19 Mar 2020
During the Group Townhall a few weeks ago, we shared our sustainability goals and what we need to do to achieve these goals. One of our goals is to achieve net-zero carbon emissions by 2050. We are not alone in our transition to net zero carbon. The governments of all the countries Frasers Property operates in signed the Paris Agreement committing to net zero carbon by 2050. At the World Economic Forum held in January this year, climate action was a key theme as CEOs across the globe were asked to commit to achieving net-zero carbon emissions by 2050 or earlier. In the last couple of months, many companies have come forward to articulate their carbon emission commitment.
As a real estate company, we are taking a pragmatic approach and the Group will focus on the typical hierarchy of de-carbonisation, which starts with creating assets that produce less carbon in their construction and operation through good passive design, energy efficiency initiatives and use of lower carbon-intensive construction practices. Beyond this, de-carbonisation is achieved through on-site renewable energy if and where possible, followed by the purchase of off-site renewable energy and carbon credits for any residual carbon emissions. We also need to be aware that given the government and business ground swell in this regard, lower carbon solutions will become available over time – solutions that we are not yet aware of today.
While the businesses are all working through their respective roadmaps to build to zero, some are already a little further along the curve – FPA has committed to achieving net-zero carbon by 2028 and FPUK aims to attain net-zero carbon in all landlord-controlled areas by 2030. We will share updates on our progressive journey.
March is Frasers Property’s Environment Month. This year, it is aptly themed “Build to Zero” – establishing our multi-year commitment to achieving net-zero carbon by 2050. It is an ambition I am convinced we can achieve if we all lay claim to this goal and each of us actively plays a part in getting us there.