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Midlands developer St. Modwen said it plans to be operationally net zero carbon by 2025, and fully net carbon neutral by 2040.
The developer has announced a six-pronged sustainability and carbon reduction plan for the group including its dedicated industrial and logistics property business.
The move comes as the West Midlands attempts to position itself as the leading UK city in the fight to reduce carbon emissions.
St. Modwen said it will be ready by the end of this year to achieve a net biodiversity gain of 10%, achieve the national equality standard by 2025 and invest 1% of the cash profits, annually, into education, as part of the environmental and social responsibility plan.
“We know that the environment, good working practices and the impact businesses have on society is front of mind amongst the full spectrum of our stakeholders. This includes our colleagues, the partners we work with, the communities we serve and investors who are placing increasing emphasis on environment, social and governance issues in the global capital markets.”
“We’ve identified much of what we need to do to meet our operationally net zero carbon 2025 ambition, including looking at every aspect of our business operations, from travel to energy sources. We are also focusing on the way we design, build and operate and deconstruct our buildings, as well as sourcing materials and products that will help us reach this target,” St Modwen Chief Finance and Operations Officer Rob Hudson said.
Other actions include working with partners to achieve the company’s responsible business goals by launching a supply chain charter in 2020.
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