Lendlease has set new sustainability targets, aiming to eliminate carbon emissions on a net and absolute basis by 2025 and 2040 respectively.
The company aims to achieve net zero carbon emissions by 2025 for emissions produced directly from the fuels it burns and the emissions from the power it consumes.
By 2040, Lendlease aims to eliminate all emissions, including emissions generated indirectly from its activities and the material it procures, without the use of offsets.
Lendlease has launched a campaign called Mission Zero to promote the new targets in Australia, Asia, Europe, and the Americas.
All of Lendlease’s Australian commercial office funds under management are officially certified as carbon neutral. Its Australian Industrial Fund aims to be fully powered by renewables and become carbon neutral this year.
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In addition, the company’s Australian Building business unit became one of the first carbon neutral construction service providers in Australia, with all Australian construction sites achieving carbon neutral status.
Lendlease Group CEO and Managing Director Designate Tony Lombardo said given what’s at stake, it’s no longer enough to make ambitious commitments without translating them into real and tangible outcomes.
“The world is warming at an unsustainable rate. And the built environment – including our homes, the places we work and where our children go to school, the cities in which most of us now live – contributes about 40 per cent of global greenhouse gas emissions. This means our industry has a unique responsibility, and opportunity, to act,” Lombardo said.
“Of course, Lendlease alone can’t stop the world from warming. Industry collaboration is critical in order for our sector to meaningfully reduce its carbon footprint. This means working closely and co-operatively with our partners up and down the supply chain to reduce the embodied carbon in the materials our sector relies on – namely steel, cement and aluminium.
“With operations spanning Australia, Asia, Europe, and the Americas, we’re working across and responding to the raft of strategies, targets and incentives being introduced by governments globally to reduce emissions. After all, the stakes have never been higher.”