In line with our commitment to achieving a net zero carbon portfolio by 2030 we currently offset any residual embodied carbon in our developments. This is the estimated embodied carbon that remains once we have done everything that we practically can to reduce embodied carbon through material re-use, design efficiency or materials selection and specification.
Our 发展 Embodied 碳补偿政策 sets out the core criteria required for carbon credits and our additional principles and priorities when selecting projects.
We prioritise purchasing carbon credits from high quality nature-based projects as these often provide additional environmental benefits and co-benefits to the local communities. 除了, we partner with carbon market specialists and conduct a thorough due diligence process on the projects prior to selection.
We recognise that the voluntary carbon market is fast-evolving and so this strategy is subject to regular review as guidelines and our preferences evolve. We are also exploring local opportunities for carbon offsetting to complement our strategy.
Having done all we can to minimise embodied carbon, we pre-purchase carbon credits equivalent to the residual embodied carbon in our committed developments. Pre-purchasing carbon credits helps ensure that we can select our preferred projects and provides greater certainty over the costs. This is in line with the rising price of carbon credits being identified as a long term risk.
Once a development has reached RIBA Stage 5 (Manufacturing and Construction), we retire approximately 50% of the pre-purchased carbon credits with the remainder being retired at practical completion.
1 . Triton Square抵消项目
柚木造林，墨西哥; 横跨恰帕斯州, 纳亚里特和塔巴斯科, 项目涵盖4个,270 hectares and will expand by an additional 1,每年200公顷. 项目交付c. 390,000 tonnes of emissions reductions each year and aligns with the following SDGs:
加纳社区重新造林: Restoring degraded forest reserves in Ghana with teak, indigenous trees and natural forest in riparian buffer zones. Project works closely with local farmers, some of whom are employed on the project and others are able to grow crops. Aim is to expand by 1,000 hectares each year. 符合以下可持续发展目标:
英国的森林创造: Supporting the planting of 23,000 trees through the Woodland Carbon Code. This was an additional commitment and not part of our formal offset at 1 Triton Square. 符合以下可持续发展目标:
利物浦街100号 offsetting projects
青藏高原的雨林: 项目修复30余人,000 hectares of degraded land and planting native trees in an area hailed as the ‘water tower of Asia’. 还有碳封存, this will protect local communities from encroaching deforestation and support thousands of jobs to plant and maintain the forests.
墨西哥的柚木林: Project expanding a 4,270 hectare teak plantation by 1,200 hectares annually. 这将增长高价值, sustainable timber and sequester around 390,每年排放1000吨碳. All water will be obtained through rainfall, so no irrigation will be required. It will promote tree plantation and afforestation in local communities.
英国林地创造: Supporting the planting of 150,000 trees in Cumbria and Scotland, prioritising biodiversity. Other benefits include flood alleviation and job creation. This project was an additional commitment and not part of our formal offset at 利物浦街100号. It is aligned to the Woodland Carbon Code and with the following SDGs:
