Global real estate company Hines has set a goal for net zero operational carbon across all buildings by 2040, without buying offsets.
Operational carbon refers to greenhouse gases that are emitted while operating a building.
Hines intends to achieve the target by reducing emissions through the implementation of renewable technologies and sustainable initiatives throughout its portfolio of 1,530 properties in 285 cities across 28 countries.
It will work to electrify fossil fuel-based systems within its buildings, use circular systems principles to reduce energy waste and boost system efficiency and pursue both onsite and offsite renewable energy.
Hines is also establishing agreements with third-party partners to provide data to track progress on energy consumption and ongoing emissions reductions.
Jeff Hines, Chairman and Co-chief Executive Officer of Hines said: “As the impact of climate change is becoming increasingly integrated into our lives every day, the real estate industry has a responsibility to acknowledge this growing problem and take meaningful action to reduce our collective carbon emissions.
“By seeking to achieve net zero operational carbon without relying on offsets, Hines wants to raise the bar for sustainability and invest in a plan designed to achieve significant and tangible results.”