TH Real Estate has pledged to cut the energy intensity of its worldwide property portfolio by almost a third by 2030 in the latest effort to increase its sustainability efforts and reduce the impact of climate change.
The investment manager, responsible for over 200 properties in Great Britain, has committed to a 30% reduction based on a 2015 baseline as part of its 'Tomorrow’s World' approach to sustainability.
Energy intensity will measured by the use of kWh across TH Real Estate’s 134 million square foot portfolio. Energy efficiency will form a critical part of the company’s efforts to reduce carbon emissions from its real estate, benefiting tenants through reduced energy bills in the process.
TH Real Estate’s new commitment is in response to the goals for sustainable real estate established at the COP21 climate conference in Paris at the end of 2015, which play a part in limited global warming to at least 2 degrees.
Abigail Dean, TH Real Estate’s head of sustainability, said: “This target is in line with current industry interpretations of climate change science, and means that our business is playing its part in the global movement to limit global warming to 2 degrees and strive towards 1.5 degrees, as agreed in the Paris Accord. Over time, we will continue to review our targets to ensure they meet global best practice.
"Our sustainability efforts have been a focus of our platform since its creation and are an integral part of the Tomorrow’s World investment philosophy which sits at the core of our investment process and operations."
This strategy seeks to prepare the company for the rapidly changing demands on the private sector to invest and act responsibly towards climate change.
Energy intensity is a rapidly growing concern for many commercial property managers, particularly with regards to the operational cost savings possible through reducing consumption.
The Climate Group’s EP100 campaign, which requires firms to commit to improving their energy productivity, recently welcomed Land Securities as its first property business member. The company has pledged to double its energy productivity over the next two decades from 2014 levels.