Landsec eyes renewable energy investment as part of decarbonisation plan

UK property developer Land Securities Group plc (LON:LAND), or Landsec, intends to invest in renewable energy as part of its GBP-135-million (USD 182m/EUR 160m) plan to achieve its carbon dioxide (CO2) reduction targets by 2030.

As announced in 2019, Landsec is eyeing a 70% reduction in CO2 emissions by 2030 from a 2013/14 baseline.

As part of the programme announced on Tuesday, which will cover the company's entire portfolio, Landsec will invest in renewable energy, including installing more photovoltaic (PV) panels onsite.

The nine-year plan also involves replacement of gas-fired boilers with electric systems and reduction of operational energy use.

The company is also designing and building net zero buildings. It's first net zero building, The Forge, is due to be completed in October 2022.

(GBP 1 = USD 1.345/EUR 1.183)

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