Canary Wharf Group Commits to Ambitious Science Based Targets in Its Latest 2020 Sustainability Report, ‘Together We Can’
July 22, 2020 - Canary Wharf Group (CWG) has set out an ambitious environmental strategy for the next decade, including launching new emissions targets aligned with the demands of science to hold off climate impact. These ambitious targets, approved by the Science Based Targets Initiative, are in line with achieving a 1.5°C future and will be followed by a net zero pathway to be published later in 2020.
The Group has become one of the first 37 UK businesses to have approved target status within the initiative and only the second major property developer to have verified and agreed targets. Canary Wharf is the first commercial district in the world to make the commitments.
In its latest sustainability report, ‘Together We Can’, CWG announces an ambition to ‘build back better’ from the Covid-19 pandemic, focusing on collaboration with tenants and suppliers to tackle emissions together. The targets include the ambitious commitment to rapidly accelerate the uptake of Science Based Targets amongst its key suppliers in construction, building management and related service industries.
The new targets include commitments to:
- Reduce emissions by 65% by 2030
- Ensure 60% of its suppliers will have Science Based Targets by 2025
““We have a unique opportunity to help drive change alongside everyone who calls Canary Wharf home. We are determined to work together to go even further to help improve our environment and shape a better world.”
Shobi Khan, CEO
Highlights from the 2019 report include:
- First commercial centre in the world to gain Plastic Free Communities status in 2019
- 100% renewable electricity purchased since 2012
- Zero waste to landfill from managed areas since 2009
- 34% reduction in overall emissions since 2012
- Over 3 million pieces of single use plastic removed or recycled in 2019
- Almost £3 million in donations and in-kind support to local community in 2019
Click here to read the full report
We hope you enjoy reading our report and we would be very interested in hearing your views. Please contact sustainability@canarywharf.com to provide your feedback.
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About Canary Wharf Group
Canary Wharf Group has overseen the largest urban regeneration project in Europe and is a fully integrated private real estate company that develops, manages and currently owns interests in approximately 7.7 million square feet of office space, 0.9 million square feet of retail and 327 completed Build to Rent units.
The company’s current £4.2 billion development pipeline is composed of 1.0 million square feet of office/retail properties, and over 3,700 new homes: for sale, for rent, intermediate and affordable. It currently has 2 million square feet under construction today, and 2.5 million square feet in planning, with a further planning opportunity for North Quay of 2 million square feet for mixed use development.
Canary Wharf Group is an industry leader in sustainability including purchasing 100% renewable electricity for the Estate since 2012 and zero waste going to landfill from the managed Estate since 2009.
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