The Crown Estate has become the latest landlord to commit to becoming a net zero carbon business by 2030.
The landed estate, which also manages seabed around England, Wales and Northern Ireland, is also committing to optimising the green energy potential of the seabed, decarbonising its existing real estate portfolio by reducing embodied carbon, improving energy performance and by procuring 100% renewable energy.
It will also champion a comprehensive approach to sustainable investment through the application of the TCFD framework and setting an internal carbon price.
Targets will be reviewed annually, with a detailed plan to drive progress to be completely fossil-fuel-free as soon as possible.
Chief executive Dan Labbad said: “The impacts of Covid-19 and the wider volatility we face today only underline the importance of businesses like ours stepping up with purpose, pace and ambition to address systemic challenges facing our society and environment. This cannot wait and we make our commitment to net zero today, knowing that we don’t have all the answers. We understand there will be big challenges to solve along the way and to succeed we will need to rapidly innovate in areas like technology and digital, to think differently about how we optimise the green potential of the seabed, as well as find new solutions by collaborating with our many customers and partners who share our ambitions.”
He added: “We are committed to investing to support our goal and pushing ourselves to work as hard and as fast as we can towards it, adjusting accordingly if we need to, as we better understand the opportunities and challenges further in the years ahead.”
The firm has also committed to the newly launched NABERS UK scheme and will focus on making sure that all new developments reach the highest ranking possible.
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