Stockland has once again been recognised as a global leader in disclosure and action on climate change, achieving a place on CDP’s Climate A-List for the fourth year in a row, while Dexus and Vicinity Centres join the list this year, solidifying their positions as Australia’s leading sustainable investments of choice for real estate. 

 Assessing more than 8,000 companies worldwide, the CDP is a global non-profit environmental disclosure platform for investors, companies and cities focussed on taking meaningful action on climate change by measuring and understanding their environmental impact. 

Paul Simpson, CEO of CDP, said: “The A List companies are leading the market in corporate sustainability, tackling environmental risks and setting themselves up to thrive in tomorrow’s economy.” 

Ranked in the top 2% worldwide, Stockland is the only Australian company to have achieved CDP Climate A-List status every year since 2016.

Mark Steinert, Managing Director and CEO Stockland, said: “I’m proud to lead the only Australian company to achieve the highest CDP rating for climate change for four consecutive years. Our continued focus on long term climate initiatives, such as our net zero emissions targets across our logistics centres, retirement living operations, and corporate head offices, will help us grow sustainably and create better outcomes for both our customers and investors. 

“For well over a decade, we have been identifying and managing risks and opportunities related to both the physical impacts of climate change and a global transition to lower-carbon energy sources. Since 2006 we have reduced our carbon reduction intensity by 57% and saved over $106 million through energy efficiency initiatives, including investing over $33 million in solar generation as a key pathway to reducing our carbon emissions.” 

Rooftop solar system at Stockland Green Hills

Stockland works to increase the resilience of its assets and communities through an established climate and community resilience assessment program, has a comprehensive approach to managing risks and opportunities associated with the transition to a low carbon economy, and an established approach to considering the physical risks of extreme weather across its portfolio.  

In 2019 Stockland published its first integrated annual report, which details the company’s sustainability credentials and approach to delivering shared value for investors, customers and communities. 

 Steinert continued: “The progress we’ve made to increasing asset and community resilience has positive outcomes for both Stockland and the communities in which we operate, and we’re well on our way to achieving our emissions reduction targets.” 

This year, Vicinity Centres (Vicinity) also earned a place on CDP’s prestigious Climate Change ‘A list’.

Grant Kelley, Vicinity CEO and Managing Director (left)

Grant Kelley, Vicinity CEO and Managing Director, said Vicinity’s significant efforts to mitigate climate risk across its portfolio and prepare for the transition to a low-carbon economy were key factors in its inclusion in this year’s A list, making Vicinity one of a small number of companies globally to achieve the top ranking. 

“We are thrilled and humbled to be recognised as a global leader for our response to climate change. 

“This is testament to our proactive, long-term approach to sustainability which places climate change at the centre of our focus. As part of our Net Zero carbon emissions target by 20302, and by further integrating climate resilience into our business practices, we will continue to enhance our approach,” Kelley said. 

The Net Zero target will be achieved through Vicinity’s industry-leading solar program and implementing innovative technologies that improve energy efficiency across its portfolio. Vicinity has also developed a Climate Resilience Program which focuses on increasing the resilience of its centres to extreme weather events and was recognised with an Australian Business Award for Sustainability in 2019. 

Dexus was one of six companies in Australia to be included on the CDP Climate A List for 2019, amongst the 8,361 companies that participated in the CDP Climate Change disclosure in 2019. 

Dexus’s position on the CDP Climate A List was driven by its commitment to net zero emissions, an ongoing focus on portfolio resilience, and comprehensive sustainability disclosure. 

David Yates, Executive General Manager, Sustainability said: “We are proud of our achievements in sustainability including this latest recognition by CDP for being a leader in addressing environmental risks and reducing our impact. 

“The urgency to address climate change has never been greater. Our goal to achieve net zero emissions by 2030 has been certified by the Science Based Targets initiative and is aligned with the emissions reductions necessary to limit global warming to below 1.5°C. 

“Progressing this goal, our innovative renewable energy supply agreement with Red Energy has commenced, supplying 40 properties across NSW with renewable energy, to power their base building services, sourced from new and existing wind and solar projects.” 

The MLC Centre, Sydney

Dexus recently committed to the RE100 initiative, joining other like-minded businesses in driving its business toward 100 percent renewable energy. 

The group also undertakes comprehensive climate-related reporting that is aligned with the recommendations of the Task Force on Climate Related Disclosures. 

Yates added: “Our long-term emissions target is complemented by a portfolio-wide climate resilience program which ensures our properties are resilient to potential future environmental shocks and stresses.” 

Dexus has been recognised by other leading global benchmarks for its commitment to sustainability including the Dow Jones Sustainability Index, as the 2019 Global Industry Leader, and Global Real Estate Sustainability Benchmark as a 2019 Global Sector Leader.