UK property fund manager Moorfield Group has committed to being “operationally net zero carbon” by 2030.
The company said in a statement that the move represents the latest and most significant phase of its long standing sustainability strategy and says it reflects the critical role that the real estate industry has to play in mitigating climate change.
Moorfield’s initial targets are: 100% of electricity is to be sourced from renewables by 2030; to have an implementation plan for installing photo voltaic panels on all viable roof spaces by 2022; assess energy consumption for more than 90% of its tenants by 2022; to have climate change adaptation and resilience plans for all of its assets by 2025.
Moorfield said its environmental vision is to eliminate carbon emissions under its control across its investment portfolio. It says that this will be achieved by working with third parties, by sustainably designing, constructing, operating and investing in net zero-ready buildings. And Moorfield will use an environmental management system aligned with the International Standards Organisation 14001 standard to help it realise its ESG ambitions.
The company said in a statement that since 2016, it has reduced its like-for-like emissions by 37% and energy consumption by 8%.
Moorfield Group CEO Marc Gilbard said he believes current events will accelerate the real estate industry’s desire to have a more positive social and environmental impact. “The real estate industry must take its place in the global climate conversation and be both responsible and proactive,” Gilbard said.