Wallenstam applies for Science Based Targets
Wallenstam is now taking the next step in its sustainability work by setting new Science Based Targets aligned with the Paris Climate Agreement. The company is applying with the new targets to the global climate action partnership - the Science Based Targets initiative (SBTi). Pending validation of the targets, the work is continuing on the previously adopted climate targets in the current business plan.
The Science Based Targets initiative is a partnership between CDP, the World Wide Fund for Nature (WWF) and the United Nations Global Compact, among other actors, which was launched in 2015 in connection with the Paris Agreement.
“We are proud of the result with our current climate targets where we have reduced the CO2 emissions from both our construction and management operations. Working with Science Based Targets will be the next step forward in Wallenstam’s sustainability journey. It is an effective tool to set measurable targets and to work in a structured way going forward. As one of Sweden’s larger private property companies, we want to and we can make a difference,” says Karin Mizgalski, Sustainability Manager at Wallenstam.
The Science Based Climate Targets are set on the basis of what according to research is required by each sector and organisation to together achieve the goal of limiting global warming to 1.5˚C.
Wallenstam was the first in the property sector in 2013 to be self-sufficient in renewable electrical energy. Today the business is working with four concrete climate targets in the current business plan. The implementation of Science Based Targets will involve an increased commitment. The publication of the new Science Based Climate Targets is expected to occur in the second half of 2022.
For further information, please contact:
Karin Mizgalski, Sustainability Manager, Wallenstam AB, tel. +46 31 20 00 00 or +46 730 78 23 70
www.wallenstam.se
Wallenstam is a property company that manages, builds and develops properties for sustainable living and enterprise in Stockholm, Gothenburg and Uppsala. The property holding is valued at around SEK 64 billion and the customer base consists of around 11,000 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable electrical energy through its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.