Hibernia Real Estate Group Limited owns and develops a property portfolio worth €1.5bn all of which is located in Dublin and mostly comprises city centre offices. Their purpose is to improve the built environment in Dublin providing above average long-term returns for shareholders and bringing benefits to all stakeholders. Sustainability impacts all parts of business and is an integral part of their overall strategy.
Member of Irish Green Building Council
Joined in 2021, Signatory of WLC Commitment
Commit all owned assets to operate at net zero carbon by 2030, achieve maximum reduction of upfront embodied carbon emissions in new developments and major renovations by 2030, compensating for any remaining residual operational and upfront embodied emissions, in line with a 1.5°C scenario and aligned with Hibernia’s Net Zero Carbon Pathway.
Measure and disclose energy consumption and whole life carbon emission, and progress against net zero carbon targets annually though publicly available Sustainability Report, CDP response and GRESB submissions.
Implement Hibernia’s Net Zero Carbon Pathway, the strategy for reducing carbon emissions from owned and developed assets. Maximise reductions of upfront embodied carbon in developments, the energy demand of existing assets, implement energy efficiency measures, maximise on site renewable energy generation, procure renewable electricity, establish an internal carbon pricing mechanism to fund carbon reduction measures and as a last resort, offset all residual emissions.
Verify energy consumption, operational and embodied carbon emissions data via independent third-party assurance in line with the Net Zero Carbon Pathway. Certify new and existing buildings using relevant market certification tools (e.g., LEED) where appropriate. Undertake life cycle carbon assessments at the design stage of all new developments and at yearly intervals during the construction phase to identify carbon reduction opportunities.
Advocate for market transformation towards net zero. Educate and collaborate with supply chain and customers to drive innovation across the entire value chain. Utilise green leases to encourage action from tenants. Measure and mitigate embodied carbon emissions throughout portfolio. Put climate change resilience at the centre of business strategy by aligning disclosures with the TCFD recommendations, utilising an internal price on carbon, a carbon reduction fund and incorporating net zero carbon and other sustainability targets into remuneration.