Mirvac joins Australian Business Leaders to Leverage a Low Carbon Future

21st October 2021

Mirvac today joined with members of the Australian Climate Leaders Coalition (CLC) to launch a plan for businesses to successfully transition to be part of a net zero, prosperous Australia.

The Roadmap to 2030: Shifting to a Low Carbon Future, developed by 33 of Australia’s largest companies, sets out the key activities that businesses are already undertaking, and are planning to implement before 2030, to lay the foundations for a prosperous and decarbonised Australia.

Mirvac CEO & Managing Director, Susan Lloyd-Hurwitz, who was one of the founding members of the CLC, said the release of the report ahead of the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow at the end of this month was timely as  discussions become focused on action and not just conversation.

“It’s imperative that we transition to a low carbon economy, and that we do so quickly, to avoid the worst impacts of climate change, some of which we’re already starting to see. And what drives me personally in this ambition is the legacy we’re leaving for future generations,” said Ms Lloyd Hurwitz. 

“As one of the largest property companies in the country with an integrated business model that brings together design, development, construction and marketing, we are in a unique position to take bold steps that pave the way for others and forge partnerships which collaborate across the economy.”

In helping to develop the CLC roadmap, Mirvac led a workstream on renewable energy which focused on Mirvac’s Energy Supply Agreement with Red Energy, to supply the majority of its operational portfolio in NSW, ACT and Vic with 100 per cent, fully firmed renewable electricity.

Mirvac recently released its FY21 Sustainability Report, which outlined a number of key achievements in the reporting year:

  • Total scope 1 and 2 emissions down by 63 per cent and total scope 3 emissions down by 35 per cent year on year in FY21 
  • 69 per cent of operational waste and 95 per cent of construction waste diverted from landfill
  • The entire retail portfolio and 90 per cent of the office portfolio transitioned to renewable electricity, reducing the businesses carbon footprint by 80 per cent in just two years. Mirvac is well on its way to net positive carbon, and expects to achieve this before the initial target date of 2030
  • Installed three 100kW solar PV systems across the industrial portfolio, helping to reduce scope 3 emissions 
  • Installed approximately four megawatts on the roof space of our assets since FY15
  • Reduced carbon intensity by 84 per cent since FY13
  • Engaged with Boral to use concrete with lower carbon content at the 80 Ann Street, Brisbane development
  • Released Mirvac’s third report on our climate-related risks and opportunities, in line with the recommendations set out by the Task Force on Climate-related Financial Disclosure (TCFD) 
  • Agreed a plan to be net positive water by 2030, which will be released in FY22 
  • Reduced water intensity by 49 per cent since FY13

For a copy of the roadmap to 2030: Shifting to a Low Carbon Future visit here.