Global Commitment for Net Zero Carbon Buildings

14 Sep 2018


Many of Australia’s top ASX listed companies have risen to the challenge and committed to 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. Hear from them why they signed on:

AMP Capital Wholesale Office Fund (AWOF)

"AMP Capital Wholesale Office Fund (AWOF) is pleased to be a founding signatory of the World Green Building Council Net Zero Carbon Building Commitment. AMP Capital, is a responsible global investment firm and this is another important step that we, along with other leading global organisations, are proud to take to demonstrate our commitment to driving action on climate change.
We are seeing increasing investor interest in climate change and sustainability issues, many who have their own sustainability commitments and expect AMP Capital to act to minimise their exposure to carbon risk. This aligns with our purpose in AMP Capital Real Estate which is to shape a better future, and one of our core values which is to expect courageous long-term thinking.
In 2017, AWOF made a public commitment to be Zero Net Carbon across the portfolio by 2030 (for Scope 1 & Scope 2 emissions), and we have developed a zero carbon pathway charting a trajectory of energy efficiency improvements and renewable energy procurement that will see us achieve the target of 70,000 tonnes of CO2 emissions abatement." 

- Nicholas McGrath, Fund Manager, AMP Capital Wholesale Office Fund.

City of Sydney

"Buildings are one of the biggest sources of emissions in our City, and to achieve our target of net zero emissions by 2050, we need to ensure buildings are well-designed and operate efficiently.

We are proud to be part of the Global Commitment for Net Zero Carbon Buildings, alongside other cities and jurisdictions taking strong action on climate change" 

- Lord Mayor Clover Moore.

Cundall

"The Federal Government’s energy and climate change policy in Australia in 2018 is a shambles. Forward thinking businesses in the property sector can demonstrate the environmental and economic benefit of acting decisively now. Buildings provide significant opportunities to reduce energy consumption and to be a catalyst for more renewables. Becoming a founding signatory of the Net Zero Commitment aligns with two key objectives in Cundall’s new Sustainability Roadmap, Zero Carbon Energy and Climate Positive Action. For both we will reduce our own impacts, and advocate and deliver solutions on projects for our clients. Our industry faces a massive challenge, but through collaboration, innovation and enthusiasm we can all show what is possible to achieve. We don’t really have any other choice,”

- David Clark, Director, Cundall.

Frasers Property Australia

“As a major property group, we feel a degree of responsibility to join the Global Commitment for Net Zero Carbon Buildings and to be part of the solution. We’re not only actively striving to reach net zero emissions in our own developments, we want to maintain a leadership role in encouraging the broader industry to accept the challenge too. It is paramount we increase the pace of change in Australia to ensure we meet our international climate change obligations. To get there, we need to keep investigating different ways to do things. At Frasers Property, we’re focusing on the key planks of low carbon buildings: energy efficiency, renewable energy, passive design and offsets. We are continuing to introduce innovations such as embedded energy networks, use of certified carbon neutral energy in the building and operational phases of our projects, and understanding the potential for prefabricated and modular construction to deliver improved sustainability outcomes, just to name a few. We have enjoyed a strong relationship the Green Building Council of Australia for many years and the Global Commitment for Net Zero Carbon Buildings is a meaningful way for us to continue to grow this relationship though aligned goals.”

- Rod Fehring, Chief Executive Officer, Frasers Property Australia.

GPT Group

"The Australian property sector has been a world leader in reducing carbon emissions, and GPT is proud to be a part of this coordinated industry-wide and global effort for all new buildings to be zero carbon by 2030. GPT believes reducing emissions through the more efficient use of energy also makes good business sense as it will reduce the cost of operating our buildings.”

- Bob Johnston, Chief Executive, GPT Group.

Stockland

“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 (WorldGBC) Net Zero Carbon Buildings Commitment.

“Today’s announcement marks the launch of a net zero target for Stockland’s head office tenancies and our Logistics and Retirement Living divisions, all by 2030. This will be achieved by installing 11 MW of solar on our Retirement Living and Logistics assets.

“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.”

- Mark Steinert, Managing Director and CEO, Stockland