Our Sustainability strategy aims to create sustainable destinations that shape better communities.
We benchmark our performance using recognised national frameworks such as the Green Star Performance Rating tool and the National Australian Built Environment Rating System (NABERS) to help us drive continuous improvement across our asset portfolio.
Vicinity’s entire managed portfolio is the largest in Australia to achieve a 3 Star Green Star Performance Portfolio rating. Additionally, we have obtained the highest number of NABERS Energy and Water Ratings for shopping centres in Australia, covering over 82% of our rateable portfolio.
Low carbon smart assets
We recognise the role we play in facilitating a low carbon economy and ensuring the smart operation of our assets to limit unnecessary resource use. Our strategy is focused on significantly reducing the long term carbon footprint of our asset portfolio by implementing innovative technologies that improve energy efficiency, increase our uptake of onsite renewable energy such as solar, and automate superior asset performance.
Vicinity recently announced Australia’s largest shopping centre solar roll out, including a $73 million investment, that will reduce our exposure to volatile energy markets and deliver strong investment returns while helping us achieve Page 5 of 1 significant reductions in our carbon emissions.
As a leading property company in Australia, building and operating our portfolio of centres in a way that generates positive environmental outcomes is engrained in the way we do business and is paramount to creating market leading destinations.
Our response to climate change is led through the ‘Low Carbon Smart Assets’ and ‘Climate Resilience’ pillars of Vicinity’s Sustainability strategy, which focuses our efforts on significantly reducing our carbon emissions through energy efficiency and onsite renewable energy installations such as solar, as well as building our portfolio’s adaptive capacity and resilience to climate-related impacts.
We integrate innovative and industry best practice sustainability solutions to our development projects, shopping centre operations and our investment planning to ensure positive environmental outcomes are business as usual and position our centres locally as strong resilient community hubs.