Workspace Group PLC ("Workspace") is pleased to announce the publication of its Net Zero Carbon Pathway, outlining its plans to become a Net Zero Carbon Business by 2030.
The announcement follows a review of Workspace’s business and value chain emissions and marks a significant acceleration of the commitments previously made as part of the Better Building Partnership (BBP) Climate Change Commitment to deliver a net zero carbon real estate business by 2050.
Workspace will focus its efforts on decreasing operational and embodied carbon emissions in line with approved science-based targets, aligned with the goal of limiting global warming to 1.5°C. The Company has committed to disclosing progress against this pathway on an annual basis, as well as sharing asset level energy performance and developing a climate change resilience strategy in line with the Task Force on Climate-Related Disclosure (TCFD).
Workspace is well placed to achieve its net zero carbon goal. Through its rolling refurbishment and development programme, Workspace aims to retain existing structures wherever possible, transforming them into modern buildings whilst saving on embodied carbon. This rolling programme has already transformed Workspace’s portfolio, which now has 12 BREEAM rated energy efficient assets. An example of Workspace’s successful refurbishment programme is at Chester House, Kennington Park, where the Company cut the building’s whole lifecycle carbon emissions by almost 25% by refurbishing rather than demolishing and rebuilding the property.
Furthermore, Workspace’s close relationship with its customers provides it with a unique opportunity to collaboratively drive down emissions, whilst the in-house facilities management team provides greater control over operational energy consumption.
Coinciding with the publication of Workspace’s Pathway to Net Zero, the Company is also pleased to announce its inclusion on the 2020 CDP A-List this year, reflecting its leadership position in climate transparency and action.
Karen Jamison, Head of Sustainability at Workspace, said: "By outlining a clear pathway to becoming a Net Zero Carbon Business by 2030, we are making a real commitment to playing our part in tackling the climate emergency. Our action plan recognises the impact that buildings can have on carbon emissions and outlines specific measures to reduce our carbon footprint, including ensuring that all new developments and major refurbishments have electric heating and cooling systems, as well as installing solar PV systems where possible to enable on-site renewable energy generation.”
Notes to Editors
About Workspace Group PLC:
Established in 1987, and listed on the London Stock Exchange since 1993, Workspace owns and manages some 4 million sq. ft. of business space in London. We are home to London’s brightest businesses, including fast growing and established brands across a wide range of sectors. Workspace is geared towards helping businesses perform at their very best. We provide inspiring, flexible work spaces in dynamic London locations.
Workspace (WKP) is a FTSE 250 listed Real Estate Investment Trust (REIT) and a member of the European Public Real Estate Association (EPRA).
Workspace® is a registered trademark of Workspace Group Plc, London, UK.
Access the original press release here.