A Roadmap to Absolute Zero Carbon

I'm delighted to share the Lendlease Europe Roadmap to Absolute Zero Carbon which you can download here: https://www.lendlease.com/better-places/roadmap-to-absolute-zero-carbon/ . As an investor, developer, builder and manager of property, Lendlease's carbon footprint extends right across the built environment value chain. From the production of materials that go into our buildings, the fuels we use on our construction sites, to the energy used to heat, light and power offices, homes and amenities over many decades. All of these need to be cut if we are to play a meaningful part in keeping the global temperature within a tolerable 1.5 degrees C above pre-industrial levels.

We believe that doing a bit better is not good enough, and nor will relying on offsets - paying to move the challenge somewhere else. We have set a global target to achieve Net Zero Carbon for Scopes 1 and 2 - essentially the fuels we burn and the electricity we procure - by 2025. We will minimise these carbon emissions as far as possible, and deal with any residual emissions by buying independently accredited offsets from 2025. But that is not our goal. We believe that the kind of transformation we need to see will only be achieved with a very different mindset. That's why we've set a target of Absolute Zero Carbon by 2040. To be clear, that's all carbon emissions - including those arising from our materials supply chain - eradicated within 20 years. We're not yet sure how we are going to get there, and the one thing we can be certain about is that we cannot get there on our own, but our mission is clear. I'd like to urge you - our peers, partners and competitors - to come with us, because all of our futures depend on it. That's a New Year's Resolution like no other.