How Grosvenor is outperforming its emissions targets

Grosvenor’s UK property business (GPUK) announces the results from its latest net zero carbon assessment, reporting it is outperforming its pathway.

Over a two-year period, it is reporting a 24% reduction in emissions across all scopes. While lockdowns have had an effect, the business’ net zero strategy was launched with the tools for success in place enabling it to quickly build momentum on key carbon reduction initiatives. This has enabled the business to double the pace of retrofits in 2022 and has seen its innovation programmes driving down emissions beyond expectations in development projects.

Accelerating momentum has meant deepening the company’s approach to collaboration. In 2022, Grosvenor is helping over 30 SME suppliers gain a science-based carbon reduction target through a pioneering mentoring programme. The potential benefits of success are extensive, and it will also see Grosvenor expand the number of suppliers reporting accurate emissions data to the business from 10% in 2021, to c35% by the end of 2022.

New ways of working with occupiers are being trialled and its new Circular Neighbourhoods programme brings businesses, residents and retailers together in a joint endeavour to improve environmental impact. The programme is running in Eccleston Yards, a high profile transformation of derelict industrial buildings in Grosvenor’s Belgravia portfolio encompassing over 70 properties. 

With an average energy use reduction of c35% already identified per building, the trial demonstrates how collaboration in a community can effect meaningful change in places and at scale. 

Tor Burrows, Executive Director, Sustainability and Innovation, Grosvenor said: “Reducing emissions across all scopes by nearly a quarter over two years is an incredible start to our decade of climate action. Having launched our net zero pathway with many of the tools for success in place, like our £90 million retrofit commitment, we’re now accelerating towards net zero. 

“Working increasingly closely with occupiers and suppliers has enabled us to effect greater change. We’ll continue to look for collaborations driving innovation that will help us urgently transform how we make and manage places to create a climate-resilient future.”