Hammerson signs groundbreaking Climate Change Commitment
23 Sep 2019
To mark the start of World Green Building Week, Hammerson and 22 other leading commercial property owners have signed a groundbreaking commitment to tackle the growing risks of climate change through the delivery of net-zero carbon real estate portfolios by 2050.
Launched by the Better Buildings Partnership (BBP), the Climate Change Commitment has been signed by 23 of its members, including Hammerson. The signatories cover over £300bn AUM and +11,000 commercial properties globally, and are responsible for over 1.2 million tonnes of carbon emissions per annum.
The commitment was developed in response to a Better Buildings Partnership event attended by CEOs from the real estate investment industry earlier in the year. These senior industry leaders, including Hammerson's CEO, David Atkins, agreed that property owners need to take urgent, collective action to respond to the challenges of climate change and address the risks it poses to their investment portfolios.
As part of the agreement, Hammerson will continue to report annually on the progress towards Net Zero and disclose the energy performance of our portfolios, as found in our annual Sustainability Reports. This demonstrates a clear intention to improve transparency within the market.
Louise Ellison, Head of Sustainability at Hammerson and Chair of BBP, said “The BBP has always focused on enabling industry collaboration to deliver more sustainable outcomes. The Climate Change Commitment is an excellent example of this approach in action and, with so much support already, has the capacity to deliver lasting, valuable impact in the fight against climate change. I am delighted that Hammerson have been able to support the development of the Commitment and join with such an influential group of signatories to this important initiative.”
In 2017, Hammerson was the first property company globally to launch Net Positive targets for carbon emissions, water demand, resource use and socio-economic impacts by 2030 and these remain the most comprehensive and challenging sustainability targets across the industry. Hammerson has already achieved significant reductions in resource use; during the first half of 2019, electricity use was down -12%, gas use was down -21%, carbon use was down -13%, and water use was down -14%.
Read the full Climate Change commitment and learn about the other signatories on the BBP website.