Monday 18 October 2021

Grosvenor brings forward carbon-neutral target by five years

Property giant Grosvenor Britain & Ireland has announced it is fast-tracking its climate strategy by bringing forward its carbon-neutral goal by five years.

Under its Net Zero Carbon Pathway, the company previously committed to a 52% reduction in absolute emissions between 2019 and 2030 and now aims to become mitigate remaining emissions by through offsetting and becoming carbon-neutral across all scopes by 2025.

It aims to achieve the goal through investing in renewable energy projects, ecosystem restoration and carbon capture technologies.

James Raynor, CEO, Grosvenor Britain & Ireland said: “Globally, emissions need to be cut by more than half by 2030 if we’re going to stand any chance of meeting the Paris target of limiting climate warming to 1.5 degrees. To make that happen, we need to use every tool at our disposal. We must reduce emissions as fast as possible while taking responsibility for the emissions we - and our value chain - produce. And that means offsetting.

“We recognise the complexities of offsetting, but when governed robustly and alongside commitments to reductions in emissions, it is an important tool to achieving net zero. So, why wait? We need to get on with action and take responsibility for the emissions we’re generating right now.”