Reducing our carbon footprint further

26th August 2021

In 2014, Mirvac set its industry leading target to be net positive carbon by 2030 and we released our plan on how we expect to achieve this in 2019.

Reducing our carbon footprint further

This plan, Planet Positive: Carbon, hinges on our commitment to eliminate more carbon than we emit, and over the past two years we’ve made tremendous strides towards achieving this, with our overall carbon footprint reducing by 80 per cent as of 1 January this year. A key element in our approach has been our swift transition to renewable electricity at our retail and office assets1 across NSW, VIC, QLD, WA and ACT through a series of energy supply agreements.

These agreements have seen our entire retail and build to rent portfolios supplied with 100 per cent renewable electricity, along with over 90 per cent of our office portfolio, delivering significant savings in carbon emissions. In fact, we expect to eliminate approximately 60,000 tonnes of carbon emissions in 2021 alone, which is equivalent to taking more than 27,000 cars off the road. As an added benefit, our transition to renewable electricity delivers a reduction in our scope 3 emissions, which is an increasing area of focus for our investors. We’ve also been able to on-sell renewable energy to a number of tenants within our embedded networks, resulting in approximately 50,000 tonnes of avoided emissions over a 12-month period.

It’s a great step towards our net positive ambition and demonstrates our ongoing commitment to the RE100 program.

We’re proud to have reduced carbon footprint by 80 per cent by transitioning to renewable electricity, which shows the significant impact we can have as a business when we’re all facing in the same direction.” Sarah Clarke, Group General Manager, Sustainability.
 
1. Our energy supply agreements focus on assets over which we have operational control.

Focus Area

 

Climate Change icon Climate Change