Shoosmiths makes the British Property Federation’s Net Zero Pledge
Shoosmiths has signed the British Property Federation’s (BPF) Net Zero Pledge.
The law firm is backing the initiative, which involves uniting the real estate industry in tackling carbon emissions from the built environment and achieving net zero by 2050.
Shoosmiths joins a range of developers, investors, lenders, architects and agents in committing to three core principles.
BPF Net Zero Pledge
- Setting verifiable net zero targets and plans
- Sharing research, knowledge and insight on an open-source basis
- Supporting each other, and the wider industry, to accelerate the transition to net zero
Shoosmiths is already a signatory to the ‘Business Ambition for 1.5°C’ campaign.
The firm has near-term science-based emissions reduction targets validated by the Science Based Targets initiative (SBTi): Shoosmiths commits to reductions across its entire value chain to reduce absolute scope 1, 2 and 3 Greenhouse Gas Emissions 50% by FY2030 from an FY2020 base year; and to increase annual sourcing of renewable electricity from 74% in FY2020 to 100% by FY2025.
It also aims to achieve net zero emissions for its own operations by 2025 and is finalising plans for a proposed net zero target for its entire value chain, which will be submitted to the SBTi for validation.
Shoosmiths’ BPF pledge will see it provide further specialist support to the real estate industry, with expertise in areas such as nutrient neutrality, renewable energy production, biodiversity net gain, modern methods of construction and sustainability-linked lending
Kirsten Hewson, partner and head of real estate at Shoosmiths, commented:
“We believe in demonstrating high standards of environmental responsibility in all our operations. That’s why we’ve signed the BPF’s Net Zero Pledge, which aligns with our targets, but also promotes common values of industry collaboration and knowledge sharing.
“Our real estate division is already pioneering solutions to industry-wide environmental challenges, including a model for delivering nutrient neutrality for developments. With the support of the wider firm, we are ramping up our support – assisting both clients and industry partners to escalate the pace of change required to reach net zero.”
As part of the initiative, the BPF is launching a net-zero network, which includes an online knowledge hub to enable partners to exchange ideas and best practice. A mentorship programme is also being piloted to connect sustainability leads at larger and smaller businesses to share best practice and support each other to reach net-zero.
Rob Wall, assistant director of sustainability at the British Property Federation (BPF), said:
“The BPF Net Zero Pledge brings businesses from across the BPF membership together in a common cause: to accelerate the transition to a net zero carbon property sector. We are delighted to welcome Shoosmiths as the latest signatory to the Pledge.
“At the heart of the BPF Net Zero Pledge is a commitment to cooperate and collaborate with peers and clients and share knowledge and experience. We look forward to working with Shoosmiths – and with all signatories to the Pledge – to deliver on this ambition and ensure that every BPF member is supported on their journey to net zero.”