Grosvenor’s Climate Action Plan: Net-Zero Emissions by 2050
Grosvenor Pledges Aggressive Emissions Reduction Targets in North America
Real estate developer Grosvenor, known for its legendary projects in the United Kingdom, is making a bold move to tackle climate change in North America. With a “reductions-first” approach to slashing emissions, the company aims to achieve a 42% reduction in emissions by 2030 and a 90% reduction by 2050 from a 2021 baseline.
In a new report, Grosvenor outlines its plan to prioritize reduction-related improvements before turning to renewable energy generation and procurement, and eventually investing in carbon credits as a last resort. The company sees clear benefits in capital investments in sustainability upgrades, which will lead to lower utility expenses and allow them to stay ahead of carbon-related legislation.
To reach its 2030 target, Grosvenor will need to achieve net-zero for Scope 1 and 2 emissions, while cutting Scope 3 (embodied) emissions by 40%. The company’s newly published North American net-zero pathway includes actions such as deploying renewable energy solutions, using green building materials, and developing programs to reduce emissions from tenants and suppliers.
One of the biggest challenges for Grosvenor will be decarbonizing its supply chain, according to Tanja Milosevic, the company’s associate vice-president of sustainability in North America. The company is working with suppliers to set targets and work towards reducing emissions.
Grosvenor is also focused on building electrification, particularly in British Columbia where renewable energy is abundant. Projects like the Brentwood Block in Burnaby will feature electrification for heating, cooling, and appliances, along with electric vehicle infrastructure.
With sustainable practices at the forefront of its projects, Grosvenor is pushing for LEED Gold certification for its upcoming Mayfair West mixed-use community in Vancouver. The developer is blazing a trail in North America with its ambitious emissions reduction targets and commitment to a sustainable future.
