Hibernia Reit pledges to be climate resilient by 2030

Irish property group Hibernia Reit has announced its intention to become a net-zero-carbon and climate-resilient business by 2030.

The aspiration was contained in its “sustainability statement of intent” called Transforming Dublin Responsibly.

The document sets out long-term targets for the business and simplifies its objectives into three pillars.

The other two pillars are to provide spaces that prioritise the environment, health and wellbeing, and to create long-term positive social impact through its operations.

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“We have made strong progress on sustainability over the past number of years, with milestones reached including reducing the greenhouse-gas intensity of the managed space within our office buildings by 25 per cent on a like-for-like basis from 2016 to 2019,” it said.

The company said the sustainability statement aligns the business with the Paris agreement, which is based on pursuing efforts to limit global warming to 1.5 degrees.

Hibernia Reit chief executive Kevin Nowlan said: "Sustainability is at the centre of our strategy to provide the best buildings for tenants, and our ambition is to be the most sustainable property company in Ireland.

“Our sustainability statement of intent commits us to becoming a net-zero-carbon business by 2030 and will ensure our resilience to climate change, while contributing to Ireland’s efforts to reach net-zero carbon by 2050.”

Pat Barry, chief executive of the Irish Green Building Council, said reducing the environmental impact of buildings across their entire life cycle "is critical in addressing climate change".

“I welcome Hibernia’s commitment to achieving net zero by 2030, and more specifically their ambition to reduce embodied carbon in future developments and increase on-site renewable energy production,” he added. “I truly hope this will inspire others in the industry.”