Landmark – Sustainability: Keeping on track of targets in 2025

Following the launch of our latest report: Reflections and predictions for sustainability in the property sector in 2025, Chris Loaring, Landmark’s Group Sustainability Director, explains why the industry is getting onboard with sustainability initiatives now to derive early value and avoid issues further down the line.

Imagine sustainability is a train. It's gathering momentum slowly but it’s arguably not yet moving at high speed. It’s an exceptionally heavy train and once it starts, it's never going to stop. At the moment, you could say that the train is only half a mile out of the station, but it will get very fast, very quickly.

The net zero journey

The first metaphorical stop on that railroad is a realisation that people are almost too late to begin planning for near-term sustainability targets. There is a danger that if firms and professionals don't get involved within the next 18 months, they’re going to have a serious problem establishing a credible position on entering a net zero programme that has a near-term 2030 target.

The second stop on the track will be a recognition that industry professionals will need to proactively interpret regulatory guidance on sustainability and upskill appropriately. The third, and perhaps most challenging, stop on this journey will be tackling scope 3 emissions.

We're all in the same boat when it comes to scope 3. Every professional service firm has the same net zero challenge; scope 3 is easily the largest share of our emissions footprint. And within that, the majority of it is bound into our supply chain. This represents a massive co-dependency problem that could be one of the biggest impediments to overall success.

Act now to minimise risk exposure

Conceptually, net zero by 2050 is a target most people are comfortable with. You can get under the numbers, build a plan, and have 20+ years to deliver. In reality, most businesses want to strive for the near-term milestone of 2030 to show best practise. However, as we enter 2025, there is a psychological impact that comes with those near-term targets now being just five years away.

There is no hiding from that fact, and anyone who has dipped their toes into sustainability initiatives knows it's a relatively long setup process. The only way to keep up with the train is through knowledge, development and training. The regulation will keep maturing because it has to. But the requirement to act will get so strong that if people don't upskill, the risk exposure will only grow.

Presently, we don't have a critical mass of people demanding sustainable homes because the current generation of homeowners is in the 35-50 age bracket. However, the generation behind that, who are going to be buying or moving homes for the next 20 years, are getting close to being the dominant group. And those people absolutely care about sustainability. In fact, it's their preeminent decision factor. Going back to the train analogy, that momentum won't stop because the next generation after that will care even more.

Sustainability delivers value

The sustainability movement has certainly gathered pace over the last 12 months. There have been material steps taken, not just in terms of regulation but also a growing awareness that you can't not get involved at this stage. There is much more risk in not starting your education and training journey now because in three years’ time the regulatory environment will be very different. By then it won't be optional anymore.

Sustainability is not just a nice to have; it delivers real value. And the requirement to act is now. That's the realisation that we all have to reach. Whether the penny drops due to sustainability’s intrinsic value or the need to take action is irrelevant; both are a symbiotic part of the journey.

Read our report

We believe that peer collaboration is essential to achieve sustainability targets. That’s why Landmark spoke to a panel of leading industry sustainability experts from Latham & Watkins, Taylor Wimpey, Savills, OSB Group, and our own Sustainability division to discuss the direction of travel for sustainability in the property market in 2025.

Read our report now: Reflections and Predictions for Sustainability in the Property Sector in 2025.