Vicinity has set a public target to achieve Net Zero carbon emissions by 2030 for our wholly owned retail 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 automating 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.
In FY19 Vicinity announced a long-term target of Net Zero carbon emissions by 2030 for our wholly owned retail assets, to be delivered via a scaled up energy efficiency and on site solar roll out program, and aligning our carbon reduction efforts with the Paris Agreement.
Vicinity has committed $73m to Australia’s largest shopping centre solar roll out, reducing our exposure to volatile energy markets and delivering strong investment returns while helping us to achieve significant reductions in carbon emissions across our portfolio.
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