International property and construction consultancy Gleeds has had its net zero 2040 target validated by the SBTi - the Science Based Targets initiative.
Following a detailed assessment against the Corporate Net Zero Standard Criteria, the SBTi has validated Gleeds’ near and long-term science-based emissions reduction targets.
The near-term targets see Gleeds commit to reducing scope 1 and 2 greenhouse gas emissions - emissions made directly by a business or indirectly via the energy it sources - in absolute terms by at least 46.2% by 2030.
It has also committed to a reduction in scope 3 emissions from purchased goods and services, business travel and employee commuting by 46.2% over the same period.
The SBTi has also validated Gleeds’ target of reaching net zero greenhouse gas emissions across the value chain by 2040, which sees the business further commit to reducing greenhouse gas emissions across scopes 1,2, and 3 by a total of 90% within that timeframe.
“Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change,” said Luiz Amaral, chief executive officer of the SBTi.
“Gleeds’ net zero targets match the urgency of the climate crisis and set a clear example that their peers must follow.”
Michelle Regent, head of ESG at Gleeds, added: “The SBTi was formed as a collaboration between some of the world’s most notable environmental organisations to enable companies worldwide to halve emissions by 2030 and achieve net zero before 2050, so I am thrilled that Gleeds’ emissions reduction targets have now been officially verified by the body.
“Tackling the climate emergency is everyone’s responsibility which is why our ESG strategy is focused on working ‘Together for a sustainable future’.”
In pursuit of its targets, Gleeds’ activity will focus on mitigating emissions by improving energy efficiency across its network and extending the use of renewable energy to all offices.
With scope 3 representing the largest proportion of its emissions at present, Gleeds is seeking to eliminate unnecessary business travel, and has mandated that all new offices are situated close to public transport links.