Stensdal Group is the first Danish-owned company in the real estate industry to join the international climate initiative Science Based Targets initiative (SBTi) and have their ambitious climate goals endorsed. The real estate company commits to reducing its CO2 emissions in Scope 1 and 2 by 42% by 2030 and commits to becoming 'net-zero' by 2050.
With SBTi's validation and approval of Stensdal Group's CO2 emission reduction targets, the real estate group joins the green transition and the fight to reduce the construction and real estate industry's large climate footprint. Of the newly approved climate targets, Stensdal Group commits to reducing CO2 emissions from its own operations (Scope 1 and 2) by 42% by 2030 and a further commitment to become 'net-zero' by 2050 with a total reduction of the company's CO2 emissions by 100% - all with 2022 as baseline year.
SBTi will streamline climate action
At Stensdal Group, joining SBTi is an important part of a comprehensive ESG strategy, which they have started to roll out across the organization during 2024. The recognized climate standard is seen as a catalyst for action and progress, as it helps to set direction and effectively push the focus areas and goals that have been defined in Stensdal Group. At the same time, they also recognize that joining SBTi and validating the climate targets is a good business case that increases the transparency and credibility of the sustainability efforts.
"Naturally, we are very proud to have our climate targets approved by SBTi. Similarly, there is also a certain amount of awe in the realization that the endorsement and the targets are obviously binding and that there is a great - but incredibly important - work and responsibility ahead of us in contributing to the goals of the Paris Agreement. The endorsement of the targets is a clear underlining of our sustainability ambitions and highlights our desire to show and document the progress we are making." - CEO, Søren Stensdal
Clear direction with great impact
With the validation and approval from SBTi, Stensdal Group's climate goals live up to scientific standards and support limiting the global temperature increase in accordance with the Paris Agreement. At the same time, Stensdal Group also recognizes that SBTi should be seen as a competitive parameter, as it increases the credibility of the direction set, and at the same time it supports the real estate company's ambitions to be at the forefront when it is expected to be covered by the new EU requirements for sustainability reporting.
"It has been an important prerequisite from the start that our strategy is based on an analytical and systematic approach, and not least an understanding of the context, so that our focus areas and ambitions actually hit the nail on the head, while meeting the expectations of our stakeholders. A combination that, in my opinion, can really help accelerate the green transition. There is no doubt that we see SBTi and the approval of our reduction targets as an important milestone that will contribute to our ESG efforts on several levels." - Head of Communications & ESG, Kenny Louring
The real estate company is now continuing to work on initiatives to reduce emissions in its own operations and in the rest of the company's value chain, including collaboration with suppliers and customers, to reduce Scope 3 emissions. In addition, future residential buildings in Stensdal Group must achieve at least DGNB Gold certification, and the existing properties in the commercial portfolio must continue to be energy optimized until 2030, so that the portfolio on average has achieved at least energy label B.
Reducing CO2e emissions is far from the only environmental focus area at Stensdal Group. In Denmark, nature is in serious decline and planetary boundaries have long since been exceeded. This is not least due to linear thinking and overconsumption of the earth's natural resources, which has created difficult conditions for biodiversity. That's why the Stensdal Group has sharpened its focus on areas related to biodiversity. Here, circular principles will be promoted to a much greater extent and implemented in connection with construction, renovation and maintenance of properties, and new standards and tools will promote nature and biodiversity in all outdoor areas to improve conditions for insects, bees and butterflies.
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About Science Based Targets initiative (SBTi)
The Science Based Targets initiative (SBTi) has become the gold standard for companies setting ambitious and binding targets for reductions in their greenhouse gas emissions. Climate targets set through SBTi also contribute to the achievement of the Paris Agreement, which requires countries to limit global temperature increases to 1.5 degrees Celsius by the end of this century (from pre-industrial levels). SBTi is based on the Greenhouse Gas Protocol and founded by the UN Global Compact(UNGC), CDP, World Resources Institute(WRI) and World Wildlife Fund(WWF). Read more at sciencebasedtargets.org.