Spanish investor Merlin Properties has unveiled its ‘Pathway to Net Zero Carbon’ plan, which sets out a roadmap to become a net zero emissions company by 2030.
Over the next eight years, the company will work to gradually reduce its carbon footprint by 85%. The unavoidable residual footprint will be offset through initiatives developed internally by the company itself, such as planting trees.
The plan to achieve the net zero target by 2030 involves three key pillars: reducing the operational carbon by 85% in 2028 compared to 2018 (scope 1 and 2); reducing the embodied carbon footprint in the developments and refurbishments of its buildings through initiatives such as the use of low-carbon materials or the incorporation of sustainability scoring in the bidding processes and incentivizing circular economy; and the use of renewable energy through the procurement of 100% renewable energy and on site generations of energy through photovoltaic panels for self-consumption. The unavoidable residual footprint will be mostly offset through own initiatives that will be duly certified.
Additionally, aware that the greatest impact of its assets comes from the activity carried out by tenants, Merlin will go a step further by launching a pioneering measure to encourage tenants to reduce their emissions, including including green clauses in its contracts. These clauses contemplate a 50 bps lease price reduction for those tenants who have net zero operations duly credited and certified.
Merlin has more than 2.8 million m2 with LEED and/or BREEAM and 1.3 million m2 with ISO 13001 and 50001 certifications.
