Net zero

Greengage helps organisations assess their carbon footprint and how to reduce emissions. An organisation’s carbon footprint is determined by the greenhouse gas emissions (GHG) from across its operations. It evaluates the burden of responsibility in terms of not only the processes that emitted the carbon, but also investigates who is ultimately responsible for the carbon emitted directly or from its value chain. Our methodology ensures compliance with legislative and corporate carbon disclosure requirements.

At Greengage, we work with a vast variety of organisations including property owners, investment managers, banks, SMEs, manufacturers, professional service providers such as architects and engineers, charities and not-for profits to help them understand, manage and report their emissions in a meaningful way, while also complying with necessary legislation. We understand the challenges that the industry is facing with data at present and have developed robust approaches to overcome these.

We help organisations set decarbonisation pathways. This includes alignment with the Science Based Target initiative (SBTi) or using alternative routes such as ISO 140682 (previously PAS 2060). SBTi provides guidance for organisations to set and commit to near-term and long-term targets and achieve net zero carbon. Science-based targets are globally aligned goals, rooted in climate science, that aim to reduce carbon emissions and limit global temperature rise in line with the Paris Agreement i.e. below 1.5°C. We help organisations set more bespoke fund and asset level targets and for organisations on the scope 3 decarbonisation journey, we can set robust scope 3 category level targets and provide recommendations on how to decarbonise these.

A net zero strategy is a comprehensive plan developed by an organisation to reduce greenhouse gas emissions to as close to zero as possible. The goal of a net zero strategy is to balance the amount of greenhouse gases emitted with the amount removed from the atmosphere, ultimately achieving “net zero” emissions. This is a critical component in combating climate change and meeting international climate goals such as those set by the Paris Agreement.

We understand that organisations are dynamic and as a result, our net zero strategies are tailored to the specific circumstances of the organisations implementing it, taking into account factors such as the current level of emissions, materiality, future growth and making adjustments for what is practically achievable, available technology, resource and the economic context.

In developing our net zero strategies, we use a combination of a top-down and bottom-up approach to find a balance between the ambition and what is practically achievable across the timeline.

In the case of financial institutions, we also offer bespoke recommendations to align with PCAF, reduce their financed emissions to net zero levels and advise on how changes within the industry in terms of policy, regulations and technology will impact their carbon trajectory.

The ultimate aim is to create a sustainable path to net zero emissions, mitigating the impacts of climate change and fostering a resilient, low-carbon future.

A net zero asset audit is a comprehensive assessment designed to evaluate the carbon footprint of a building, with the goal of identifying opportunities to achieve net zero emissions.

Net zero audits provide an evaluation of the asset’s current performance against industry best practice, analysing various aspects of its design, engineering, operations and energy use to determine how it can reduce its greenhouse gas emissions to zero, or acceptable net zero limits set for an asset class. It also looks at the performance of the asset against various market, economic and environmental factors to highlight the impact of external factors on the net zero transition. Where a building is unable to achieve its targets in time, a commentary is provided on impact and follow-on options.

Greengage provides net zero assessments for assets. Where these need special considerations, as in the case of heritage buildings or those exposed to climate risk, social impact etc, they are accounted for in our assessments in terms of conflicts, trade-offs and complimentary solutions.

We leverage our systems thinking approach to provide an audit that looks at the social and nature regeneration aspects where the engineering solutions towards decarbonisation fall short. This also helps us to identify co-benefits such as improved tenant satisfaction and biodiversity enhancement.

Our asset audits also include detailed cost impact analysis to help clients understand capital costs and savings, as well as the value at risk if not meeting targets.

Once a net zero strategy is formulated, organisations face many challenges in its implementation and delivery. We offer continued support in this area to convert net zero audits into a portfolio-level implementation strategy, taking into account leasing cycles and any additional constraints. This is complimented by additional opportunities where we support with renewable energy procurement and detailed feasibility assessments for electrification, which help in reducing direct emissions. For indirect emissions reduction, we assist in supply chain engagement, setting up data collection mechanisms, staff training and occupier engagement.

Our implementation and delivery support involves working collaboratively with the business leadership and operations team, as well as asset and facility managers, to achieve the goals of the net zero strategy.

Deep energy retrofits are comprehensive building renovations aimed at significantly reducing energy consumption and improving the overall energy efficiency of existing buildings. Unlike standard energy retrofits, which may focus on individual components or systems, deep energy retrofits take a holistic approach, addressing multiple aspects of a building’s energy performance. They can help in achieving deep emissions reduction in order to reach an organisation’s decarbonisation goal relating to their asset portfolio.

In occupied buildings, implementing deep energy retrofits can be challenging. We support with developing a retrofit implementation plan considering a phased approach with budget and timelines. We develop an occupier engagement programme that engages occupiers right from the start and at all stages of the retrofit. We also develop the sustainable retrofit design brief to meet the net zero targets and take on the role of sustainable retrofit co-ordinator to ensure successful delivery against the sustainable design brief.

Embedding net zero goals into corporate decision-making is both an ethical imperative and pragmatic business consideration. For an organisation to transition to net zero, it needs to reduce emissions across all categories under scope 1, 2 and 3. This requires a system thinking approach that starts right at the board level and filters through to various teams within the organisation.

To effectively embed net zero into corporate decision-making, companies should consider the following strategies:

• Integrate into corporate strategy and make net zero a core part of the company’s mission and strategic goals.
• Set targets based on scientific guidelines to achieve net zero emissions.
• Engage stakeholders – involve employees, investors, customers and suppliers in the net zero journey to ensure broad-based support and collaboration.
• Set robust policies to safeguard against future risk.
• Monitor and report progress.

By embedding net zero into corporate decision-making, companies not only contribute to the global effort to combat climate change, but also enhance their own resilience, competitiveness and long-term success.

At Greengage, we work with companies right from the C-Suite to the operations teams to review and align business policy and practices that help to combat climate change and enable a just transition to net zero.