Lendlease Europe joins World Green Building Council’s ‘Net Zero Carbon Buildings Commitment’ on the back of a global commitment to absolute zero emissions by 2040.
Lendlease, the global property company, has set a precedent for its sector, addressing all material sources of emissions throughout its operations and supply chain – including suppliers, tenants and residents. Their target is a decade earlier than many corporate net zero targets.
This week the European branch of the global company has signed up to the World Green Building Council’s Net Zero Carbon Buildings Commitment. The commitment challenges businesses to reach net zero carbon in operation for every building under their direct control by 2030, and for all buildings to become net zero carbon in operation by 2050. The commitment builds on Lendlease’s announcement of a far-reaching new global target of becoming a 1.5 °C aligned company.
These commitments set the bar for the property sector in Australia as the group aims to achieve net zero carbon for scope 1 and 2 emissions by 2025, and absolute zero carbon emissions by 2040.
We have assessed the Lendlease commitment made in August this year as ‘fully aligned’, when measured against the goals of the Paris Agreement. It’s the first property company that we have assessed to meet this criteria.
The Net Zero Momentum Tracker is a Climateworks and Monash Sustainable Development Institute joint initiative to assess organisational climate commitments against the global ambition to limit temperature rise to well below two degrees Celsius.
This assessment finds that with a target to achieve absolute net zero emissions by 2040, Lendlease has satisfied the Tracker’s fully aligned criteria.
We look forward to seeing further detail on the scope of the absolute net zero by 2040 target, specifically around scope 3 emissions. We would also like to see further information around the specific emissions reductions activities and strategies, as well as the interim emissions reductions targets needed to meet these commitments.
Highlights:
- Net Zero Carbon for scope 1 and 2 emissions by 2025.
- Absolute Zero Carbon, eliminating all of its material emissions, by 2040.
How we assess momentum to net zero:
Fully aligned: Net zero by 2050 target for all material emissions.
Closely aligned: Net zero by 2050 target for most, but not all material emissions.
Aligned aspiration/pathway: Net zero by 2050 aspiration, or an aligned interim target.
Partially aligned: Net zero by 2050 target for a small proportion of emissions.
Not aligned: Undertaking emissions reduction activities, but these are not sufficient to reach net zero by 2050.
No target: No emissions targets or activities have been disclosed.
Learn more about our assessment methodology
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