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LONDON - Grainger plc, the UK’s largest listed residential landlord, has received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas emissions reduction target, signifying a major step in its commitment to sustainability.
The company aims to reduce its absolute scope 1 and 2 greenhouse gas (GHG) emissions by 42% by 2030, using 2023 as the base year. In addition, Grainger will aim for a 51.6% reduction per square meter in scope 3 GHG emissions from capital goods and downstream leased assets within the same timeframe.
Grainger’s strategy to lower operational emissions includes refurbishing communal and individual units, transitioning from gas heating systems to alternatives, installing solar photovoltaic (PV) systems, procuring renewable energy, and working with contractors to ensure sustainable design and material choices in development projects.
The SBTi, a respected authority in corporate climate action, has validated Grainger’s targets, reinforcing the company’s role in addressing the climate crisis through responsible property development and management.
Already, Grainger has reported an 8% decrease in scope 1 and 2 emissions between the fiscal years 2023 and 2024. Moreover, the company has made strides in energy efficiency, with 95% of their Private Rented Sector (PRS) portfolio achieving an Energy Performance Certificate (EPC) rating between A and C, which not only benefits the environment but also offers energy cost savings to its customers.
Charlotte Hopkinson, Head of Sustainability and CSR at Grainger, expressed that the SBTi’s validation confirms the ambition and credibility of the company’s decarbonization efforts. She emphasized Grainger’s ongoing dedication to initiatives that support a sustainable, low-carbon future and align with global efforts to mitigate climate change.
This announcement, based on a press release statement, indicates Grainger’s forward movement in the industry’s transition towards more environmentally responsible practices.
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