Gerald Eve has committed to removing more carbon than it produces by the end of 2030, becoming what is thought to be the first UK real estate firm to make a “carbon negative” pledge.
Its approach, which was agreed by the board at its March meeting, will apply to all of the firm’s operational and advisory activities.
An action plan detailing practical measures to achieve this target will be published in the autumn, supported by annual reviews to track its progress.
Gerald Eve’s decision comes after Microsoft made a similar pledge in January earlier this year. Software business Intuit has also vowed to become carbon negative, outlining plans to cut emissions by 50 times more than its carbon footprint by the end of the decade.
Simon Prichard, senior partner at Gerald Eve, said: “Real estate is central to the challenge of decarbonisation, and our carbon negative pledge shows both the seriousness with which we take this issue and the optimism we hold for what can be achieved with radical thinking.
“Through our own actions and the advice we give to clients we all have a role in the fight against climate change, and this pledge is part of our wider commitment to do all we can to play our part.”
Tom Marshall, sustainability lead at Gerald Eve, said: “Our declaration of a climate emergency and subsequent commitment to being carbon negative by 2030 demonstrates the seriousness with which we take the threat posed.
“Put simply, we choose to go beyond net zero because it is the right thing to do. Developing and implementing the action plan to achieve this target will not be easy, but we know that we have the tools to do something remarkable. This is a critical pillar of how we do business, and we look forward to sharing what we learn with our clients and the wider real estate sector along the way.”
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