Task Force on Climate-related Financial Disclosures

Vicinity is proud to announce its public support for the Task Force on Climate-related Financial Disclosures (TCFD) and is committed to providing market transparency of its management of climate-related risk and opportunities.

Vicinity has been implementing the recommendations of the TCFD for several years, managing climate-related risks and opportunities as reported in its annual CDP (formerly known as Climate Disclosure Project) response.

Vicinity’s commitment to climate disclosure has been recognised by CDP, being one of a small number of companies globally to be included in CDP’s Climate Change A-List in both 2019 and 2020.

Vicinity has also recorded strong results in the Global Real Estate Sustainability Benchmark (GRESB) and the Dow Jones Sustainability Index (DJSI) surveys, ranking as one of the top three performers in the Australian Retail category* of GRESB and seventh globally in the DJSI.

Vicinity has made significant efforts to mitigate climate risk across its portfolio, and prepare for the transition to a low-carbon economy, including:

  • 2030 target of Net Zero carbon emissions for wholly-owned assets^
  • Industry-leading $75 million solar program with 20 assets generating their own clean solar energy
  • Developed a Climate Resilience Program which focuses on increasing the resilience of its centres to extreme weather events.

To find out more about what Vicinity is doing to address Climate Change, visit http://sustainability.vicinity.com.au/improving-our-environment/

The TCFD was established in 2015 by the Financial Stability Board and is committed to market transparency and stability through better and more consistent consideration and disclosure of climate-related risks and opportunities by companies to investors.

* Category includes Listed companies and Unlisted funds.
^ Consistent with global carbon measurement standards, this applies to common mall areas.

 

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