Reuse + Recycle = Results
To help us meet our ambitious carbon reduction targets and achieve net zero by 2040 – and specifically to reduce the embodied carbon of our developments and refurbishments by more than 50% by 2030 – we must continue to find innovative ways to cut emissions.
In November, we launched our market-leading Circularity Score to drive reductions in the use of virgin materials in our developments. For schemes commencing after 1 April 2025, we are targeting a minimum Circularity Score of 40%, rising to 50% for those starting after 1 April 2030. Our longer-term aspiration is to achieve over 60% circularity across all new schemes by 2040.
In the absence of an industry-agreed measurement process, we will measure the percentage of reused materials incorporated into our developments and major refurbishments. This new metric will challenge us to innovate further and faster than ever before, while also stimulating the growth of a more robust and better-functioning market for reused materials.
By keeping existing materials in circulation, we can reduce the environmental impact of our development activities. This approach has already been demonstrated through our pioneering reuse of steel from one of our deconstructed buildings, City Place House, into the redevelopment of 30 Duke Street, SW1. This initiative, along with our glass recycling scheme at Minerva House, SE1, has helped refine our approach to creating ‘circular buildings’ that rely less on virgin materials. In doing so, we support the creation of high quality, low-carbon, climate-resilient buildings and places that our customers and communities both deserve and expect.
We believe our approach will encourage a more valuable and nuanced discussion about what constitutes truly sustainable development, moving beyond the current polarised debate between retrofit and new build.