Canary Wharf Group’s (CWG) vision is to transform urban spaces into extraordinary sustainable environments. As a responsible business, CWG is committed to transitioning to net zero by 2030. It will support the global decarbonisation effort to create a low carbon and climate resilient economy.
By working in collaboration with the tenants, residents and visitors who make up the Canary Wharf community, CWG continues to make significant progress on its net zero carbon pathway. Firstly, the collective emissions target for CWG and the tenant-controlled properties are led by ambitious Science Based Targets (SBTs), making Canary Wharf the first commercial district in the world to set a collective SBT.
Committing to becoming net zero carbon by 2030, CWG has developed a comprehensive roadmap for the business, its building customers and suppliers, that recognises the need for action across the entire portfolio and value chain to achieve this goal twenty years ahead of the Paris Agreement and UK government target.
In practice, net zero is incorporated within the development pipeline. Since 2012, CWG has procured 100% renewable electricity for all its managed assets and continues to explore and support further renewables innovation including power purchase agreements. Meanwhile, CWG’s retrofit strategy works to harness the durable design of some of its most recognisable, developments. Retaining the maximum structure and limiting new embodied carbon through this approach allows CWG to provide high-quality developments that meet the needs of the modern workforce without a huge carbon cost.
Taking ownership of the pathway has been fundamental to the success so far. CWG has achieved a 49% reduction in scope 1 and 2 emissions since 2012. In its flagship building, One Canada Square, CWG has reduced annual electricity usage by over 10 million kWh since 2006, whilst one of its newest buildings, One & Five Bank Street, received an EPC A rating. Through the development of Canary Wharf’s new neighbourhood Wood Wharf, CWG has pioneered exceptional sustainable design alongside innovative carbon-saving technologies.
Sophie Goddard, Director of Sustainability at Canary Wharf Group, said:
“With over half of the worlds population living in urban rather than rural areas it is clear cities have a key role to play in the transition to sustainability. Therefore, at CWG, we have led the way to create a net zero carbon pathway. We're harnessing the power of our walkable city, as a space for growth and creativity, whilst utilising innovation to drive the pathway delivery. We will work collaboratively with our suppliers, tenants and community members to share knowledge and deliver our commitment to net zero carbon by 2030.”