Back in 2020, while we were putting the finishing touches to Now or Never, I said that our new sustainability strategy would be a game-changer for our industry, provided we could walk the walk not just talk the talk.
Three years on and our progress against our industry's most ambitious targets continues to make the most compelling case for sustainability both environmentally and commercially. Across 2023, in an inflationary market with uncertainty over energy costs, our people’s commitment to measure, report and scrutinise our operations proved invaluable. We’ve continued to reduce carbon emissions, now at 48% of our 2018 baseline, which represents a saving of £2.7m in energy costs last year alone. Absolute construction waste is down 57% on our 2012 baseline, saving us £34m across 11 years. These achievements underscore the importance of understanding and managing the resources we use across the whole spectrum of our business.
While some may still question the economic case for sustainability, the moral argument is indisputable. With our planet facing unprecedented environmental and social challenges, it is incumbent on us to work in a way that will help leave a world fit for future generations.
What heartens me is the alignment of our values with customers, many of whom have partnered with us, not simply to deliver a construction project, but to undertake a collaborative endeavour to deliver sustainable development. Our order book for sustainable projects has surged since we’ve launched Now or Never as demand grows for projects that achieve net zero in operation or Passivhaus standard. This is only set to increase with two-thirds of local authorities having declared climate emergencies and organisations such as the Department for Education stipulating that all new schools are 'net zero carbon in operation’. Currently, we have over £1 billion of net zero-related work in the preconstruction phase, a further £200 million at bid stage and £500 million of new schemes to be bid during 2024, reflecting the opportunity this fast-growing market presents to us. We are also seeing more customers looking to address carbon impacts across the whole lifecycle by reducing embodied carbon from their projects.
Beyond helping customers to reduce the environmental impact across the whole lifecycle of their buildings, we’ve also worked with them to help make a positive difference to their communities. I’m really proud that 100% of our projects implemented co-created social value plans in 2023, with 90% of beneficiaries saying our programmes had a high impact on their lives. Something recognised in our receipt of the King’s Award for Enterprise for Promoting Opportunity in the summer.
At the end of 2023, Chief Financial Officer Graham Dundas took on day-to-day oversight of our operations as I became executive chairman of the company. I know Graham shares my passion for sustainability. With over 25 years of experience within the company, Graham understands the transformative power of sustainability in driving efficiency, attracting top talent, and enhancing our reputation.
Reflecting on our journey, from achieving carbon neutrality over a decade ago to the significant strides in carbon and waste reduction today, our purpose-driven trajectory since 1852 remains steadfast. We will continue to evolve, embedding sustainability into every aspect of our business, pushing boundaries, and driving innovation to keep raising the bar for sustainable development in our industry.