Hibernia REIT has committed to becoming a net zero carbon business by 2030 and has also signed up to the World Green Building Council Net Zero Carbon Buildings Commitment, becoming the first listed Irish property company to do so.

Hibernia REIT, which owns and develops property and specialises in Dublin city centre offices, set out its new sustainability plans, including its long-term targets for the business. 

Its objectives includes becoming a net zero carbon and climate resilient business by 2030, providing spaces that prioritise the environment, health and well-being and creating long-term positive social impact through its operations.

In a statement, Hibernia said it has made strong progress on sustainability over the past number of years.

Milestones reached included reducing the greenhouse gas intensity of the managed space within its office buildings by 25% on a like-for-like basis from 2016 to 2019 and delivering several new office buildings to LEED Platinum or LEED Gold standard.

The company also secured a four star rating for the first time in the GRESB 2020 survey, while it received a B- score in its first CDP climate change response in 2020.

Hibernia also said it had recruited a full-time Sustainability Manager to lead its efforts in the area.

"Our Sustainability Statement of Intent builds on what we have achieved so far. It also aligns our business with the Paris Agreement, which is based on pursuing efforts to limit global warming to 1.5°C, and ensures we will contribute to Ireland's target of achieving net zero carbon emissions by 2050," the company said.

Kevin Nowlan, chief executive of Hibernia, said that sustainability is at the centre of the company's strategy to provide the best buildings for tenants, and its ambition is to be the most sustainable property company in Ireland.  

"Our Sustainability Statement of Intent commits us to becoming a net zero carbon business by 2030 and will ensure our resilience to climate change, while contributing to Ireland's efforts to reach net zero carbon by 2050," he added.