As companies reassess their office needs in the wake of the pandemic, a new arms race to deliver net zero carbon space without the need for offsets is taking place in London, according to a recent Bloomberg report.
Dutch developer Edge, for example, recently committed to reach absolute zero carbon on its new developments by at least 2050. Its future projects will eventually be built and operated in a way that requires no tree planting to mitigate their impact. Australia’s Lendlease Corp. and Copenhagen-based Nordic Real Estate Partners A/S have made similar pledges.
If the firms achieve that goal, they will outpace net-zero developments being promoted by many of Europe’s largest landlords that require offsets to reach zero-carbon goals. Edge will continue to build projects that include offsets for now as it seeks to build more sustainable buildings that won’t need any offsets to reach net-zero.
Edge plans to immediately reduce embodied emissions for any new projects by at least 50%. That would mean a maximum upfront embodied carbon target of 500 kilograms of CO2 for each square meter.
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