Redrow Sets 2050 Net Zero Target
As part of its climate change strategy, housebuilder Redrow has announced its ambitious commitment to achieving science-based net-zero emissions by no later than 2050 throughout its own operations, the homes it builds and the operations within its own supply chain.
Redrow has signed up to the Science Based Targets Initiative’s (SBTi) highest Business Ambition of pursuing efforts to limit the warming of the earth to 1.5°C, and will also establish interim science-based targets throughout Scopes 1, 2 and 3 in line with SBTi criteria and recommendations in 2022.
The business has made solid progress in reducing its carbon footprint in recent years, with more efficient use of diesel fuel on-site resulting in a 14% reduction in emissions in the past year. As of July 2021 all plots, show homes and site compounds have been supplied by 100% Green certified electricity.
As well as this, together with its supply partners, the business has trials under way to explore the efficacy of Hydrotreated Vegetable Oil (HVO), a biodegradable non-toxic fuel which has potential to replace diesel across all their construction operations.
Redrow sees the commitment of limiting warming to 1.5°C as a vital step in tackling the climate crisis. The goal set at the Paris Agreement was to limit global warming to well below 2°C, and there is now a consensus that businesses and society alike must go much further; Redrow has committed to this target in line with that evidence.
The housing sector has a vital role to play in tackling climate change with buildings accountable for 39% of global carbon emissions.
In order to meet these rigorous commitments, Redrow has appointed the Carbon Trust to measure the baseline of its Scope 3 emissions, model its Science Based Targets and advise on potential solutions and changes to business practices.
The Carbon Trust is an organisation that has pioneered decarbonisation for more than 20 years for businesses, governments and organisations around the world. With their support, Redrow sees a real opportunity to demonstrate that good environmental performance can bring a competitive advantage and create long-term sustainable value for the business and its stakeholders.
Matthew Pratt, Group Chief Executive at Redrow, said: “Playing our part in tackling the climate emergency is a key priority and Redrow will set ambitious science-based targets to reduce carbon emissions across our whole business. We will set a long-term target to reach net-zero emissions no later than 2050 and importantly we will also be setting interim targets for both our direct and indirect emissions, and these will be consistent with limiting global warming to 1.5°C.
“No one has all the answers today, but it’s vital that we all do everything we can, and making ambitious, far-reaching commitments and holding ourselves to account is an essential part of that. We look forward to collaborating with our partners and supply chain to deliver these goals.”
Dominic Burbridge, Director at Carbon Trust, commented: “We are pleased to be supporting Redrow as they strengthen their commitment to carbon reduction and plan the next phase of their climate change strategy. It is encouraging to see them making such a bold pledge and building on the progress they’ve made in recent years.”
The business has also joined the Race to Zero, a global campaign to rally leadership and support from businesses, cities, regions and investors for a healthy, resilient, zero carbon recovery that prevents future threats, creates decent jobs and unlocks inclusive, sustainable growth. It mobilises a coalition of leading net-zero initiatives representing 733 cities, 31 regions, 3,067 businesses, 173 of the biggest investors, and 622 Higher Education Institutions.
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