Reducing our Emissions
Our goal as a business is to be zero carbon. Transitioning to a low carbon economy has never been more important than it is now, and we’re responding by driving energy efficiency across our operations. We have been ISO 50001 Energy Management certified since 2015 and we are continuing to take steps to reduce our energy use across our portfolio.
In 2019, our carbon emissions across CWG dropped by 5% to 30,818 tCO2e (2018: 32,442). This is thanks to energy efficiency upgrades across our operations, a significant fall in diesel usage, and supported by the decarbonisation of the grid. In 2019 we continued to replace light fittings with LEDs, as well as reviewing the timing and operations of our Building Management Systems (BMS).
Based on a like-for-like comparison to our 2018 portfolio, energy consumption per occupant across our managed office buildings fell by 8.61%, energy consumption per 1,000 visitors across retail fell by 13.55%, and energy use per m2 in infrastructure rose by 8.95%* compared to 2018. In 2019 we carried out an energy savings opportunities assessment of our flagship building One Canada Square in order to better understand where further improvements can be made. The output from this is being rolled out across all our managed buildings.
In our construction arm, we closely monitor each site’s energy usage and carbon emissions. After a successful trial in 2019, we will be bringing in live data tracking and dashboards for each project in 2020. Across CWC, our carbon emissions decreased by 3.5% compared to 2018.
* The 2018 data for Infrastructure has been restated due to improved data availability.
Setting Challenging Targets
We are pleased to launch our approved Science Based Targets, ratified by the Science Based Targets Initiative (SBTi) in June 2020, which we are using to drive carbon reductions across all our activities and those of our tenants and the wider Canary Wharf Group community.
- Canary Wharf Group commits to reduce absolute Scope 1, 2 and 3 GHG emissions from downstream leased assets by 65% by 2030 from a 2017 baseline.
- Canary Wharf Group commits that 60% of its suppliers by emissions covering purchased good and services will have Science Based Targets by 2025.
These emissions targets follow the market-based approach as recognised by SBTi and are dependent on both Canary Wharf Group and our tenants switching to 100% renewable electricity by 2030. We will also be investigating our natural gas supply throughout our portfolio, which, in addition to electricity, makes up a significant portion of our overall emissions. For CWG to achieve our longer-term net zero target, a renewable alternative to natural gas will need to be established in our existing portfolio and our proposed developments. In 2019 we signed the Better Buildings Partnership Climate Change Commitment, furthering our commitment to reducing our impacts and striving for a zero carbon future. As part of this commitment we will be publishing our own net zero pathway in 2020, and we will publicly report progress annually. Both our Science Based Targets and our net zero pathway will be used to drive carbon reductions across all our activities and those of our tenants and the wider Canary Wharf Group community.
100%
Electricity purchased from renewable sources since 2012
13.55%
reduction in energy usage per 1,000 visitors in retail space in 2019
5%
reduction in overall carbon emissions in 2019
