Originally published by Lendlease here.

Lendlease Europe today announced it has reduced its Scope 1 and 2 carbon emissions by more than half over the past year, and the business also unveiled its social value approach, focusing on creating thriving and economically prosperous communities, which support and enhance people’s physical and mental wellbeing.
 
The company reported a year-on-year reduction of 53 per cent in Scope 1 and 2 emissions, from the fuels it burns and energy it procures, by switching to low carbon non-fossil fuels on construction sites, powering its business with renewable electricity, and beginning the process of decarbonising heating networks across the company’s development portfolio.

These figures were shared as Lendlease Europe published its second annual Mission Zero Progress Report. The report highlighted the promising progress made towards achieving the short and long-term milestones set out in Lendlease Europe’s Roadmap to Absolute Zero Carbon, which was released two years ago.

The global real estate and investments group has set itself stretching carbon targets; including a commitment to being a 1.5°C aligned company, achieving Net Zero for Scopes 1 and 2 by 2025 and Absolute Zero Carbon, across all Scopes, with no excuses and no offsets, by 2040.

As the company operates an end-to-end business model, which encompasses Investments, Development and Construction, Lendlease’s carbon commitments span the entire property lifecycle.

Approximately 99 per cent of its carbon footprint derives from Scope 3 emissions, of which the vast majority comes from the embodied carbon emissions in building materials. Lendlease shared how it is making headway to tackle this through innovative design and construction approaches and selecting lower carbon building materials.  

Key achievements highlighted in the progress report this year included:

• Construction related Scope 1 emissions were reduced by 64 per cent by switching over three quarters of their fuel to renewable diesel.
• 97 per cent of their electricity purchased across Europe was renewable; plus fossil fuel-free heating and cooling networks were designed for new projects.
• Low carbon steel, concrete and aluminium products were specified on their own developments and external client projects; and the business participated in industry groups driving decarbonisation of materials.
• A contribution to action research projects with the goal of accelerating mass timber construction in the UK and Italy as a founder Frontrunner member of Built by Nature.
• The development of strategies to reduce embodied carbon by 30 per cent on external client construction projects during work-winning, when measured against the original design.
• The company bolstered the existing A$800m raised in green bonds with a £250m debut green bond.

On their journey to Absolute Zero Carbon, the company is also committed to creating social value for communities.

Today Lendlease Europe unveiled its 'Thriving Communities’ report, detailing their long track record in creating positive impacts for the communities they work within since they began operating in Europe in the 1990s.

Those achievements include:

• 1,300 jobs supported for those most in need by the company’s not-for-profit employment vehicle, BeOnsite, since 2008.
• £36m of social and economic value created for the Elephant & Castle community in five years through the Elephant Park regeneration project.
• £5m spent purchasing from social enterprises since 2018.
• A €1.8m social impact investment vehicle created in Italy as part of the Treviso Hospital renovation project.
• 500 staff trained as Mental Health First Aiders since 2013.
• A$107.3m of social value created globally through the work of their corporate shared value partnerships and Lendlease Foundation programmes; putting them on track to achieve their global goal of creating A$250m by 2025

Lendlease’s approach to social value is guided by three focus areas; generating economic prosperity for communities, creating thriving communities where everyone is included, and supporting and enhancing people’s physical and mental wellbeing.

The company strives to deliver social value across all of its projects and assets; as well as through corporate shared-value partnerships and Lendlease Foundation programmes.

Going forward, the company is committed to consistently measuring the positive difference that their activities have on people’s wellbeing and society more widely.

Quote attributable to Neil Martin, Chief Executive Officer for Lendlease Europe: “The progress we’ve reported against our Mission Zero Roadmap this year demonstrates how we are acting with urgency to cut carbon emissions across our business, and we’ll continue to focus on reducing them further together with our suppliers and the wider industry. But our environmental impact is only one part of our corporate footprint, and I’m pleased to share our experience in creating social value for the communities where we work in Europe in our first ‘Thriving Communities’ report. Delivering on both our social and environmental commitments is key to our purpose of creating places where communities thrive, now and for generations to come.”

Quote attributable to Sarah Ratcliffe, Chief Executive Officer for the Better Buildings Partnership: “Lendlease’s update on its Mission Zero shows just how much can be achieved in the space of a year, with an impressive 53% reduction in Scope 1 and 2 emissions. While the challenge of Scope 3 looms large - constituting 99% of Lendlease’s emissions in 2022 - the variety of different approaches being employed at a project level make for encouraging reading, although there is still a long way to go. Alongside this, the publication of Lendlease’s ‘Thriving Communities’ report demonstrates a deepening understanding of value creation in a real estate context – the connections between the two revealing how a place-based approach to sustainability can deliver lasting impact.”

ENDS

Notes to editors

Reports can read here: 

• Mission Zero Progress
• Thriving Communities