Hibernia REIT PLC Joins BBP’s Climate Commitment


Tags: Net Zero News

Hibernia REIT PLC has today signed up to the Better Buildings Partnership’s industry leading Climate Commitment, as the first non-member signatory, after launching their Net Zero Carbon Pathway. This takes the number of signatories to the Commitment to 25, with over £375bn combined AUM and 11,000 properties globally. 

Hibernia REIT plc is an Irish real estate investment trust, with a property portfolio of c.€1.4bn. Its mission is to improve the built environment, whilst providing long term returns for shareholders and benefits to all stakeholders. Hibernia REIT has committed to only owning and developing net zero operational carbon assets by 2030; reducing carbon emissions from owned and developed assets and establishing an internal carbon pricing mechanism to help fund carbon reduction measures. It will also advocate for market transformation towards net zero utilising different means that target supply chain, customers and tenants. Hibernia REIT recently launched its Sustainability Statement of Intent, which sets out its targets to 2030. 

The BBP Climate Commitment was launched in 2019 and requires signatories to publish net zero carbon pathways and delivery plans, disclose the energy performance of their assets and develop comprehensive climate resilience strategies. To support signatories, last year the BBP published a Net Zero Carbon Pathway Framework, and has an ongoing programme of work to support its members on their journey to Net Zero Carbon. 

The BBP encourages all property owners to establish Net Zero Carbon Pathways and become signatories to the Commitment. 

Sarah Ratcliffe, CEO, Better Buildings Partnership said: “It is fantastic to see Hibernia become a signatory to the BBP Climate Commitment, most especially as they are the first non-member to do so. The Climate Commitment was designed to drive market transformation through transparency and the Net Zero Carbon Pathway published by Hibernia provides an excellent insight into how they will deliver on their overall ambition to become a net zero carbon and climate resilient business by 2030.’ 

Neil Menzies, Director of Sustainability, Hibernia REIT PLC said: “Hibernia is taking action on climate change and has committed to becoming a net zero carbon business by 2030 in line with the growing expectations of our stakeholders. To strengthen our commitment, we have decided to sign up to Better Buildings Partnership Climate Commitment, joining like-minded organisations to drive the agenda collaboratively.” 


Note to Editors 

The BBP 

The Better Buildings Partnership (BBP) is a not for profit collaboration of the UK’s leading property owners who are working together to improve the sustainability of the UK’s existing commercial buildings. The organisation's aim is to deliver market transformation through sustainability leadership and knowledge sharing across the UK property industry. The BBP currently has 40 members who represent in excess of £250bn Assets Under Management (AUM). 

BBP Climate Commitment 

Signatories of the BBP Climate Change Commitment include Aberdeen Standard Investments, Aviva Investors Real Estate, British Land, Bruntwood, Canary Wharf Group, DWS, Derwent London, Frasers Property, Great Portland Estates PLC, Grosvenor Britain & Ireland, Grosvenor Europe, Hammerson PLC, Hermes Investment Management, Hibernia, Landsec, LaSalle Investment Management, LGIM Real Assets, Lendlease Europe, Low Carbon Workplace, M&G Real Estate, Nuveen Real Estate, Schroder Real Estate Investment Management, SEGRO, Transport for London, The Crown Estate, Workspace Group PLC