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#NZCBCommitment roundup: February 2024

28 February 2024

Net Zero Carbon Buildings Commitment signatories are taking accelerated action to decarbonise their portfolios and the built environment, today. Read more on their latest Advancing Net Zero developments below.


Bruntwood finalises a £480 million sustainability driven financial package

Read Bruntwood’s Commitment profile here.

Bruntwood SciTech received a three year financial package to support its growth and sustainability ambitions worth £480 million. The conditions of the loan are inherently linked to the company’s environmental, social and corporate governance (ESG) commitments. The package is based on a year-on-year carbon intensity reduction, embodied carbon reduction across new build developments, an increase in renewable energy procurement, and improving new buildings’ Energy Performance Certificate (EPC) ratings.

The loan bolsters Bruntwood’s decarbonisation ambitions, which include all new developments being net zero operational and embodied carbon in communal areas. This is part of a company-wide goal of reaching a net zero target by 2050.

This financial package will allow Bruntwood to continue its industry leading path and commitment towards net zero.


Perkins&Will unveil new sustainable studio in Boston 

See Perkins&Will’s Commitment profile here.

Perkins&Will have designed a new sustainable studio that reduces carbon emissions by 76%. The studio is a collaborative design that encompasses sustainability, resilience and wellbeing. The studio occupies a full floor in a 1960’s Brutalist tower in the heart of Boston’s Financial District. 

Significant embodied carbon reductions have been achieved by sourcing materials locally, reusing 62% of existing furniture, opting for engineered hardwood flooring and ensuring all key finishes had Environmental Product Declarations (EPDs). By considering the design and layout of the office, such as the specific orientation of desks to the windows, lighting power density has lowered to 34% below baseline.

The studio has earned LEED Gold and Fitwel certifications owing to its conscious design. This new workspace embodies Perkins&Will’s commitment to a circular and sustainable future. 


Multiplex was chosen to revamp One Exchange Square in London to reach high sustainability and wellbeing standards

See Multiplex’s Commitment profile here.

Multiplex was selected as the main contractor for the construction of One Exchange Square — a state of the art 447,000 sq ft office development in London. 

The asset will have 50% lower embodied carbon than a normal new build office of this size, which will be achieved by retaining 90% of the existing structure. This will save approximately 7,600 tonnes of CO2e when compared to the Greater London Authority 2030 target. The building will be 100% electric, use intelligent façade design and manage operational energy use by twinning mechanical services with building management systems.

The structure is set to hold high environmental performance ratings and exemplifies Multiplex’s commitment to a sustainable built environment.


Grosvenor’s North American property business improved its GRESB scores

See Grosvenor’s Commitment profile here.

Grosvenor is an international property owner and developer, which had an active year in 2023 and made significant advancements regarding its net zero ambitions. Commercial real estate had a challenging year due to the new interest rate environment, but Grosvenor still accomplished improved Global Real Estate Sustainability Benchmark (GRESB) scores in 2023.

GRESB is an annual report that monitors ESG progress across thousands of companies and Grosvenor’s North American property business managed to retain a 4 Green Star rating for its development team. This placed Grosvenor at an impressive 12 points above its benchmark average. Its Investment team also received a 12-point increase from the company’s initial submission in 2021.

The company also significantly improved some of its assets, including Toshiba’s three building office in San Jose, California. Grosvenor and Toshiba are committed to goals aligned with the Paris Climate Agreement. Grosvenor has advanced the installation of a considerable solar panel array at Toshiba’s three building office. The long term project is expected to achieve a 91% usage offset at two of the buildings and a 55% usage offset at the third while also using recycled water and other sustainability initiatives.

With achievements like this, Grosvenor is putting its commitment to action and championing net zero across North America. 


Stanhope makes high quality material available for reuse

Read Stanhope’s Commitment profile here.

Stanhope is set to lead the major refurbishment of 1 Victoria Street in London. In preparation, the developer is stripping out the building and rather than sending materials and products to landfills, Stanhope has teamed up with Reusefully to give a second life to these materials. These items can be viewed on the Excess Materials Exchange

Across the globe, various reuse projects have witnessed between 40%—70% carbon emissions savings in comparison to new builds. The built environment produces approximately one-third of the world’s waste and by allowing third parties, such as developers and designers, to acquire these secondhand materials for projects, waste is dramatically reduced as well as the ensuing embodied carbon in other projects.

1 Victoria Street is being repurposed and 60% of the building’s structure is being retained. This will significantly lower the embodied carbon footprint of the project. 

Stanhope is playing its part in creating a sustainable built environment by refurbishing and repurposing 1 Victoria Street and making significant amounts of secondhand products available for reuse. 


Sidara are pioneering sustainability through innovative finance and global collaboration

See Sidara’s Commitment profile here.

Sidara is a global collaborative of architecture, engineering, and consulting brands. The collaborative is making strides through pragmatic financial strategies and a commitment to environmental responsibility. Sidara’s recent collaboration with Emirates NBD to secure a $50 million Sustainability Linked Loan (SLL) underscores a proactive approach and positions Sidara as an early leader in the green finance market in the Middle East and North Africa (MENA) region.

Beyond financial endeavours, Sidara’s commitment to a net zero future is evident as a significant proportion of the loan is dedicated to supporting its transition to net zero operations. The collaborative is decarbonising its operations, providing sustainability advisory services and making practical contributions to a more sustainable future. 

Sidara is playing a pivotal role in mitigating environmental challenges and advancing the built environment towards net zero.


Find out more about our Net Zero Carbon Buildings Commitment here.