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Grosvenor announces global carbon commitment, growth of property portfolio
Grosvenor has unveiled a new global carbon commitment that will see all its businesses reduce emissions in an effort to limit global warming.
“We have set a Grosvenor-wide commitment to further reduce our direct and indirect emissions across all our businesses to deliver, at a minimum, a science-based carbon reduction in line with limiting global warming to 1.5 degrees Celsius,” said Mark Preston, CEO of Grosvenor. “We believe that this is the right thing to do but also see it as an essential value-driver, which will underpin the resilience of our business.”
In other news, Grosvenor said it continues to drive its residential activities while advancing carbon-reduction programs in its property portfolio. Design, entitlement, and site preparation at two large-scale, mixed-use, master-planned developments is progressing, representing a $4.9 billion development pipeline in Metro Vancouver, British Columbia.
In Washington D.C., work has begun on a 237-unit va