Transforming Dublin Responsibly, our Sustainability Statement of Intent for the period to 2030 consists of three principles that we regard as critical to tackling the identified material issues of our stakeholders.
Our ambition to become the most sustainable property company in Ireland and to be net zero carbon by 2030 is underpinned by our vision to Transform Dublin Responsibly and aligned with the UN Sustainable Development Goals.
We developed this strategy in 2021 following detailed engagement with our key stakeholders and from our deep understanding of the real estate industry. We aim to review this strategy in 2025 to ensure that it remains relevant and that our targets are still ambitious.
Our pillars
Become a Net Zero Carbon and Climate Resilient Business by 2030
If the property industry is to achieve a meaningful reduction in carbon emissions, commitments which result in tangible actions must be made now. We have done that and are committed to becoming a net zero carbon business by 2030 in line with the growing expectations of our stakeholders.
How
- By 2030 reduce our overall carbon emissions by 30% and operational carbon emissions by 40% against a 2019 baseline
- Set an internal carbon pricing mechanism to drive behavioural change and fund the improvements to transition existing assets towards net zero carbon
- Offset residual carbon from 2030 onwards once we have implemented all other feasible measures
- Put climate change resilience at the centre of our business strategy, aligning with the recommendations of the TCFD, and incorporate ESG targets into our remuneration
Our Pathway is aligned to the Better Buildings Partnership Net Zero Carbon Pathway Framework and World Green Building Council’s Net Zero Carbon Buildings Commitment.
As part of these commitments, we are required to report on our annual progress and the steps we are taking along our pathway to achieve our net zero carbon ambition.
Provide spaces that prioritise the environment, health and wellbeing
We remain committed to clustering our buildings so we can provide better services to our occupants. When designing new developments and refurbishing existing buildings, we will create flexible, inclusive and accessible spaces that benefit the wellbeing of our occupants and of the community.
How
- Prioritise health and wellbeing considerations in all of our spaces
- Promote initiatives that maintain an exceptional standard of health and safety with our employees, occupiers and supply chain partners
- Send zero waste to landfill and achieve 70% recycling across all of our managed assets by 2030
- Ensure biodiversity net gain for all major developments and refurbishments by 2030
Create long term positive social impact through our operations
Hibernia, as a landlord and a developer have an obligation to ensure we create positive social change. We are putting in place the mechanisms that allow us to make a greater contribution to society through our new developments and ongoing as we manage these assets in partnership with our occupiers and suppliers.
How
- Better understand the social value that our business brings to our local communities by 2025 and then set long-term targets to 2030
- Partner with and support charity organisations and groups dedicated to resolving issues that directly impact our local communities
- Manage our employees in an inclusive and fair manner that promotes development, collaboration, creativity and diversity
Supporting Documents
Sustainability Statement of Intent
Transforming Dublin Responsibly, our Sustainability Statement of Intent for the period to 2030, consists of the three key principles that we regard as critical to tackling the identified material issues of our stakeholders.
Sustainable Development Brief
The Sustainable Development Brief applies to major redevelopments and refurbishments and is about achieving common goals, providing buildings that are adaptable and resilient to climate change, and that promote the health and wellbeing of their occupiers and the surrounding areas.
Net Zero Carbon Pathway
Our Net Zero Carbon Pathway sets challenging targets dedicated to reducing the embodied and operational carbon emissions across our existing portfolio and pipeline of projects.
Community Engagement Charter
Our Community Engagement Charter details the four core areas of action by which we create greater social impact within our local communities.
SUSTAINABILITY
Materiality Matrix
Our strategy, Transforming Dublin Responsibly, is informed by our materiality assessment, undertaken every 2 years, which identifies those ESG issues that matter most to our stakeholders.
Our 2022 Materiality Assessment Process
Stage 1
- Research and planning by consultant
- More than 40 key internal and external stakeholders were consulted and asked to score key ESG issues identified from sources such as GRI, GRESB, CDP, peer reviews and compliance obligations
Stage 2
- We took a “double materiality” approach, i.e. considering the materiality of sustainability factors affecting the Group (inward materiality) and how Hibernia impacts society and the environment (outward materiality)
Stage 3
- The results were plotted on a materiality matrix.
- Although these are the material issues facing our business, they should not be viewed in isolation. They are increasingly interconnected and can often impact each other.
ESG top stats
We are in the third year of our 2030 strategy and continue to make positive progress towards achieving on our goals.
2022 KEY FACTS
5stars
56%
>€98k