Hammerson, British Land & Intu commit to new climate change initiative

Hammerson net zero carbon intu british land
PwC will help Intu restructure its balance sheet.
// Hammerson, British Land, Grosvenor & Intu commit to delivering net zero carbon real estate portfolios by 2050
// The initiative is part of the Climate Change Commitment

Hammerson, British Land, Grosvenor and Intu have pledged to deliver net zero carbon real estate portfolios by 2050.

The initiative is part of the Climate Change Commitment, which is signed by a total of 23 retail and commercial property firms.

The agreement includes targets for carbon emissions, water demand, resource use and socio-economic impacts by 2030.

READ MORE: Hammerson & APG acquire 50% stake in Via Outlets

It will lead to some of the UK’s largest shopping centres and outlet destinations, including Intu Metrocentre, Bluewater, Intu Trafford Centre, Meadowhall and Liverpool One becoming zero carbon from 2050.

Unibail-Rodamco-Westfield, which owns Westfield Stratford City and Westfield London, was absent from the list of signatories.

“The significance of this commitment cannot be under-estimated,” Better Buildings Partnership chief executive Sarah Ratcliffe said.

“These senior leaders have acknowledged the scale and urgency of action on climate change that is required, have committed to delivering net zero carbon portfolios, to improving transparency and driving market transformation.”

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