ACRE has pledged to reduce our carbon emissions to net-zero by 2050. The pledge comes as part of our evolving Environmental, Social & Governance (ESG) strategy.
ACRE will undertake a number of measures to chart its path to net-zero across its entire portfolio, including a complete Greenhouse Gas (GHG) inventory and assessment of available data to understand the sources of emissions. ACRE is already pursuing the development and implementation of a comprehensive decarbonization strategy in order to align with climate change mitigation and adaptation goals identified in the Paris Agreement.
In 2021, ACRE was welcomed as a strategic partner of the Urban Land Institute (ULI) Greenprint Center for Building Performance, which is dedicated to leading the global real estate industry towards improved environmental performance, focusing on energy efficiency and reduced carbon emissions.
The Greenprint Center will play a key role in our path to net-zero through measurement, benchmarking, knowledge sharing, and the implementation of best practices that will guide the firm as it decarbonizes its portfolio and continues its success as a leading global real estate investor. ULI defines net-zero in line with the World Green Building Council, as a building portfolio that is highly efficient and powered by on- or off-site renewables, including offsets. The goal is also in line with the Paris Agreement, and findings from the Intergovernmental Panel on Climate Change report to limit global warming to 1.5 degrees Celsius. The baseline net-zero goal is based on the CDP scope 1 and 2 greenhouse gas emissions, and direct operational control, excluding occupant operations.