A global real estate company has cut its scope 1 & 2 emissions by 53% in just one year, for its Europe operations, by decarbonizing its fuel use and energy procurement (Data as on - 7 Dec 2022). The company creates and invests in communities, workplaces, retail, and infrastructure projects.
It achieved this remarkable feat by switching to low carbon non-fossil fuels on construction sites, powering business with renewable electricity; and starting decarbonization of its heating networks across its development portfolio.
Scope 1 and 2 emissions occur at sources owned or controlled by a company, whereas scope 3 emissions are a consequence of the activities of the company but happen at sources not owned or controlled by it.
Globally, the built environment or the building sector is responsible for about 40% of emissions due to the heavy use of steel and concrete. Scope 3 emissions account for around 99% of the sector`s carbon footprint.
The company is committed to tackling Scope 3 emissions by using a variety of approaches including the use of low-carbon steel, concrete, and aluminium products on new developments.
To know more visit our ESG page.
