Redrow's science based carbon reduction targets update January 2023

13^th February 2023

Redrow is proud to announce that our near-term scope 1 and 2, and scope 3 targets have been approved by the Science Based Target initiative (SBTi).

 

The SBTi approved Redrow’s near-term science-based emissions reduction target on the 17^th of January 2023, to:

• Reduce absolute scope 1 and scope 2 emissions 42% by FY2030 from a baseline year FY2021.
• Reduce absolute scope 3 emissions 25% by FY2030 from a baseline year FY2021.

 

As a business, we are working towards addressing climate change by reducing our emissions.  Increased greenhouse gas levels are having an impact on a changing climate, resulting in extreme weather events which affect communities, businesses and supply chains.

 

Most recent climate science from the IPCC shows it is still possible to limit a global temperature rise to 1.5°C, although that threshold is dangerously close. At Redrow we believe it is crucial that we play our part in cutting our emissions to reduce the worst impacts of climate change and to ensure we are well prepared for future legislation.

 

We believe there is a great opportunity to learn from the science here, through innovation in the way we operate, and future-proofing the homes and communities that we build.  We will be building on the good work that we have already achieved on carbon reduction to date and taking the necessary changes to become a low carbon business.

 

 Some examples as to how we aim to reduce our carbon emissions for scope 1 and 2 are by transitioning to a fully electric car fleet as early as 2025, using renewable electricity procurement for sites and offices and trailing HVO fuel and low carbon technologies on our sites.

 

To help us meet our ambitions to reduce our scope 3 emissions, we are excited to have announced a huge step towards meeting the proposed Future Homes Standard with improved insulation and the introduction of air source heat pumps into the design of our homes, which will deliver 70% to 80% lower emissions for our customers. Alongside this, we will support our supply chain with setting their own carbon reduction targets and encouraging the development of accurate carbon data for our key carbon contributors. These are just a few of the things we will be implementing to reduce our carbon emissions.

 

Setting, and delivering on our ambitious targets will allow us to reduce our impact on the environment and minimise climate change. We deeply encourage our supply chain and other businesses within the sector to take responsibility for their own carbon contributions by setting their own science–based carbon reduction targets.