we generate positive environmental outcomes
The construction and operation of our portfolio is focused on reducing carbon emissions and improving climate resilience
25%Reduction in energy intensity since 2016
52%Total waste recycled
38,913 MWhRenewable energy generated
IMPROVING OUR ENVIRONMENT
Growing our renewable energy capability while reducing our waste and energy intensity
Managing Climate Change
Our approach to managing climate change risk applies the Taskforce on Climate-related Financial Disclosures framework recommendations. Our program is focused on understanding and addressing the risks of climate change and how we can use governance and strategy to increase the resilience of business and improve our environment.
Low Carbon Smart Assets
We have committed to achieve Net Zero Carbon emissions for our wholly-owned retail assets by 2030. Consistent with GHG Protocols, this applies to common mall areas. We will deliver this by using an Integrated Energy Strategy that includes the growth of our renewable energy generation and storage capability as well as a reduction in energy consumption. We are also increasing our material diversion from landfill through re-use and recycling initiatives at all our centres.
A changing climate presents both direct and indirect risks for Vicinity now and increasingly over the long-term. As important community hubs, we strive to create resilient centres that are prepared for and can recover quickly from extreme weather events. By building physical resilience at our centres, we can remain open for trade for our retailers and consumers and offer support to local communities during times of need.
Renewable Energy Program
Since 2018, we have been installing Australia's largest shopping centre solar energy program to help power our centres with clean, renewable energy. The $73 million program has fitted over 80,000 solar panels, generating almost 40,000 MWh each year, 25,000 MWh of which is used at our centres. The program has also trialled world-first clear glass solar and battery storage allowing us to use renewable energy more efficiently.
NABERS 4.6 STARS Energy rating
2021 Oceania Sector Leader and #3 globally in Listed Retail Shopping Centre category by GRESB
Ranked #5 real estate company globally in DJSI survey