Real estate equity: Net-zero carbon roadmap

The direct environmental, social and economic impacts of climate change are increasingly affecting many parts of the world. Avoiding a climate catastrophe is of paramount importance and represents a huge global challenge requiring concerted efforts by all parts of society.

As a global institutional investor, we have a responsibility and fiduciary duty to protect and generate value for our clients. It is our belief that sustainability sits alongside location, occupier, building size and building quality as a key factor in real estate value and performance, and its importance will only increase over time. This is about getting ahead of emerging policy responses to the climate crisis and seeking to safeguard our assets to create better quality, better performing real estate assets.

At the end of 2020, we published our real estate net-zero carbon roadmap, which laid out our strategy to transition our real estate portfolio to net-zero carbon. Through a series of practical case studies we aim to show the progress we are making across this portfolio. The implementation of this strategy will enable us to deliver on the commitments that we made in 2019 as signatories to the Better Buildings Partnership’s Climate Change Commitment, to achieve net-zero for all of our real estate equity assets by 2050 or sooner.

This update provides a summary of the progress made to implement our strategy since our roadmap was published and covers the work done up until the end of 2022. More details can be found in the delivery strategy section of this report.

Click here to read our full, updated net-zero carbon roadmap for real estate equity