. That’s why we decided 25 years ago that our buildings should be part of the solution rather than the problem.
“By thinking not just about how we build but also how our buildings are used and how we ourselves operate, we can commit to being one of the first property companies to reach net zero and present a clear timetable for achieving zero carbon emissions.
“We believe the real estate industry should be accountable for its actions. We call on our partners, collaborators and innovators in other industries to join us in taking action to build better, greener and for the future.”
Edge’s net zero carbon pathway commits to:
- Reducing the embodied and operational carbon emissions of all newly announced Edge projects by at least 50%, resulting in an upfront embodied carbon target of max. 500 kgCO2e/m2 and a landlord operational energy target of 25 kWh/m2/yr. All residual emissions will be offset for newly announced projects. All emissions related to corporate operations will also be offset.
- By 2030 reducing the carbon emissions associated with Edge corporate operations by at least 50% compared to the pre-Covid 2019 baseline in line with the 1.5-degree roadmap. All projects will be at least within the 50% reduction pathway, if not more. The remaining offsetting requirement will be cut in half compared with 2022.
- By 2050 carbon emissions will be reduced to absolute zero with no offsetting.
Van Oostrom added: “In meetings with fellow members of the Alliance of CEO Climate Leaders at the World Economic Forum, it was clear we need to take quick and decisive action to meet the Paris climate agreement targets.
“At Edge we will continue to rethink and innovate – from materials mining and smart sensor technology to addressing scope 3 emissions and the tenant experience. We believe success relies on cross-industry co-operation towards radical change.
“From now on we are halving all carbon emissions of our newly announced projects. And while we are currently using offsets, we do not see these as a viable solution to our climate problems and are totally committed to reducing our reliance on them to zero.”
Edge’s first net zero project will be Edge London Bridge (pictured), which is scheduled to be delivered in 2025.
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