Grosvenor Europe
Delivery of Scope 1,2 and 3 baselines. Targets set for net zero with a clear, certified pathway and verified commitment.
Grosvenor Europe invests, develops, operates and manages real estate assets & funds in vibrant European cities including Paris, Madrid and Stockholm. As a signatory of the UK Better Building Partnership’s Climate Commitment, Grosvenor Europe was required to publish a Net Zero Carbon Pathway before the end of 2020.
Objective
- Develop a Scope 1,2 and 3 baseline of material emissions sources
- Develop a set of targets which are informed by evidence from internal work and industry research
- Design a net zero pathway certified to industry standards and supported by emissions source management plans
- Achieve a verified commitment from a respected industry authority
Process
- Delivered a series of introductory webinars and workshops on key concepts
- Reviewed all relevant net zero definitions in the markets Grosvenor Europe operates in and developed comparative framework to select an approach tailored to the business
- Delivered programme of interviews across all regions to better understand the business practice and decision-making processes around sustainability
- Undertook remote technical modelling of Grosvenor Europe’s assets to understanding the cost and performance requirements to achieve NZC performance
- Delivered Executive and Board-level briefings on the findings of the engagement and modelling exercises, and the final pathway.
Outcome
- An industry leading position on net zero carbon that is supported by senior management
- A net zero pathway certified to industry standards and supported by emissions source management plans
- A road map to delivering a comprehensive net zero programme including proposed updates to process and policy documents
We are now supporting the business to implement the measures developed under the strategy, focussing in 2021 on climate resilience, due diligence, energy use intensity targets and carbon offsetting.