Our Climate Transition Plan sets out how we’re responding to climate change. The targets we’ve set, how we govern and report on progress, and how we’re building resilience into our portfolio, from decarbonisation to nature. Below, you’ll find an overview of our targets, our governance, our approach to nature, and how we track and report progress.
Climate action
Our Climate Transition Plan
Climate change is one of the biggest challenges facing our industry, and having a clear, credible plan to address it matters. To our occupiers, our investors, and the communities we operate in.
Aligned with Ireland's climate targets
Ireland has set a clear course. A 51% cut in greenhouse gas emissions by 2030, on the path to net zero by 2050.
These goals are anchored in legally binding national carbon budgets and with the built environment among the country’s largest sources of emissions, the property sector has a central role in meeting them.
The direction is well established. The Central Bank of Ireland points to “an inevitability to the climate transition”, while EU measures – the Fit for 55 package, the Energy Performance of Buildings Directive, the Corporate Sustainability Reporting Directive and the EU Taxonomy – translate that national ambition into clear, building-level standards.
Investors and lenders increasingly expect the same. Credible climate transition plans and demonstrable resilience are now central to how capital is allocated and how assets are valued.
We treat these targets as the framework for our own plan. By aligning Hibernia’s pathway with Ireland’s 2030 and 2050 goals, we can help lead the transition to high-performance, low-carbon buildings, creating better spaces for our occupiers and lasting value for the communities we serve.
Net zero pathway
Reaching net zero means changing how our buildings are powered, managed and used every day. Our approach focuses on the areas where we can make the biggest difference. Electrification, renewable energy, smart building systems, occupier engagement and reducing embodied carbon across new developments and major refurbishments.
Electrification
- We are transitioning our entire portfolio toward fully electrified buildings, replacing gas-fired systems with electric heating, moving from boilers to heat pumps, and ensuring our buildings take full advantage of Ireland's increasingly renewable electricity grid.
Renewable energy
- 100% of our landlord electricity is already sourced from renewable sources, powered by Irish wind, as well as on-site solar PV arrays, and we are continuously exploring further on-site renewable generation opportunities across the portfolio. We engage our occupiers to look at similar options for their own electricity procurement.
Smart building optimisation
- Smart building management systems at 1 Windmill Lane and 1 Cumberland Place monitor and optimise energy use in real time. We're also rolling out advanced metering, lighting controls and BMS upgrades across the portfolio to continuously reduce operational carbon.
Occupier engagement
- We share energy data, through real-time dashboards, with our occupiers, to help them make informed decisions to reduce their own energy usage. Alongside LEED O&M occupier guides and energy/net zero carbon audits, we help businesses reduce their footprint alongside ours.
Embodied carbon
- Whole life carbon assessments are now standard across our development programme. We are working to reduce embodied carbon in new buildings and major refurbishments – tracking material choices, construction methods and end-of-life performance.
48%
Reduction in managed office emissions since 2019 baseline
21%
Lower portfolio emissions in 2025 vs prior year
2030
Net zero carbon target with milestones, reporting and plan already in place
100%
Renewable landlord electricity, powered by Irish wind
What we want to achieve by 2030
Our net zero pathway is aligned to the Better Buildings Partnership Net Zero Carbon Pathway Framework and the World Green Building Council’s Net Zero Carbon Buildings Commitment, and we report on our progress every year.
By 2030 we will:
- Reduce our overall carbon emissions by 30%
- Reduce the energy use intensity of our managed offices to below 100 kWh/m²/yr
- Reach a BER of B or better across 85% of our assets
- Carry out whole life carbon assessments on all developments, with ambitious upfront embodied carbon targets for every project
- Engage 50% of our operations and property management suppliers each year on Scope 3 emissions
- Maintain full compliance with climate-related reporting and requirements as they emerge
- Embed robust governance to manage climate-related risks and opportunities beyond 2030
Resilient by 2050
Cutting carbon is only half of the task. Dublin faces rising physical climate risks.
Surface flooding, more intense storms and extreme heat – and buildings that fail to adapt risk becoming uninsurable and unrentable.
We assess our climate-related risks and opportunities across a range of time horizons and climate scenarios, combining property-specific adaptation measures with portfolio-level strategies.
This work follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), testing our portfolio against multiple warming scenarios to understand both physical and transition risks over the short, medium and long term.
We disclose the results each year through CDP, giving our investors, lenders and occupiers a transparent, independently benchmarked view of how we identify, manage and build resilience to climate risk. Our commitment is to build comprehensive climate resilience across the portfolio by 2050.
Nature and climate resilience
Nature and the climate are inseparable, and how we treat the land in and around our buildings is central to our resilience.
Green, permeable landscaping helps absorb and slow rainwater, reducing pressure on drainage networks and lowering flood risk during heavier storms. It also cools the urban environment, supports biodiversity and makes our places more resilient to a changing climate.
This thinking extends beyond our buildings. At our lands in the Dublin Mountains, we are focused on long-term ecological stewardship, protecting and enhancing nature as part of how we build lasting climate resilience.
Climate transition accountability
Good governance turns commitments into delivery, with clear ownership, regular scrutiny and accountability from day-to-day action through to board-level oversight.
Accountability runs from our main Board through our Sustainability Committee to each business function, with our Director of Sustainability leading day-to-day delivery.
Our Senior Management Team sets the climate strategy and reviews progress through quarterly climate reports, while our Risk and Compliance Committee integrates climate risk into its quarterly reviews. Progress is reported to Brookfield’s Board each quarter.
We report what we measure
Climate transition accountability requires transparency. We publish detailed ESG data annually and benchmark our performance against GRESB, CDP and sector peers. Our GRESB score in 2025 was 5 Green Stars for our Standing Assets, the highest achievable, and 4 Green Stars for Development. Our CDP score is currently B, the highest available for businesses of our size.
The full plan, in detail
This page captures the headlines. Our Climate Transition Plan 2025 sets out the detail behind them – our decarbonisation pathway, our adaptation and resilience strategy, our governance, and the financial case underpinning each commitment. It is our roadmap to net zero carbon by 2030 and a climate-resilient portfolio by 2050.
