Pradera has become the latest organisation to join the Better Buildings Partnership’s market transformational Climate Commitment after publishing their Net Zero Carbon Pathway. Pradera is the 37th organisation to join the Commitment, which now represents over £400bn combined assets under management (AUM) and over 11,000 properties globally.  

Founded in 2000, Pradera is a retail property investment, fund and asset management firm, with a portfolio encompassing 1.6m square meters of retail space, including shopping centres, retail parks and grocery stores, representing approximately £2.9bn (€3.4bn) in AUM.  

Pradera’s Net Zero Carbon Pathway sets ambitious targets to achieve Net Zero Scope 1 and 2 carbon emissions for its corporate activities by 2030 and Net Zero Scope 1, 2 and 3 emissions for its managed funds by 2040.  

The BBP Climate Commitment, launched in 2019, requires signatories to publish net zero carbon pathways, disclose energy performance, and develop comprehensive climate resilience strategies. To support signatories on this journey, the BBP has developed a Net Zero Carbon Pathway Framework and Climate Resilience Guide to support their progress towards Net Zero Carbon. Pradera have become the fourth Climate Commitment signatory from outside the BBP membership, reflecting the Commitment’s growing impact in the real estate sector. 

Adam Baranowski, Head of Climate Action & Investment, Better Buildings Partnership, said: “We are delighted to welcome Pradera to the list of signatories to the BBP Climate Commitment. The business has identified the imperative need for decarbonisation as well as the opportunities of doing so, and created a net zero pathway which will drive the business towards this goal. As the fourth signatory to the Commitment from outside the BBP’s membership, we are pleased to see the Commitment continue to drive market transformation across the real estate industry and provide the blueprint for all property firms seeking to make ambitious pledges backed up with transparent delivery plans.” 

Colin Campbell, Chairman, Pradera said: “The Net Zero Carbon Commitment is a significant step forward for Pradera and offers a substantial opportunity to future proof our assets. We believe that there is not only an environmental benefit of transitioning to Net Zero Carbon, but also a commercial gain. Through driving operational efficiencies and reducing carbon impact, we will minimise the risk of obsolescence at our assets and deliver value to our investors, tenants, local communities, and the planet.”