Hear why we have made it our mission to reach absolute zero by 2040
Climate and Environment
The built environment contributes around 40 per cent of the world’s carbon emissions. We have a responsibility and an opportunity to act. As a 1.5°C aligned company, we have set ourselves ambitious science-based emissions reduction targets. Our targets have been validated by the Science Based Target initiative as being line with a 1.5°C trajectory.
Our industry-leading targets make our intention clear: to lead the transformation of our industry, inspiring a different level of thinking and shifting the attention to carbon elimination – not just reduction or offsetting. This is our Mission Zero.
Net Zero by 2025
We’ll reduce greenhouse gas emissions as far as possible, with the remainder offset in an approved carbon offset scheme. Our Net Zero target applies to Scope 1 and 2 emissions.
Absolute Zero Carbon by 2040
There will be no greenhouse gas emissions from our business activities. No offsets. Our Absolute Zero target applies to Scope 1, 2 and 3 emissions.
Lendlease Scope 3 Emissions Protocol: Our Reporting Boundary
Our Absolute Zero by 2040 target is industry leading and bold. It is a target focused on eliminating, rather than just offsetting, the Scope 1, 2 and 3 emissions within the boundaries we have defined as being relevant to our value chain.
The Lendlease Scope 3 Emissions Protocol V.1 is intended to contribute to broader efforts to help define a global approach to the measurement and reporting of Scope 3 emissions associated with real estate investments, development, and construction business activities.
Mission Zero Regional Roadmaps
We have clear plans in place to decarbonise our business globally
We’ve developed a five-step pathway to guide our journey to Absolute Zero by 2040. Our regional Mission Zero Roadmaps set out specific regional strategies and timeframes to eliminate Scope 1, 2 and 3 in line with our targets. Our Roadmaps are tailored to account for regional variances in the availability of alternative fuel options, renewable energy markets, technology, supply chain maturity and government policy. They provide the detail to drive specific and timely action towards achieving our targets, and are another measure of our performance.
Our climate ambitions and actions are already embedded
across the organisation.
We are positioning our portfolio of assets to meet tenant and resident expectations to live and work in highly sustainable buildings and precincts. We acquire high performing assets and invest in operational energy efficiency while increasing the generation and purchase of renewable electricity, Sustainable real estate attracts capital partners and quality tenants, as well as contributing to investment performance and our competitive edge. We maintain a leading position across ESG assessments and benchmarks for real estate.
We create independently rated green buildings and net zero precincts, as well as inclusive, integrated and climate-resilient communities across our gateway cities. Lendlease has achieved several innovative green building firsts, including world-leading sustainability precincts such as Barangaroo.
We are phasing out fossil fuel diesel and gas from our construction sites, using electric plant and machinery where available, and switching to renewable diesel or replacement fuels as well as renewable electricity. We are increasing the number of all electric buildings and we are collaborating with our suppliers to progressively source and procure low embodied carbon materials, targeting embodied carbon reductions.
We are making progress on our Mission Zero Roadmap initiatives to reduce scope 1, 2 and 3 emissions.
Reducing Scope 1 emissions
We are working towards our goal of zero fossil fuels in construction activities by using alternative fuels, increasing the use of electric construction plant and equipment and trialling battery storage and charging infrastructure.
We have implemented an Alternative Fuels Policy to help reduce fossil fuels usage from our UK construction sites. At the end FY22, renewable diesel accounted for 77 per cent of fuels used in the UK, including sustainably sourced low carbon alternatives such as hydrotreated vegetable oil (HVO).
Reducing Scope 2 emissions
We continue to focus on improving operational energy efficiency while increasing the generation and purchase of renewable electricity. We are also trialling battery storage technologies.
We have achieved Energy Star certification at The Cooper, Chicago, the first in our plan to target Energy Star ratings across the multifamily portfolio.
Reducing Scope 3 emissions
We continue to collaborate with our suppliers to progressively source and procure low embodied carbon materials and our supply chain team is establishing a cohort of Mission Zero aligned supplier partnerships.
We are targeting an average 40 per cent Portland cement replacement across all three residential towers at One Sydney Harbour is estimated to reduce overall embodied carbon emissions by up to 10 per cent against standard construction practice.
We’re working in partnership to drive industry transformation
We’re on our way, with some brilliant partners. Learn about them here.
We are assessing climate change impacts to support the resilience of our business
Lendlease recognises the risks and opportunities associated with climate change. Climate related risk is embedded in our strategic and business planning cycles and all projects and investments conduct climate related risk assessments. Climate change adaptation and mitigation plans inform development, construction and operation of the buildings and places we create. Since 2018 we have been disclosing our exposure and resilience to climate change through the lenses of governance, strategy, risk management, and metrics and targets, prepared in accordance with the Task Force for Climate-related Financial Disclosure (TCFD) recommendations...
News & Insights
Developers can shape urban environments to achieve sustainability
The spaces created, the air quality and biodiversity must meet the requirements in a post-pandemic building ecosystem...Read more
The time to commit to net-zero (and beyond) is now
Ahead of the G7 Leader’s Summit, our CEO designate Tony Lombardo has penned his thoughts on the need for the business community to work hand-in-glove with governments to meet the challenge of climate change head-on...Read more
Lendlease office funds achieve carbon neutral status
One of the nation’s largest group of office assets, Lendlease Funds Management’s Australian office portfolio, has officially been certified carbon neutral...Read more
IQL’s Pavilion is the Winner of Winners at the Structural Timber Awards
They’re the timber equivalent of the Oscars, and this year our exceptional new Pavilion at International Quarter London picked up two very special gongs...Read more