Four companies join the WorldGBC Net Zero Carbon Buildings Commitment – including first African signatory.
The World Green Building Council (WorldGBC) welcomes four new and existing signatories to the updated Net Zero Carbon Buildings Commitment: Africa Logistics Properties, EVORA Global, Investa and QIC Office Fund.
LONDON – 9am GMT, 30 March 2022 – WorldGBC announces four companies as signatories to its Net Zero Carbon Buildings Commitment (the Commitment), including the first African signatory, signalling global industry leadership to decarbonise the built environment and combat climate change.
The Commitment now has a total of 163 signatories, which includes 129 businesses and organisations, 28 cities, and 6 states and regions.
The businesses and organisations signed up to the Commitment now account for approximately 6.5 million (tCO2e) of portfolio emissions annually and nearly $350 billion annual turnover.
These businesses are displaying industry leadership in the built environment, committing to reduce and compensate all operational emissions for assets over which they have direct control.
As part of the updated Commitment, they will also maximise embodied carbon emissions reductions for new developments and major renovations by 2030, as part of a whole lifecycle approach.
Included within this announcement is the first African Commitment signatory, Africa Logistics Properties (ALP). ALP represents growing leadership from companies across Africa who are advancing net zero principles, an increasingly important goal following the Middle East & Africa Green Building Congress 2022 and as we build toward COP27 in Egypt later this year.
WorldGBC’s Africa Regional Network is engaging with Green Building Councils (GBCs) and companies across the region to accelerate the uptake of net zero buildings and sustainable built environments for everyone, everywhere.
Africa Logistics Properties are specialists in integrated property investment and development. Based in Nairobi, ALP has a dedicated team of international and local professionals with track records in the delivery and management of grade-A logistics and distribution facilities across Africa and emerging markets. The ALP management team has developed over 1.5 million square metres of modern warehousing in emerging markets over the last 10 years. ALP will work to decarbonise operational emissions from existing assets whilst achieving maximum reductions of embodied carbon for future developments and renovations as part of a whole lifecycle approach. Read their Commitment Profile here.
EVORA Global is a professional real estate sustainability consultancy with their own ESG software, SIERA. Since their inception in 2011, they have grown from three founding partners to a team of over 150 passionate and empowered professionals. Their vision is to accelerate the adoption and evolution of real estate sustainability to enhance the wellbeing of the planet and its people. Their mission is to make buildings productive, profitable, and resilient to change. EVORA are upgrading their pledge in line with the updated Commitment to take action on whole life carbon and continue to provide industry leading sustainability consultancy services to clients, accelerating the industry transformation. Read their Commitment Profile here.
Investa is a leading Australian owner, manager and developer of market-leading workplaces and destinations, creating high-value opportunities for investors, businesses, and communities. They are committed to cultivating a culture of integrity and ethical values, while delivering high performance results. As the first Australian real estate business to make a commitment to net zero emissions, Investa’s pathway to net zero includes implementing energy efficiency improvement and electrification programmes; renewable energy procurement strategies; and reducing fossil fuel sources across the portfolio. Investa will apply the Green Building Council Australia (GBCA) climate positive pathway for standing assets and developments. Read their Commitment Profile here.
QIC Office Fund (QOF) is QIC’s flagship office fund and currently consists of a quality portfolio of Brisbane CBD office assets which are positioned to provide secure income streams. QOF’s strategy is to construct a diversified portfolio of well-located and high-quality Australian office assets which will meet the future needs of office tenants and workplaces. With a 26% reduction in energy intensity achieved since 2015, QOF will continue to implement their decarbonisation roadmap to improve existing asset performance through energy efficiency measures to reduce energy demand (consumption) and sourcing renewable energy to meet its remaining energy needs. QIC is a long-term specialist manager in alternatives offering infrastructure, real estate, private capital, private debt strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$101bn (US$73bn) in funds under management. QIC has over 800 employees and serves more than 120 clients. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, San Francisco and London. Read their Commitment Profile here.
As the leading initiative focused on climate action in the built environment, the Net Zero Carbon Buildings Commitment continues to grow exponentially, complementing initiatives such as the Race to Zero, Science Based Targets and The Climate Pledge. The Commitment’s signatories take action to reduce and compensate for all portfolio operational carbon emissions by 2030 or earlier, and maximise reductions of embodied carbon in new developments or major renovations, compensating for any residual emissions. Signatories demonstrate annual progress via reporting and verification protocols.
The Commitment is recognised as a frontrunner initiative, and therefore signatories as frontrunners in the Race to Zero. Commitment signatories are going further and faster to tackle operational and embodied emissions from their real estate assets, stimulating the innovative approaches, solutions and business models necessary for the entire sector to reach 2050 goals. For eligible signatories, the Commitment acts as a pathway to membership of the global EP100 initiative from the Climate Group, bringing together energy-smart companies doing more with less energy, in order to lower emissions and improve their productivity.
Cristina Gamboa, CEO of the World Green Building Council:
“I’m delighted to announce the latest group of signatories to the Net Zero Carbon Buildings Commitment. These companies are displaying industry leadership to decarbonise their assets further and faster, contributing to accelerated industry transformation in the #RaceToZero.
‘WorldGBC is extremely excited to welcome the first African signatory, ALP, illustrating the growing demand for sustainable built environment practices in Africa. Following on from last week’s Middle East & Africa Green Building Congress 2022, and as we are #BuildingToCOP27 in Egypt, WorldGBC is eager to celebrate African leadership in the built environment.”
Richard Hough, CEO, Africa Logistics Properties (ALP):
“ALP is determined to move from a low carbon to a zero carbon developer because it is both the right thing to do for all our stakeholders and because, as a long term investor in our modern industrial buildings it is the only viable commercial path for our company.”
Sonny Masero, Chief Strategy Officer, EVORA Global:
“In the last two years, EVORA has seen a transformational change in the priorities for investing in and financing of real estate development, ownership and refurbishment. Climate change risks now matter in these decisions. Across the whole life of buildings they create 38% of global energy-related carbon emissions. EVORA works with our clients, who manage over $1tn AUM, to address their climate risks; to reduce emissions, comply with regulations and to understand the dynamic nature of physical climate change. The Net Zero Carbon Buildings Commitment is timely because real estate has to be transformed this decade. The clock is ticking as we deplete our available carbon budget – we have to halve whole life buildings emissions by 2030 or be prepared for more extreme and more frequent physical climate change that will disrupt and damage our building stock, with financial implications.”
Pete Menegazzo, Chief Executive Officer, Investa:
“I am delighted that Investa is now a signatory of the WorldGBC Net Zero Carbon Buildings Commitment – sustainability is embedded deep in our culture with every team accountable for creating a positive social and environmental impact in the communities we operate as well as achieving outperformance for our investors and asset owners. Investa continues to be recognised for our leadership in ESG, and this is testament to our ongoing commitment to transforming real estate through sustainable buildings, thriving communities, and resilient investments.”
David Higgins, Senior Portfolio Manager, QIC Office Fund (QOF):
“The QIC Office Fund is a proud signatory of the Net Zero Carbon Buildings Commitment, following in the wake of other QIC funds and further cementing QIC’s commitment to best sustainable practices. As a responsible, future-focused real estate investor, we recognise that environmental performance not only drives long-term sustainable outcomes for our investors, tenants and assets, but also empowers resilient and healthy communities for future prosperity.”
Rebecca Moir, Marketing and Communications Manager, WorldGBC
The Net Zero Carbon Buildings Commitment comes from Advancing Net Zero, WorldGBC’s global project to accelerate uptake of net zero carbon buildings to 100% by 2050. The project works with the global Green Building Council network to develop tools and resources, including net zero carbon buildings certification schemes and training programmes.
The Commitment has been partly funded by We Mean Business, along with Laudes Foundation, IKEA Foundation and the European Climate Foundation as part of the #BuildingLife project.
The Commitment was launched in September 2018 at the Global Climate Action Summit. It promotes and inspires leadership action on an advanced trajectory from business, governments and NGOs, to scale up responses to net zero carbon buildings through corporate and policy action.
The Commitment is recognised as a frontrunner initiative and signatories as frontrunners in the Race to Zero, Commitment signatories are going further and faster to tackle operational emissions from their real estate assets, stimulating the innovative approaches, solutions and business models necessary for the entire sector to reach 2050 goals.
See the full profiles of company signatories and what they are committing to here.
About the World Green Building Council
The World Green Building Council (WorldGBC) catalyses the uptake of sustainable built environments for everyone, everywhere.
Transforming the building and construction sector across three strategic areas — climate action, health & wellbeing, and resources & circularity — we are a global action network of more than 70 Green Building Councils around the world.
As members of the UN Global Compact, we work with businesses, organisations and governments to drive the ambitions of the Paris Agreement and UN Global Goals for Sustainable Development. Through a systems change approach, our network is leading the industry towards a net zero carbon, healthy, equitable and resilient built environment.
EP100 is a global initiative by the Climate Group, bringing together a growing group of energy-smart companies committed to doing more with less to improve their energy productivity. Members are driving tech innovation and reducing emissions while making substantial cost savings and improving competitiveness – inspiring others to follow their lead. EP100 is delivered in partnership with the Alliance to Save Energy and in association with the World Green Building Council’s Net Zero Carbon Buildings Commitment. #EP100
Signatories of the Net Zero Carbon Buildings Commitment also include leading state and regional governments in the Under2 Coalition, of which the Climate Group is Secretariat.