Our focus and achievements

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. 

We recognise the role we play in ensuring the smart operation of our assets to limit unnecessary resource use and providing community hubs that are resilient to the effects of climate change, an issue identified as material to our business and which is top of mind for our stakeholders.

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.  Doing so successfully requires us to take a long term view, which drives value for our securityholders and stakeholders now and well into the future.

 Click here to download the full infographic

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.

Our efforts in this space make good business sense for a number of reasons.  They deliver operational benefits to Vicinity such as more efficient and lower cost assets, and generate a number of positive impacts for our communities and the environment, as well as flow on benefits to our consumers and retailers.

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 significant reductions in our carbon emissions.

Sustainability ratings

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.

Find out more about Vicinity’s Green Star and NABERS Ratings.