Unite Group PLC (The) Publication of Net Zero Carbon Pathway (6607V)
December 15 2021 - 2:00AM
UK Regulatory
TIDMUTG
RNS Number : 6607V
Unite Group PLC (The)
15 December 2021
PRESS RELEASE
15 December 2021
THE UNITE GROUP PLC
('Unite Students', 'Unite', the 'Group', or the ' Company ')
PUBLICATION OF NET ZERO CARBON PATHWAY
Unite Students, the UK's leading owner, manager and developer of
student accommodation, has today published its net zero carbon
pathway, which sets out the activities and investment required to
achieve its objective of becoming net zero carbon across both the
Company's operations and development activities by 2030. The
pathway includes targets for carbon reduction, which have been
formally validated by the Science Based Targets initiative
(SBTi).
The pathway outlines four key steps to achieve net zero
carbon:
1. Reduce operational energy consumption: Based on a target 28%
reduction in energy intensity by 2030 against our baseline set in
2019. This target is in line with the Carbon Risk Real Estate
Monitor (CRREM) 1.5degC energy reduction pathway.
2. Invest in renewable energy: We have a commitment under the
RE100 programme to source 100% renewable electricity by 2030 (2020:
74%) and will seek to purchase more energy in the future in a way
that supports the development of new renewable energy generation
capacity.
3. Reduce embodied carbon: Based on targets in line with the
RIBA Climate Challenge programme, which require a 48% reduction in
embodied carbon by 2030.
4. Mitigate residual carbon: We will offset any residual
operational or development emissions that cannot be removed
completely using certified carbon offsets, aiming to prioritise
measures that actively remove atmospheric carbon.
The Group has already invested over GBP30 million in energy
efficiency since 2014 and, as outlined at our Capital Markets Day
in October, has identified a further c.GBP100 million of additional
opportunities for capital investment to achieve its carbon
reduction targets. This represents an annual investment of around
GBP10 million in energy initiatives going forward, equivalent to
GBP5-7 million p.a. on a Unite share basis. These initiatives will
also deliver an attractive financial return through a payback
period of less than 10 years from savings in utility costs.
Richard Smith, Chief Executive of Unite Students, commented
:
"Taking bold and decisive action to reduce environmental impact
makes good business sense, as well as being the right thing to do.
We believe that our 2030 net zero carbon ambition, built on science
based targets validated by the SBTi, will help us play our part in
tackling climate change for the benefit of generations to come. We
will achieve net zero by changing how we design and develop new
buildings to cut embodied carbon, investing in existing buildings
to make them as energy efficient as possible, and buying renewable
energy in a way that directly supports the creation of a new green
power generation. We understand the scale of the challenge but
believe it will make us a stronger and more resilient
business."
The pathway document can be accessed via the following link:
https://www.unite-group.co.uk/sustainability/our-net-zero-pathway
ENDS
For further information, please contact:
Unite Students
Joe Lister / Michael Burt Tel: +44 117 302 7005
Unite press office Tel: +44 117 450 6300
Powerscourt
Justin Griffiths / Victoria Heslop Tel: +44 20 7250 1446
About Unite Students
Unite Students is the UK's largest owner, manager and developer
of purpose-built student accommodation, serving the country's
world-leading Higher Education sector. We provide homes to 73,000
students across 173 properties in 25 leading University towns and
cities. We currently partner with over 60 Universities across the
UK.
Our people are driven by a common purpose: to provide a 'Home
for Success' for the students who live with us. Unite's
accommodation is safe and secure, high quality and affordable.
Students live predominantly in ensuite study bedrooms, with rents
covering all bills, insurance, 24-hour security and high-speed
Wi-Fi. We also achieved a five-star British Safety Council rating
in our last audit.
Founded in 1991 in Bristol, Unite Group is an award-winning Real
Estate Investment Trust (REIT), listed on the London Stock Exchange
and a member of the FTSE 250 Index. Unite is invested in and
operates two specialist funds and joint ventures with institutional
investment partners: the GBP3 billion Unite UK Student
Accommodation Fund (USAF) and the GBP1 billion London Student
Accommodation Vehicle (LSAV).
For more information, visit:
Unite's corporate website www.unite-group.co.uk
The student site www.unitestudents.com
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