At Stockland, we have a longstanding commitment to manage climate change risk and reduce our carbon emissions. Since 2006 we have reduced our emissions intensity by over 50 per cent and saved over $91 million through energy efficiency initiatives, a prominent example of how to leverage sustainability to deliver shared value for us and our stakeholders.
In September 2018, we took our climate strategy to the next level by signing on to the World Green Building Council’s (WorldGBC) Net Zero Carbon Buildings Commitment. A net zero carbon building, as defined by the WorldGBC, is highly energy efficient and is fully powered on-site or by off-site renewable energy sources. Stockland was the first Australian listed property company to make the commitment, and among the first 15 organisations globally to do so.
Our new net zero target commits us to achieving net zero carbon emissions by 2030 across our logistics centres, retirement living operations, and corporate head offices. This will be achieved by installing 11 MW of solar at our Retirement Living and Logistics assets.
The Net Zero Carbon Buildings Commitment challenges companies, cities, states and regions to reach net zero operating emissions in their portfolios by 2030, and to advocate for all buildings to be net zero in operation by 2050. The commitment also requires these achievements be verified on an annual basis by an independent third-party system, such as Green Star. This is a fantastic opportunity for Stockland to not only further reduce carbon emissions, but to deliver improved operational efficiency at our assets. With energy costs rising, the net zero target furthers our commitment to renewable energy options that are more cost-effective for our assets and residents.
On committing to net zero carbon, Mark Steinert, Stockland Managing Director and CEO said: “As a global sustainability leader we are proud to be the first listed Australian property group to commit to net zero targets as part of the World Green Building Council’s Net Zero Carbon Buildings Commitment. Over the past decade we have taken a proactive and holistic approach to sustainability, delivering meaningful, shared outcomes for our security holders, customers and the community.”
We are proud to be working towards a cost efficient and low carbon future in line with the WorldGBC Net Zero Carbon Buildings commitment. Improving the energy efficiency of our assets and communities improves environmental outcomes, provides economic advantages for our business, and supports our purpose of creating a better way to live.
More information on our approach to climate risk management can be found in our annual sustainability reporting, available in our Sustainability Downloads centre.