The international real estate group Lendlease has launched a partnership with one of the leading suppliers of sustainable timber for construction, Stora Enso, with the aim of reducing the carbon embedded in its buildings.
Announced late last week at an event in Milan, where the two companies plan to establish a new studio, the partnership will see the two companies accelerate the use of eco-friendly building products through the collaborative research and development of sustainable wood products.
A new studio will be built in Milan, where Lendlease has $ 7.9 billion in urbanization projects underway, to develop sustainable wood products and facilitate their deployment in the company’s European development projects, which together are worth $ 52 billion.
The studio, dubbed Podium MX, will be based in the company’s innovation district in Milan, which is being developed into a site for building technology projects and will be powered by sources from renewable energy.
“This global partnership between Lendlease and Stora Enso represents the natural evolution of a relationship dating back over a decade between our two companies,” said Tony Lombardo, Global CEO and Managing Director of Lendlease.
“Stora Enso is an undisputed world leader in the development of products that have a lighter environmental footprint. This is particularly relevant for Lendlease as we have set ourselves the challenge of meeting the most ambitious emission reduction targets for the real estate industry globally – net zero carbon emissions by 2025 and absolute zero. by 2040. “
The partnership follows 10 years of collaboration between the two companies on eight sustainable timber buildings, which the 25 King office in Brisbane, Australia has shown to reduce carbon emissions by 74% or 5,000 tonnes.
Sustainable wood contains less carbon than traditional building materials such as steel and cement, according to Lendlease, and can play a key role in reducing the construction industry’s environmental footprint.
Commenting on the partnership, Lars Völkel, Executive Vice President of Stora Enso Wood Products, said: “We are delighted to strengthen our partnership with Lendlease, a true pioneer in sustainable building solutions. Together, we will lead the transition to more circular and innovative solutions. and digital solutions to help accelerate the transformation of the construction industry. ”