Redevco has committed to making its multi-billion-pound portfolio net zero carbon by 2040.
The pan-European real estate investment manager’s Mission 2040 campaign seeks to deliver energy-efficient buildings fully powered from renewable energy sources.
It has approximately 300 assets under management, with a total portfolio value of around €7.5bn (£6.4bn), focused on urban retail destinations across Europe.
The campaign will require all of its developments to achieve a BREEAM excellent rating.
Redevco has selected four initial buildings for the initiative spanning retail, residential, and an inner-city shopping centre.
It will achieve its net zero carbon targets by improving the buildings’ fabric and working in collaboration with tenants.
The company has also invested in on-site renewable energy generation.
Clemens Brenninkmeijer, head of sustainable business operations at Redevco, said: “Our sector, responsible for more than 30% of global energy consumption, has a responsibility to find solutions and reduce carbon emissions.
“Redevco wants to lead by example and show the industry what it means to act responsibly. It starts with us. We need to minimise our impact on the climate and the Earth’s resources.”
For more about how the real estate sector is responding to climate change, vist EG’s Sustainability Hub
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