The real estate industry accounts for a large part of greenhouse gas emissions, and in order to achieve the comprehensive climate transition that society needs, the industry must change fundamentally. As one of Sweden's largest real estate companies, Akademiska Hus wants to be at the forefront. The company has previously had a goal of reducing its emissions by 85 percent by 2035. Akademiska Hus is now raising the level of ambition further and committing to achieving a 90 per cent reduction in greenhouse gas emissions, of which the remaining ten per cent is neutralised through negative emissions. This will be achieved by 2040, i.e. earlier than any other Swedish real estate company. The new targets have been verified by the SBTi and are in line with the Paris Agreement and what research requires to limit global warming to 1.5 degrees.
"We are very pleased to have our climate goals verified by SBTi, and the fact that we have scientifically based targets gives our climate work strong credibility. It shows that we take climate responsibility seriously and that we are determined to lead the transition towards a sustainable future and climate-efficient campuses. It will take hard work to get there by 2040, but we are confident that we will make it. Our new goal is necessary to limit global warming and ensure sustainable development for future generations," says Erik Florman, Head of Sustainability at Akademiska Hus.
The road to net zero emissions
In order to reach net zero throughout the value chain, Akademiska Hus has established concrete measures and sub-goals to reduce its emissions, and where the so-called climate budget is an important policy instrument. From the base year of 2019, Akademiska Hus has reduced its climate emissions by about 50 percent. This is partly explained by energy efficiency improvements implemented in close collaboration with the company's customers and investments in fossil-free energy. Reducing the proportion of new construction and making use of existing buildings has also been a contributing factor.
"We are working for a more efficient use of our existing property portfolio, where new construction is not a first choice. We work data-driven and analyse with the help of presence sensors to ensure that the spaces we create are really needed. At the same time, we are aware that the climate footprint from our construction projects accounts for a significant part of Akademiska Hus' total environmental impact and we will need to work harder in this particular area to achieve our newly verified climate goals. says Erik Florman.
Read more about the Science Based Targets initiative (SBTi) here.
Erik Florman
Hållbarhetschef