Energy Efficiency, GHG Emissions - October 14, 2022
QuadReal Sets 2050 Goal
QuadReal Property Group is advancing an updated strategic pathway to decarbonize its portfolio by 2050.
The company’s net-zero strategy builds on its original 2016 mandate to achieve an 80% carbon reduction goal across its Canadian operations.
Since 2016, QuadReal has reduced carbon emissions across its Canadian portfolio and will accelerate and deepen its sustainability goals in both its Canadian and international assets.
“Sustainability has always been a key component of QuadReal’s investment and management strategies and is becoming more and more of a precondition for the long-term financial feasibility of our programs,” says Lucy Fletcher, Managing Director, Global Portfolio Management, QuadReal, in a statement. “As active managers, expanding our carbon reduction targets to net zero across our entire portfolio will allow us to meet and exceed our fiduciary responsibility to all our stakeholders and clients, and help lead the market in innovation and execution.”
QuadReal’s strategy includes reductions of Scope 1, 2 and 3 carbon emissions, with Canadian property-level plans to be in place by 2025. The company’s goal is a 50% carbon reduction of QuadReal’s directly managed portfolio (tracked emissions include all landlord utilities and QuadReal’s corporate emissions) by 2030.
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