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Climate change mitigation & resilience

Committed to net zero carbon by 2030

Climate change mitigation & resilience

Committed to net zero carbon by 2030

Climate change mitigation is a cornerstone of our ESG strategy. In recent years, we have made significant progress on decreasing greenhouse house emissions and we are now taking our climate ambitions one step further, with our commitment to be a net zero carbon business by 2030.

NET-ZERO BY 2030
NET-ZERO BY 2030
The building and construction industry significantly contributes to the global carbon footprint. This is why Workspace is becoming a net zero carbon business by 2030, driving down operational and embodied carbon emissions, aligned to limit global warming to 1.5°C.
Read our Pathway to Net Zero
Green Finance
Green Finance
Our focus on sustainability is embedded across all our decision-making process, including our financing strategy. Workspace has developed a Green Finance Framework, under which we can raise debt to finance and refinance activities of an environmental nature.
Read the Green Finance Framework
Second Party Opinion
Second Party Opinion
Our Green Finance Framework has received a second party opinion from DNV GL, an external environmental, social and corporate governance research and analysis provider, confirming its alignment with the International Capital Market Association’s Green Bond Principles.
Read the Second Party Opinion

Our Carbon Footprint

The GHG Protocol Corporate Standard classifies a company’s greenhouse gas emissions into three ‘scopes’:

  • Scope 1 emissions are direct emissions from owned or controlled sources, such as gas and fugitive emissions.
  • Scope 2 emissions are indirect emissions from the generation of purchased energy, i.e. our electricity consumption. Scope 2 can be reported as location-based or market-based. A location-based method reflects the average emissions intensity of the grid whereas a market-based method reflects emissions from electricity purchased from a supplier, allowing zero emissions to be reported for contracts on a renewable energy tariff. Workspace procures 100% renewable electricity.
  • Scope 3 emissions are all indirect emissions (not included in Scope 2) that occur in the value chain, including both upstream and downstream emissions. The majority of our Scope 3 emissions are from the embodied carbon associated with our refurbishment and redevelopment activities.

Our Scope 1 and 2 emissions make up only 17% of our total emissions, and are the operational emissions that we have control over and therefore take full responsibility for. The majority of our Scope 3 emissions are associated with our refurbishment and redevelopment activities.

OUR green buildings

TCFD

The Task Force on Climate-related Financial Disclosures ('TCFD') framework provides guidance to companies on how to improve reporting on climate-related financial risks and opportunities. Workspace supports the TCFD recommendations and is committed to implementing them, providing stakeholders with information on our exposure to climate-related risks and opportunities.
Read our TCFD Report

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