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Redrow Sets Ambitious Target to Achieve Net Zero Across Whole Business and Supply Chain by 2050

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As part of its climate change strategy Redrow has announced an ambitious commitment to achieving science-based net-zero emissions by no later than 2050 across its own operations,  the homes it builds, and the operations within its supply chain.

The business has signed up to the Science Based Targets initiative (SBTi)’s highest Business Ambition of pursuing efforts to limit warming to 1.5⁰C, and will establish interim science-based targets across scopes 1, 2 and 3 in line with SBTi criteria and recommendations in 2022.

The business has made solid progress in reducing its carbon footprint in recent years.  More efficient use of diesel fuel on-site resulted in a 14% reduction in emissions in the past year and from July 2021, all plots, show homes and site compounds have been supplied by 100% Green certificated electricity.

On top of that, together with its supply partners, the business has trials underway to explore the efficacy of Hydrotreated Vegetable Oil (HVO), a biodegradable non-toxic fuel that has the potential to replace diesel across all of their construction operations.

Redrow sees committing to limiting warming to 1.5⁰C as a vital next step in tackling the climate crisis. While the goal set at the Paris Agreement was to limit global warming to well below 2⁰C, there is now a consensus that businesses and society need to go much further, and Redrow has committed to a 1.5⁰C target in line with that evidence. Indeed, earlier this year, the Climate Change Committee warned that time is running out for realistic climate commitments. The housing sector has a vital role to play in tackling climate change with buildings accountable for 39% of global carbon emissions.

In order to meet these rigorous commitments, Redrow has appointed the Carbon Trust to measure the baseline of its Scope 3 emissions, model its Science Based Targets and advise on potential solutions and changes to business practices.

The Carbon Trust is an organisation that has pioneered decarbonisation for more than 20 years for businesses, governments and organisations around the world.  With their support, Redrow sees a real opportunity to demonstrate that good environmental performance can bring a competitive advantage and create long term sustainable value for the business and its stakeholders.

The business has also joined the Race To Zero, a global campaign to rally leadership and support from businesses, cities, regions, investors for a healthy, resilient, zero carbon recovery that prevents future threats, creates decent jobs, and unlocks inclusive, sustainable growth. It mobilises a coalition of leading net zero initiatives, representing 733 cities, 31 regions, 3,067 businesses, 173 of the biggest investors, and 622 Higher Education Institutions.

Matthew Pratt, Group Chief Executive at Redrow, comments:

“Playing our part in tackling the climate emergency is a key priority and Redrow will set ambitious science-based targets to reduce carbon emissions across our whole business. We will set a long-term target to reach net zero emissions no later than 2050 and importantly we will also be setting interim targets for both our direct and indirect emissions, and these will be consistent with limiting global warming to 1.5°C.

“No one has all the answers today, but it’s vital that we all do everything we can, and making ambitious, far-reaching commitments and holding ourselves to account is an essential part of that. We look forward to collaborating with our partners and supply chain to deliver these goals.”

Dominic Burbridge, Director at Carbon Trust, comments:

“We are pleased to be supporting Redrow as they strengthen their commitment to carbon reduction and plan the next phase of their climate change strategy.   It is encouraging to see them making such a bold pledge and building on the progress they’ve made in recent years.”

Redrow is working with supply chain partners to develop solutions to ensure its homes will be ready for the Future Homes Standard in 2025. Its product innovation program includes a number of low-carbon technology trials including air source heat pumps and a smart home and energy management system, and the development of new working practices to establish which solutions will make a tangible impact as the business progresses towards its Net Zero targets.

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Redrow is a leading UK premium housebuilder, proudly headquartered in Ewloe, Flintshire.

Established in 1974, it has earned a unique reputation for quality, building beautiful homes and communities, creating, in its words, a better way to live. It delivers for both investors and the wider community by centring all its activities around its three values of creating thriving communities by building responsibly and valuing people, all while engaging with colleagues and stakeholders.

Redrow is listed on the London Stock Exchange and is a constituent of the FTSE 250 index. For the year to 27th June 2021, Redrow built more than 5,500 premium new homes across England and Wales and the Group reported revenue of £1.9bn.

Redrow directly employs well over 300 people across Wales, 15% of whom are trainees, graduates or apprentices, at its headquarters, regional offices and developments.

It takes responsibility seriously: last year, Redrow achieved the Global Good Company of the Year Silver award in recognition of its social impact and launched its ‘Nature for People’ biodiversity strategy, established as part of a long-standing partnership with the Wildlife Trusts. In June 2021, Redrow was included in the FT’s inaugural listing of Europe’s Climate Leaders for achieving significant reductions in its greenhouse gas emissions between 2014 and 2019.

Over the past year, Redrow has consistently been rated as ‘excellent’ on Trustpilot and once again achieved the Five Star Customer Satisfaction award from the Home Builders’ Federation (HBF). The company is also one of just eight UK construction companies to be named a Diversity Leader in the Financial Times’ inaugural list of European leaders for workplace diversity and inclusion.

Visit www.redrow.co.uk to find out more.

 

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