Picton has published its Net Zero Carbon Pathway, setting out plans to decarbonise the business by 2040.
The pathway will address operational carbon, covering whole-building performance including occupier activities; embodied carbon within the REIT’s portfolio, including development, refurbishment and fit out; energy demand and energy efficiency.
Chair Lena Wilson said: “Picton’s net zero carbon pathway confirms our commitment to decarbonising our business in response to the damaging effects of climate change. Not only is this the right thing to do from an environmental perspective but it is also a necessary step in safeguarding our long-term resilience and overall business performance.”
The REIT, which was established in 2005, owns a £790m commercial property portfolio in the UK, invested across 46 assets with around 350 occupiers.
Picton has also signed the BBP Climate Commitment and will report annually on its progress.
Chief executive Michael Morris added: “While we have been measuring and reducing emissions since 2016, we now have a comprehensive and transparent plan to achieve net zero carbon, 10 years ahead of the target set by the UK government.”
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