Vicinity Unwrapped: Our Sustainability Story

Vicinity Centres (Vicinity, ASX:VCX) is pleased to present our FY21 update of Vicinity Unwrapped: Our Sustainability Story.

FY21 was another successful year for Vicinity, as we continued to make progress towards delivering the long-term commitments under our sustainability strategy, with the aim of creating sustainable destinations that shape better communities. It also complements and expands on the financial and non-financial performance disclosed in our 2021 Integrated Annual Report.

Some of our noteworthy highlights this year include:

  • Progressing towards our net zero carbon emissions target by 2030* with a 5% reduction in carbon intensity, supported by Australia’s largest shopping centre solar roll out ($73 million investment) with 30.6MW installed across 19 Vicinity assets
  • Continuing to improve our environmental efficiency across the portfolio, achieving a 7% reduction in energy intensity and a 9% reduction in carbon intensity
  • Achieving a 4.6 Star and 3.4 Star NABERS Energy and NABERS Water Portfolio Rating respectively, for the largest portfolio on the NABERS SPI^
  • Becoming formal supporters of the Task Force for Climate-related Financial Disclosure (TCFD) and participants to the United Nations Global Compact (UNGC)
  • Establishing our new three-year corporate community partnership with the Australian Red Cross to improve youth engagement and employment in our communities
  • Contributing $3.2 million in value to community investment
  • Publishing our inaugural Modern Slavery Statement and advanced management of modern slavery risks within Vicinity’s supply chain.
  • Progressing our commitment to reconciliation through our Innovate Reconciliation Action Plan (RAP), and
  • Procuring $6.2 million of services through social and indigenous enterprises over a four-year period to 30 June 2021, surpassing our cumulative target of $4.5 million and becoming members of Supply Nation to further our commitments to indigenous businesses.

The investment community continued to recognise our sustainability program as industry-leading, with Vicinity included on the CDP’s Climate A-List in 2020 for a second consecutive year.

To see our results and achievements during FY21, please click here.

* For wholly-owned retail assets. Consistent with GHG Protocol, this applies to common mall areas.
^ NABERS Sustainable Portfolios Index 2021.

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