London property firm builds on zero carbon goal with £90m retrofit programme

A London property firm has announced a £90m programme to retrofit its estate as it aims to become a net zero carbon business.

Grosvenor Britain & Ireland is launching a ring-fenced commitment to a targeted energy saving and retrofit programme, which it says will futureproof heritage and other buildings across Mayfair and Belgravia.

A £25m retrofit programme has already contributed to a 25 per cent carbon saving since 2013, with this latest investment hoped to reduce carbon emissions further.

James Raynor, chief executive of Grosvenor Britain & Ireland, commented: “Climate change is the single biggest risk to our business and society.

“To build climate resilience and future proof our portfolio we must fundamentally transform how we operate, develop and manage places.

“Today’s announcement signals a new level of ambition to climate action, setting out how we will become a net zero business in the next 10 years.”

Tor Burrows, executive director of sustainability and innovation at Grosvenor Britain & Ireland, added: “Emissions from the built environment in Westminster are double the UK average.

“In committing £90m to the decarbonisation of our properties in Mayfair and Belgravia we will improve the resilience of our portfolio and the places in which we work.

“By 2030 we will have invested over £115m in energy efficiency and retrofit programmes on our estate.”