Planet

we generate positive environmental outcomes

The construction and operation of our portfolio is focused on reducing carbon emissions and improving climate resilience

-38%

Emissions intensity reduction of Net Zero portfolio vs FY16

52%

Waste diverted

43,487 MWh

Solar energy generated

Figures correct as at 30 June 2024, unless otherwise specified.

IMPROVING OUR ENVIRONMENT

Growing our renewable energy capability while reducing our waste and energy intensity

Managing Climate Change

To mitigate the impacts of climate change, we are committed to decarbonising our operations. Our objectives are to deliver long-term outcomes through creating energy-smart destinations, improving energy resilience, reducing the consumption of electricity generated from the national grid, and significantly reducing our carbon emissions.

Net Zero Target by 2030

We have committed to achieve Net Zero Carbon emissions (Scopes 1 and 2) in our common mall areas across wholly-owned retail assets by 2030 (Net Zero Target). We will deliver this through initiatives including 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.

Adaption and 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 installed more than 35.89 MWh of solar capacity across 23 centres, generating 43,487 MWh during FY24.