Barangaroo Sustainability Report

Our changing climate Under the Paris Agreement, some 196 parties agreed that it was vital that we all worked together to bring global warming to below 2ºC and as close to 1.5ºC as possible. Beyond this threshold, it is understood that system-wide ecological collapse is likely, with catastrophic implications for the natural world and global communities. In August 2021, the IPCC (International Panel on Climate Change) released the AR6 Climate Change 2021: The Physical Science Basis report. The IPCC uses a broad range of scientific data to provide policymakers, communities, businesses and individuals with the most up-to-date and comprehensive data on climate change. This latest report confirms that we have only limited time to prevent ecological collapse. Right now, despite the efforts articulated at the Paris Climate Summit, we are currently on a trajectory towards 2.7ºC warming – even if all nations abide by their Paris Summit commitments. December 2019 and into the beginning of 2020 saw catastrophic fires sweep our nation, and today our world is gripped by a global pandemic. Our current predicament is a consequence of degraded natural environments, and a global risk identified as far back as a decade ago. It is abundantly clear that the effects of climate change will remain a primary issue now and into the future, impacting the way we design, build and maintain our communities in response. More than half of today’s global population lives in urban areas. That figure will only increase, with an estimated two in three people set to make cities their home by 2050. This confluence of mass migration, a changing climate and finite resources will make the places we build all the more crucial. It is also vital that we acknowledge and respond to the greater impact of climate change on socioeconomically disadvantaged communities. Loneliness and social isolation are increasing to epidemic levels in Australia, exacerbated by the global pandemic and our experience of regular and prolonged lockdowns. Lendlease is already a world leader in developing and regenerating urban spaces. We’re committed to designing smarter and more resilient cities that are low carbon and energy efficient in their operations and use resources sustainably. The IPCC prepares comprehensive assessment reports detailing knowledge on climate change, its causes, potential impacts and response options. Sustainability Report 2020–21 Barangaroo South BUILDING A BETTER TOMORROW 06