Grosvenor Britain & Ireland (GBI), one of the leading commercial property companies in the UK, is taking bold steps towards becoming the country’s first carbon-neutral property company. The company is accelerating its climate strategy by implementing its “why wait” policy, aiming to complete its ‘Net Zero Carbon Pathway’ five years ahead of schedule.
To achieve this ambitious goal, Grosvenor plans to mitigate all remaining emissions by 2025 through offsetting. This includes reducing and mitigating emissions across all aspects of the business, such as corporate operations, building management, development projects, and the value chain. By offsetting its full environmental impact, the company aims to reach carbon neutrality by 2025.
This strategy will not only have an impact on Grosvenor itself but also on its tenants. The company is encouraging retailers who rent its properties to prioritize eco-friendly practices. Starting from this year, Grosvenor will offset all corporate emissions and ensure that all new developments are designed to be net zero upon completion.
In addition to these commitments, Grosvenor has set a target of achieving a 52% reduction in emissions between 2019 and 2030. CEO James Raynor emphasizes the urgency of global emissions reduction, stating that to reach the Paris target of limiting climate warming to 1.5 degrees, emissions must be cut by over half by 2030. Raynor believes that offsetting, coupled with robust emission reduction strategies, is a crucial tool in achieving net zero. He highlights the need for action and taking responsibility for current emissions.
Grosvenor’s proactive approach to addressing climate change showcases its dedication to sustainability and responsible business practices. By fast-tracking its climate strategy and committing to carbon neutrality, the company is setting an example for the property industry and encouraging other companies to take bold action in the fight against climate change. As the UK’s first carbon-neutral property company, Grosvenor is leading the way towards a greener and more sustainable future.
Useful Links:
1. [Net Zero Carbon Pathway](https://www.grosvenor.com/about-grosvenor/our-vision/net-zero-carbon-pathway) target=”_blank”
2. [Paris Agreement](https://unfccc.int/process-and-meetings/the-paris-agreement/what-is-the-paris-agreement) target=”_blank”
