We are committed to acting on climate change and in 2022 we developed our target to reach net zero emissions ahead of the UK’s 2050 target.
Net Zero Transition Plan
Our Net Zero Transition Plan outlines our key steps to reach net zero emissions in our operations by 2035 and across our value chain by 2045. It summarises our targets, roadmap and engagement plan.
Download our Net Zero Transition Plan
Our roadmap to net zero
The Transition Plan outlines a roadmap to decarbonise our operations, supply chain and customer homes, reducing absolute emissions by at least 90%.
The net zero commitment builds on existing strong progress on climate change. We have reduced emissions intensity (scope 1 and 2) by 51% since 2013, and our environment strategy, launched in 2021, includes ambitious targets up to 2030 on climate change, nature and resources.
Ambitious net zero target
We have set an ambitious target to reach net zero in our operations by 2035 and across our value chain by 2045 – ahead of the UK’s target.
By 2045 we will reach net zero greenhouse gas (GHG) emissions (Scopes 1, 2 and 3) across our value chain on a 2019 base year (comprising at least a 90% reduction and neutralising residual emissions).
We also have the following supporting targets:
By 2025 Scopes 1 and 2 GHG emissions will be reduced by 36% per 100m2 of completed floor area against a 2019 base year
By 2035 Scopes 1 and 2 GHG emissions will be net zero
By 2030 all our homes will be zero carbon ready (becoming true net zero on decarbonisation of the electricity grid)
By 2030 Scope 3 GHG emissions will be reduced by 52.8% per 100m2 of completed floor area from a 2019 base year (based on a reduction of 46.2% in absolute emissions)
Our target was developed with the Carbon Trust in line with the requirements of the SBTi Corporate Net Zero Standard. We have submitted our target for validation by the SBTi and expect to receive this during 2023. In developing our target we have also taken into account the ‘Metrics, Targets, and Transition Plans’ guidance issued by TCFD. We have modelled the costs and investment required to reach our goals as well as our approach to neutralising residual emissions.
“I am pleased that we have set out our target to become net zero by 2045 – five years ahead of regulation – and more importantly, that we have a credible plan to get there. Increasingly, we are seeing that the energy and environmental performance of homes are of crucial importance to our customers. This ambitious roadmap cements Taylor Wimpey’s commitment to net zero, not only to meet customer expectations for low carbon living, but to support the future resilience of our business and ensure we continue to do the right thing by all stakeholders.”
Jennie Daly, Chief Executive
Taking action across our value chain
Our transition to net zero will impact many aspects of our business strategy including the performance and appearance of the homes we build, our specifications and cost base, the design and trade skills we need and the knowledge of our sales, production and customer service staff.
Neutralising residual emissions
Once we have reduced our emissions by at least 90% we will neutralise the remaining emissions through the removal and storage of carbon from the atmosphere, in line with the Science Based Targets initiative requirements.
We have set out three principles to guide our approach to neutralising emissions.
Principle 1: Emissions reduction first
We will implement emissions reductions first, and offset only where we have not identified a practical and reasonable alternative for the last 10% of emissions.
Credible (use a robust baseline and measurement methodology) and use a recognised best practice standard.
High quality (taking into account factors such as additionality, permanence, leakage, double counting and co-benefits).
We will use standards such as the Verified Carbon Standard (VCS), Gold Standard Verified Emissions Reduction (GS VER), Voluntary Offset Standard (VOS) and Climate Community and Biodiversity Standards (CCB).
Principle 3: Improving our understanding
We will deepen our knowledge of best practice in carbon removal offsetting, including:
Conducting regular reviews of the offsetting market.
Carrying out research and development, including pilot projects, to identify solutions that work best for our business.
We support the Oxford Principles for Net Zero Aligned Carbon Offsetting and align our approach to these principles.