At Morgan Capital we fully recognise the significance of the Climate Emergency and the consequences of inaction Worldwide.
As a major contributor of greenhouse gas emissions, a leading cause of climate change, the built environment must play a vital role in any solution to the problem, giving the Real Estate industry a special responsibility in leading positive change and helping ensure the Carbon Net Zero targets set by the international community, in alignment with the Paris Climate Agreement, are met.
At Morgan Capital sustainability is at the
forefront of our development strategy. With the demands placed on sustainable
development ever increasing, we believe leading from the front is the only
place to be to meet the challenge at hand, whilst also ensuring our buildings
continue to deliver the myriad needs of our tenants, investor partners, and
general public alike.
Our commitment as a developer of commercial real estate is to reposition high-value property portfolios to minimize the respective building’s operating carbon emissions and embodied carbon footprint, with zero-carbon as the core ambition.
We have identified three levels of action that are applied across all existing and future projects;
This level of sustainability applies to all assets currently under management and is a minimum requirement of all recent or future projects. The key principles are:
- Promote sustainable “Best Practice” design standards and Green accreditations
- Minimise construction and operational carbon as far as possible
- Delivering sustainable design that aligns with the development’s aspirations
- Regular audits of completed developments to seek continuing improvements and efficiencies
This level of sustainable development has transparency and collaboration at its centre and requires consistency from all parties. It includes all of Level 1, plus:
- Deliver schemes that are “in use” carbon neutral through investment in offsetting and procurement of renewable energy (operational carbon)
- Monitor and report on the embodied carbon footprint of all construction activities (embodied carbon), ensuring it is considered in all strategic thinking and decision making
- Promote procedures to measure and reduce consumption of both embodied and operational carbon throughout the building’s lifecycle; targets and performance to be benchmarked and reported
This level of sustainability puts in place measures to attain Net Carbon Zero at the outset. A “Level 3” development is Carbon Neutral. In addition to the design or management principles applied in level 1 or level 2, level 3 includes:
- Commitment to ultra-low-carbon energy (operational carbon) and embodied carbon (embodied carbon) strategies, considered in the context of high levels of site utilisation associated with development within constrained city-centre locations, for example London’s central activity zone
- Promotion of new technology and new forms of procurement and construction, that are environmentally and economically considerate
- Investment in off-site carbon-offsetting as integral part of all commercial property portfolios, to fully realise sustainability and net-zero-carbon agendas, with a direct, visible, and auditable link between a real-estate portfolio and its respective carbon offsetting investments