Lendlease calls on industry players to address value chain carbon emissions

Value chain emissions account for 90% of Lendlease’s emissions.

Global real estate firm Lendlease urged ints industry peers to address value chain or Scope 3 emissions in their decarbonisation drives as this is the sector’s carbon emissions.

Scope 3 emissions are indirect emissions from an organisation's value chain. 

For Lendlease, this type of emissions comprises around 90% of its total carbon emissions from upstream activities such as the manufacturing of building materials and downstream activities such as electricity and natural gas use by building tenants.

Whilst it is on track to achieve net-zero emissions in Asia by 2025, it aims to address Scope 3 emissions through its Absolute Zero goal by 2040.

ALSO READ: Lendlease Global Commercial REIT’s doubles net property income in FY23

It also launched a new protocol for Scope 3 emissions to initiate global collaboration for decarbonisation. It also called for an industry-wide data-sharing platform to exchange Scope 3 emissions data across value chains.

“The Protocol is a seminal piece of work on our pathway towards Absolute Zero – with no offsets – by 2040. To know where to focus our decarbonisation, we need to first know how we are accounting for our Scope 3 emissions – what is material and therefore, what is in and out of scope,” said Cate Harris, group head of Sustainability & Lendlease Foundation.

“We want the Protocol to spark conversation and engagement across our sector, to help drive to a consensus on how to account for and report on Scope 3 emissions. If we can achieve this, then we can collaborate as an industry to solve the two big systemic challenges: the decarbonisation of harder-to-abate materials, and the digitisation and sharing of Scope 3 emissions data. The Protocol is intended as an important first step towards that outcome,” Harris added.