we generate positive environmental outcomes
The construction and operation of our portfolio is focused on reducing carbon emissions and improving climate resilience
Reduction in energy intensity since FY16
Total waste recycled
Renewable energy generated
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 Carbon by 2030 Target
We have committed to achieve Net Zero Carbon emissions in our common malls 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.
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 32.85 MW of solar capacity across 22 centres, generating 46,215 MWh each year - the equivalent of powering 8,099 average Australian homes.
4.6 STAR Portfolio NABERS Energy rating
Ranked #2 in the ANZ Retail Listed category by Global Real Estatate Sustainability Benchmark (GRESB)
Ranked #8 out of ~450 real estate companies globally in Dow Jones Sustainability Indices (DJSI) survey