By Sabela Ojea
Land Securities Group PLC said Tuesday that it has created a new 135 million pound ($181.1 million) net-zero transition plan to achieve its transition to net zero emissions and decarbonize its portfolio.
The London-listed commercial-property developer and investment company said the fund will be used to finance several initiatives over the coming nine years that will reduce its carbon footprint.
The company in 2019 increased its science-based targets, targeting a 70% reduction in carbon emissions by 2030 compared with a 2013-2014 baseline.
"It is expected that overall the program will see 24,000 tonnes of carbon emissions removed from LandSec's operations," it said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix