Reducing our carbon footprint further

Reducing our carbon footprint further

This plan, Planet Positive: Carbon, hinges on our commitment to eliminate more carbon than we emit, and over the past two years we’ve made tremendous strides towards achieving this, with our overall carbon footprint reducing by 80 per cent as of 1 January this year. A key element in our approach has been our swift transition to renewable electricity at our retail and office assets1 across NSW, VIC, QLD, WA and ACT through a series of energy supply agreements.

These agreements have seen our entire retail and build to rent portfolios supplied with 100 per cent renewable electricity, along with over 90 per cent of our office portfolio, delivering significant savings in carbon emissions. In fact, we expect to eliminate approximately 60,000 tonnes of carbon emissions in 2021 alone, which is equivalent to taking more than 27,000 cars off the road. As an added benefit, our transition to renewable electricity delivers a reduction in our scope 3 emissions, which is an increasing area of focus for our investors. We’ve also been able to on-sell renewable energy to a number of tenants within our embedded networks, resulting in approximately 50,000 tonnes of avoided emissions over a 12-month period.

It’s a great step towards our net positive ambition and demonstrates our ongoing commitment to the RE100 program.

Focus Area

 Climate Change