Launching our new Net Positive Objective
24 Mar 2017
I am delighted to be able to announce Hammerson’s Net Positive initiative this week. We are setting out a new objective under Hammerson Positive Places, to become Net Positive for carbon emissions, water demand, resource use and socio-economic impacts by 2030. And we are including not just our emissions but the emissions of the tenanted areas of our assets and our development projects. We are also including the impacts of our investments so everything we do across the business and in all operating countries contributes to our Net Positive objective.
The background work to get us to this point has been extensive. The launch almost feels like the culmination of the project but of course this is just the start of a much bigger one.
We have completed extensive carbon and socio-economic footprints of the business over the last 12 months that provide clear baselines against which to measure progress. They also reveal the areas of the business and the stakeholders we need to work with most urgently to be able to drive the level of change we are looking for.
The response from our retailer tenants so far has been incredibly encouraging as many of them have provided us with energy and emissions data for all of their units across our portfolios. Our contractors have been helpful too in providing materials and waste data to support out calculations. An important part of this project will be to extend this type of collaboration so that we can really work together to achieve major improvements in the impacts of all our businesses. And if we can demonstrate to any other business that they can do this too, that will be a real sign of success for us.
There is no doubt this is a big challenge for the business but the problem we are all addressing is bigger. If we are to have any hope of achieving the target of keeping global warming below 2⁰C we all have to do much more. And if we don’t the costs will be high indeed.