Canary Wharf is the first commercial district in the world to have its environmental targets approved by the Science Based Targets Initiative.
Canary Wharf Group (CWG) has launched new emissions targets for the next decade, as part of its environmental strategy. Approved by the Science Based Targets Initiative (SBTI), the goal it aligned with the 1.5°C future and will be followed by a net zero pathway to be published later in 2020.
CWG is one of the first 37 UK businesses to have approved SBTI status within the initiative and only the second major property developer to have verified and agreed targets.
Science-based targets provide companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions.
In its latest sustainability report, Together We Can, CWG said it wanted to ‘build back better’ from the COVID-19 pandemic, focusing on collaboration with tenants and suppliers to tackle emissions.
The targets include the commitment to rapidly accelerate the uptake of Science Based Targets amongst its key suppliers in construction, building management and related service industries.
- The new targets include commitments to:
- Reduce emissions by 65% by 2030
- Ensure 60% of its suppliers will have Science Based Targets by 2025
- Achievements announced in the Report include:
- First commercial centre in the world to gain Plastic Free Communities status in 2019
- 100% renewable electricity purchased since 2012
- Zero waste to landfill from managed areas since 2009
- 34% reduction in overall emissions since 2012
- Over three million pieces of single use plastic removed or recycled in 2019
- Almost £3m in donations and in-kind support to local community in 2019
Shobi Khan, Chief Executive Officer, said: “As we emerge from the COVID-19 crisis, there is an unprecedented opportunity to come back greener and smarter. We want to play our part in a healthy, resilient, zero carbon recovery that prevents future threats, creates decent jobs, and unlocks inclusive, sustainable growth.
“I am proud of what our team has achieved, and especially our pioneering work on reducing plastic and zero waste to landfill – gaining plastic free status in the last year.
“We have a unique opportunity to help drive change alongside everyone who calls Canary Wharf home. We are determined to work together to go even further to help improve our environment and shape a better world.”