Ambitious Emissions Reduction Targets

Metlifecare is Australasia’s first retirement village and aged care operator to have its sustainability targets validated by the global Science Based Targets initiative (SBTi). This global body is focused on enabling businesses to set ambitious emissions reduction targets in line with the latest climate science. And Metlifecare’s three targets are ambitious.

chieving validation is a challenging process with a high bar set by SBTi. Metlifecare has now achieved that validation and, in doing so, joins 4,000 companies globally and 26 other companies across Aotearoa who are each driving their sustainability programmes to significantly decrease emissions before 2030. Of the 26 companies in New Zealand, only 11 have set such ambitious targets as Metlifecare to keep global warming within 1.5 degrees. This is an important milestone for Metlifecare.

The three validated targets comprise of Metlifecare's commitment to:

• reduce its absolute greenhouse gas emissions by 42% by 2030, from a 2021 baseline

• increase annual sourcing of renewable electricity from 0% in FY2021 to 100% by FY2030

• reduce scope 3 GHG emissions by 51.6% per m2 by FY2030 from a FY2021 base.

Science-based targets, validated by the SBTi, provide companies with a credible and clearly defined path to reduce emissions that align with the Paris Agreement's goals to tackle climate change and its negative impacts.

Metlifecare’s Sustainability Manager, Ranjana Lal, says while the SBTi validation is a significant achievement, the real work is just beginning.

“Achieving target validation from SBTi is a rigorous process, so we’re incredibly proud to have achieved this important milestone in our programme of work. However, to achieve our targets by 2030, we have a lot of work in front of us over the next few years.

“Essentially, we have committed to reducing our electricity and energy use by almost half within the next seven years, and this is during a period of significant growth for Metlifecare. We will be continuing to buy land, construct, develop and acquire villages while at the same time significantly decreasing our greenhouse gas emissions.

“With the ongoing commitment from Metlifecare’s owners EQT and guidance from sustainable transformation specialists Tadpole, we’re committed to becoming an industry leader in sustainability. Our ambition is to be a business that is enterprising and adaptive to global sustainability challenges. Confirming our science-based targets genuinely underpins our commitment to this,” said Ranjana.