The World Green Building Council (WorldGBC) welcomes three new signatories to the updated Net Zero Carbon Buildings Commitment: ICD Brookfield Place, Precinct Properties and Vicinity Centres.
The Commitment now has a total of 172 signatories, which includes 138 businesses and organisations, 28 cities, and six states and regions. The businesses and organisations signed up to the Commitment now account for approximately 7.3 million (tCO2e) of portfolio emissions annually, nearly 20,000 assets and more than $427 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, compensating for any remaining residual upfront embodied carbon emissions as part of a whole lifecycle approach.
Cristina Gamboa, CEO of the World Green Building Council:
“I’m delighted to announce the latest group of signatories to WorldGBC’s Net Zero Carbon Buildings Commitment, including the first signatory from New Zealand.
These companies are displaying industry leadership to decarbonise their building assets further and faster, contributing to industry transformation in the #RaceToZero. It is more crucial than ever that industry leaders step up and take accelerated action within their local markets, paving the way forward and encouraging mainstream uptake of net zero buildings.
You can read more stories of action from Commitment signatories in the 2022 Advancing Net Zero Status Report.”
These three companies have joined the Net Zero Carbon Buildings Commitment:
ICD Brookfield Place sets the benchmark for the modern workplace in the UAE. The company has placed an emphasis on changing lifestyles, wellbeing, and environmental and productivity needs of the workplace of tomorrow. ICD Brookfield Place is the region’s premier lifestyle and business destination with over 4 acres of highly curated dining, retail and community spaces alongside 990,000 square feet of modern workspace. They have set high standards, committing to reducing all operational carbon emissions by 2030 and maximising embodied carbon reductions where applicable. Read ICD Brookfield Place’s full Commitment profile here.
Precinct Properties is the largest owner and developer of premium inner-city real estate in Auckland and Wellington, New Zealand, with a portfolio of 18 properties valued at $3.3 billion. Precinct is committed to creating a more sustainable environment. They recognise their role as a long-term owner and developer of real estate and are taking an active approach to climate action. They have committed to achieving net zero operational emissions across their portfolio by 2030 and maximise reductions of embodied carbon in new developments and major renovations. Read Precinct Properties full Commitment profile here.
Vicinity Centres is one of Australia’s leading retail property groups, reimagining the way Australians live, work and play. They own and manage some of the most recognisable and loved retail destinations across Australia, including 60 assets under management, and are evolving to transform their portfolio into destinations that offer a broad selection of retail, residential, and office spaces.Vicinity Centres believe in creating value through innovation and believe that the capability of data and insights will guide the way. The business has a strong sustainability focus and has committed to decarbonising its portfolio by implementing energy efficiency measures, electrification, increased on-site renewable generation and embodied carbon reductions. Read Vicinity Centres full 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.
Rob Devereux, CEO, ICD Brookfield:
“At ICD Brookfield Place, we pride ourselves on embedding sustainable solutions into every aspect of our business. Signing the World Green Building Council’s Net Zero Carbon Buildings Commitment reinforces our commitment to reaching net zero by 2030. This ambitious target will require dedication from not only our team but also our stakeholders across the value chain. We hope to inspire many others across the UAE to boldly take up meaningful action in decarbonising the built environment to ensure a better planet for future generations to come.”
Richard Hilder, Chief Financial Officer, Precinct Properties:
“Precinct is extremely pleased to have become a signatory and commit to the Net Zero Carbon Buildings Commitment. We recognise our role as a long-term owner and developer of real estate and fully support New Zealand’s transition into a low carbon economy. Announcing our commitment today further reinforces the importance of improving our operational performance further across our buildings and incorporating sustainable design across our assets. We look forward to working in partnership with the WorldGBC on leading and advancing the Net Zero Carbon Buildings Commitment.”
Grant Kelly, CEO and Managing Director, Vicinity Centres:
“I am delighted that Vicinity is now a signatory of the WorldGBC Net Zero Carbon Buildings Commitment. Creating sustainable destinations across our portfolio is a key focus for us. Our team is passionate about creating a sense of connection and belonging for our local communities and delivering precincts that embody sustainable design. Vicinity has been recognised for our sustainability programmes across our assets and within our communities, which is a credit to all the hard work our team has undertaken to date. We look forward to continuing our commitment to building a sustainable future for all of our stakeholders.”
Kirsty Portelli, Marketing and Communications Officer, 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.