Responsible stewardship is a key strategic priority for Capco, underpinned by effective governance and delivering positive sustainable outcomes that enhance value for our stakeholders. The Pathway sets out how we will deliver our Net Zero Carbon commitment by 2030 as well as becoming Net Zero Carbon in our corporate activities by 2024. These timelines reflect the urgent challenge of tackling climate change and how we will continue to engage with and support our stakeholders to achieve this.
Our approach recognises that our heritage buildings represent a long-term store of carbon. We will leverage the existing embodied carbon by making effective improvements to our buildings. Capco will focus on five key activities:
- 50% reduction in embodied carbon emissions to below 475kg CO2e per m2 by 2030 by prioritising innovative refurbishment using sustainable materials and using Whole Life Carbon Assessments
- 60% reduction in operational carbon intensity by 2030 by driving down energy demand in all our activities
- Prioritise innovation and renewables through new technologies and energy initiatives as well as working with an innovative supply chain
- Enhance climate adaptation and resilience to improve building resilience
- Residual Emission Offsetting using certified schemes
Capco’s commitment to being Net Zero Carbon by 2030 is core to our business. Earlier this year, Capco established an ESC Board Committee focused on environment, sustainability and community initiatives and established an ESC strategy with a commitment to achieve Net Zero Carbon by 2030. As a key strategic commitment, progress against our Net Zero Carbon Pathway will be overseen by the Board.
The Board ESC Committee, which is chaired by Non-executive Director Charlotte Boyle and to which all Capco’s independent Non-executive Directors are members, monitors implementation of Capco’s ESC Strategy and reports directly to the Board.
An updated version of the NZCP was published on 23 February 2022, to correct the baseline carbon footprint