26 April 2023
World Green Building Council (WorldGBC) welcomes four new signatories to the Net Zero Carbon Buildings Commitment (the Commitment): JTP, Powerhouse, QIC Active Retail Property Fund and QIC Australia Core Plus Fund.
LONDON – 9am BST, 26 April 2023 – Today, WorldGBC announces UK-based JTP, as well as Australia-based Powerhouse and QIC’s Active Retail Property Fund and Australia Core Plus Fund, have joined the Net Zero Carbon Buildings Commitment. These businesses are demonstrating their commitment to addressing the whole life carbon emissions of buildings, as well as taking actions to decarbonise their building portfolios.
The building and construction sector is one of the largest contributing sectors to climate change, responsible for nearly 40% of energy related emissions, significant materials and resource use, and one of the largest sources of waste generation. In order to keep a 1.5oC world within reach, the sector must urgently address its impact, and transition to providing healthy, energy-and resource-efficient, low carbon buildings.
Businesses signing up to the Net Zero Carbon Buildings Commitment are dedicated to eliminating operational emissions for assets over which they have direct control, as well as maximising embodied carbon emissions reductions for new developments and major renovations by 2030. Signatories are required to compensate for any remaining residual operational and upfront embodied carbon emissions as part of a whole lifecycle approach. Signatories demonstrate their annual progress via reporting and verification protocols.
Accelerated action from Commitment signatories to decarbonise the emissions associated with their buildings, and advocate for further reductions through their business activities, is stimulating the innovative approaches, solutions and business models needed to support the entire built environment sector to achieve decarbonisation goals.
Cristina Gamboa, CEO, World Green Building Council:
“I am pleased to welcome these four new signatories to WorldGBC’s Net Zero Carbon Buildings Commitment. Our Commitment now has a total 176 signatories, which includes 141 businesses and organisations that account for approximately 7.2 million (tCO2e) of portfolio emissions annually, nearly 20,000 assets and $400 billion annual turnover. These businesses and organisations are taking a leadership position to decarbonise the entire building and construction value chain by 2050, keeping the 1.5°C scenario alive.”
JTP is an award-winning international placemaking practice of architects and masterplanners with extensive experience in delivering successful projects for both private and public sectors throughout the UK. From studios in London, Edinburgh and Bristol, the business undertakes placemaking projects at every scale. JTP’s in-house Sustainability Champions help advocate for industry change, advising and encouraging clients to target net zero carbon standards. Read JTP’s Commitment profile here.
Powerhouse is Australia’s premier museum of excellence and innovation in applied arts and sciences. The Powerhouse Climate Action Plan 2022-2025 outlines the organisation’s commitments to reducing its carbon impact amongst other commitments and targets towards a more sustainable way of operating. By 2030, Powerhouse commits to going beyond net zero and operating climate positive sites. Read Powerhouse’s Commitment profile here.
QIC is a trusted investment manager and adviser providing risk-adjusted returns for the clients they serve. The QIC Active Retail Property Fund (QARP) and QIC Australia Core Plus Fund (QACPF) have an investment strategy to acquire, develop and manage property assets that are projected to provide, or can be positioned to provide, sustainable returns and consistent growth over the longer term. The QIC Property Fund (QPF), QIC Town Centre Fund (QTCF), and QIC Office Fund (QOF) are also signatories to the World Green Building Council, meaning all five of QIC’s property funds have now made this commitment. QIC takes a holistic approach to sustainability, which focuses on ensuring the resilience and adaptability of the businesses in which it invests, both for today and the future. Read QARP’s Commitment profile here, and QACPF’s profile here.
Rebecca Taylor, Partner, JTP:
“We are really pleased that JTP is now a signatory of WorldGBC’s Net Zero Carbon Buildings Commitment. Our goal is to create places that are socially, economically and environmentally sustainable. To this end we have taken steps to create a sustainable and enjoyable working environment; minimise the impact of how we work; and embed sustainability, resilience and design excellence throughout our projects. We believe that sustainability starts at home, so that is why we are committing to all our owned and occupied assets being net zero carbon by 2030 with offsetting reduced to a minimum through a detailed decarbonisation strategy.”
Lisa Havilah, Chief Executive, Powerhouse:
“The foundation of our response to climate change is drawn from the knowledge, understanding and ingenuity of First Nations peoples to care for the country in ways that are inherently sustainable. Taking an international leadership position on sustainability to address climate change is essential to Powerhouse’s renewal and expansion. As a new signatory to the Net Zero Carbon Buildings Commitment, Powerhouse is committed to achieving a net zero carbon reality and establishing Powerhouse as an international leader in sustainable museum practices.”
Charles Occhino, Fund Manager – Core Plus Strategies, QIC:
“QIC Real Estate’s Active Retail and Australian Core Plus Funds are committed to addressing the risks posed by climate change, which includes significantly reducing the carbon emissions generated through the operation of our assets via our net zero carbon targets. Becoming a signatory to WorldGBC’s Net Zero Carbon Buildings Commitment helps us to publicly demonstrate our commitment to this effort and support the transition of the broader property industry.”