Environment | Vicinity Centres

Environment

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 MWh

Renewable 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.

Climate Resilience

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.