Vicinity to reach Net Zero carbon emissions by 2030

7 August, 2019
Elizabeth City Centre - Car Park solar
Vicinity strengthens its commitment to sustainabilityCredit: Vicinity

Vicinity Centres (Vicinity) today announced a Net Zero carbon target for its 34 wholly-owned shopping centres, to be reached through a combination of its industry-leading solar program and energy efficiencies by 2030.

The new carbon target comes as stage two of Vicinity’s $73 million solar investment program, announced in 2018, nears completion with renewable energy systems being installed across 22 shopping centres in six states.

Our 2030 Net Zero carbon target will now become the centrepiece of our commitment to long-term sustainability.
Grant KelleyVicinity CEO and Managing Director

“As Australia’s second largest retail property company, we recognise the role Vicinity plays in transitioning to a low-carbon economy, and that’s why our sustainability strategy is focused on delivering outcomes that are good for our business, the community and the environment,” Mr Kelley said.

“We’re proud that Vicinity is currently the third most sustainable REIT in the world, according to the Dow Jones Sustainability Index. While we know there is more to do, we see our new carbon target as an opportunity to further strengthen our sustainability credentials.”

“We know our customers, communities and investors expect us to have a robust and considered plan to reduce our environmental impact, while driving efficiencies that make long term business sense,” Mr Kelley said.

Chief Strategy Officer Justin Mills said Vicinity had undertaken a portfolio-wide review of its energy consumption, which had seen innovation and improvements in lighting, air-conditioning and optimising building performance.

Our Net Zero carbon target focuses on our wholly-owned centres but we’re also working closely with our co-owners and retailers to drive efficiencies and deliver shared value for our communities and the environment.
Justin MillsVicinity Chief Innovation and Information Officer

“Since June 2016, Vicinity’s energy efficiency program has reduced carbon emissions by 14 per cent,” Mr Mills said.

The Net Zero carbon target is a key component of Vicinity’s sustainability strategy which focuses on shaping better communities, creating sustainable destinations of the future, and building climate resilience across the portfolio; and it aligns to Australia’s commitments under The Paris Agreement.

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About Vicinity Centres
We are one of Australia's leading retail property groups, who are reimagining the way Australians live, work and play. We own and manage some of the most recognisable and loved retail destinations across Australia and are evolving to transform our portfolio into destinations that offer a broad selection of retail, residential, and office spaces.
For further information contact:
Corporate Communicationsmedia.relations@vicinity.com.au

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