The Challenge

GCP, a global leader in alternative asset classes, enlisted EVORA to develop a decarbonisation strategy for its logistics real estate portfolio valued at $113 Billion AUM. This strategy set a global baseline and pathway toward decarbonising emissions across scopes 1, 2, and 3, including embodied emissions from development projects.

With properties in China, Japan, Brazil, Vietnam, Europe, and the US, GCP faced the challenge of engaging stakeholders across diverse locations, compounded by varying levels of ESG integration maturity, regulatory landscapes, and data availability.

EVORA overcame linguistic barriers by engaging international teams through translated documents and video-conference workshops, fostering effective collaboration and alignment from the outset.

Our Approach

EVORA began by comprehensively mapping activities, data sources, stakeholders, and outcomes across the expansive and varied platform.

Next, top-down scenario-based modelling was conducted to reflect carbon emissions pathways scenarios, to inform EVORA’s final recommendations.

The outputs encompassed scopes 1 to 3, incorporating operational carbon based on actual energy data and embodied carbon based on life cycle analysis (LCA) data points provided by GCP wherever available.

Regular client check-ins ensured a seamless and well-informed output that accurately reflected GCP’s investment strategy regarding growth and decarbonisation.

Key Outcomes

The initial outcome established a global baseline of carbon emissions across all markets, covering scopes 1, 2, and 3, including operational and embodied carbon emissions.

A decarbonisation scenario was then created to assess intervention impacts and associated capital expenditure.

A recommended roll-out schedule aligned with CRREM science-based targets for operational carbon, and the Science-Based Targets Initiative for embodied carbon, was proposed, followed by the creation of a bespoke Decarbonisation Framework. The intent of which is to guide the management and implementation of decarbonisation interventions by providing reduction requirements and timelines at the regional and global levels.