Lendlease signs carbon pledge

Lendlease Europe is therefore aiming to reach net zero carbon in operation for every building under its direct control by 2030, and for all buildings to become net zero carbon in operation by 2050.

Lendlease has defined five milestones to decarbonisation. These are:

1. Creating a decarbonisation investment strategy in 2021
2. Phasing out diesel and gas from operations
3. Using 100% renewable electricity by 2030
4. Collaborating with supply chain to achieve absolute zero carbon by 2040
5. Collaborating with tenants and residents to transition to renewable electricity and achieve absolute zero carbon by 2040.

Paul King, managing director of sustainability & social impact at Lendlease Europe, said: “The built environment makes a huge contribution to climate change and we have a responsibility and opportunity to act now to ensure we deliver our European pipeline responsibly. Lendlease is committed to achieving Net Zero Carbon by 2025 in scope 1 and 2 emissions, and Absolute Zero by 2040. We know we can’t reach this goal on our own and so we are pleased to support the WorldGBC Net Zero Carbon Buildings Commitment and look forward to working with others across our sector to play our part in limiting global temperature rise to no more than 1.5 degrees C.”

Latest accounts from Lendlease Construction (Europe) show turnover down and profits collapsing but it remains in profit despite all current challenges.

For the year to 30^th June 2020 Lendlease Construction (Europe) Ltd made a pre-tax profit of £3.9m on revenue of £442.7m.

The profit figure was down 87% on fiscal 2019’s £31.9m before tax and revenue was down 21% on 2019’s £563.0m.

The directors said that they had limited the company’s exposure to the Covid-19 crisis thanks to their ‘strategy of selective bidding in pursuit of a balanced risk portfolio’.

The balance sheet shows net assets of £168.7m (2019: £164.9m), cash in hand of £65.5m (2019: £65.5m) and no external debt.

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