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Net Zero at Grosvenor

Our Goal: Net Zero
One of the most effective ways we can minimise our impact on the environment, and future-proof our business activities, is to reduce the carbon emissions of our real estate portfolio.  

In 2019, we were one of the first signatories of the Better Buildings Partnership and World Green Building Council net zero carbon commitments. Our commitment is to ensure buildings within our direct control will operate at net zero carbon by 2030, and all buildings (directly and indirectly managed) to achieve embodied and operational net zero carbon by 2050. 

In 2020, we launched our net zero carbon strategy, which will guide us to our first target in our net zero journey. Our aim is to reduce our total carbon emissions by 50% by 2030. 

This strategy was approved by the Science Based Targets Initiative (SBTi) in early 2021, and verified in line with the most ambitious trajectory of the Paris Agreement, to limit global warming to 1.5 degreesC.

 

How will we reach net zero?
The first target in our net zero carbon journey is to reduce our total carbon emissions by 50% by 2030. To do so, we will focus on three areas: 

Cutting energy use in buildings by a third; 
Cutting the embodied carbon intensity of our developments by 50%; and 
Cutting the carbon intensity of purchased goods and services by at least 60%.  

Net Zero infographic

Energy use in buildings
We will reduce energy consumption in our buildings by an average of a third between 2020 and 2030. We will ensure that the energy use intensity of our assets aligns with industry-leading net zero carbon definitions. We will implement measures to reduce energy consumption in landlord areas and conduct net zero carbon audits to identify initiatives to improve the fabric of buildings and tenant areas. We will develop green lease clauses, tenant engagement plans and improve sub-metering to address tenant consumption. 

 

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