Lendlease Announces Partnership with Stora Enso to Develop Sustainable Building Materials

In a bid to slash the embedded carbon from its buildings, Lendlease, the international real estate group, announced last week at an event in Milan, Italy that it has launched a new partnership with a leading supplier of sustainable wood for construction, Stora Enso. The announced partnership follows 10 years of collaboration between the two companies on eight sustainable timber buildings, of which the 25 King office in Brisbane, Australia has been shown to reduce carbon emissions by 74 percent or 5,000 tons.

A new studio will be built in Milan — where Lendlease has $7.9bn in urbanization projects underway — to develop the sustainable timber products and facilitate their rollout across the company’s European development projects, which are together worth $52bn.

In commenting on the new partnership, Tony Lombardo, global CEO and managing director of Lendlease said, “This global partnership between Lendlease and Stora Enso represents a natural evolution of a relationship stretching back more than a decade between our two companies.” Lombardo continued, “Stora Enso is an undisputed world leader in the development of products that have a lighter environmental footprint. This is particularly relevant for Lendlease given we’ve set ourselves the challenge of achieving the most aggressive emissions reduction targets for the real estate sector globally — net zero carbon emissions by 2025 and absolute zero by 2040.”

Commenting on the partnership, Lars Völkel, executive vice president of Stora Enso Wood Products division, said, “We are delighted to strengthen our partnership with Lendlease, a true frontrunner in sustainable building solutions. Together we will lead the transition towards more circular, innovative and digitalized solutions to help speed up the construction industry’s transformation.”