BentallGreenOak is planning to achieve net-zero emissions by 2050 for its entire global real estate portfolio.

The $69bn (€60bn) real estate asset manager said it has joined the Net Zero Asset Managers initiative, an international group of asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner.

BentallGreenOak said it expects to work in partnership with investor clients on their decarbonisation goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management.

Within one year, the manager expects to set an interim target for the proportion of assets to be managed in line with the target of net zero emissions by 2050 or sooner.

Sonny Kalsi, co-CEO of BentallGreenOak, said: “Our commitment to environmental stewardship forms part of the fabric of our firm’s culture and the responsibility we share to create a more hopeful future.”

Kalsi said the positive trajectory of the firm’s emissions reductions programmes across its managed portfolio will continue to be a “compelling part of our offering to institutional investors, and a source of untapped potential that we will continue to pursue as part of our overall growth strategy for the firm”.

Anna Murray, managing director and global head of ESG for BentallGreenOak, said: “We are aligning to a growing and certain consensus from the investor community and a wide range of public stakeholders who are looking to responsible real estate asset managers to respond to the climate emergency.

“It will be our renewed mission to demonstrate accountability and tangible action on climate change. There is enormous opportunity in front of us that can only be captured through collaborative efforts across our global teams and in alignment with our clients’ objectives.”

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