This article is from the Australian Property Journal archive
INVESTA has achieved net zero across scope 1 and 2 at its core managed buildings and its managed funds – racing to a target that was initially set down for 2040.
The milestone was achieved ahead of the 2025 target – originally, the company set its net targets in 2018 with a 2040 ambition, before heavily revising the and accelerating the targets to 2025.
The buildings include assets within its Investa Commercial Property Fund (ICPF) and Investa Gateway Offices (IGO).
Margot Black, general Manager, corporate sustainability at Investa, said, “We’re thrilled to achieve this milestone, which is the result of the implementation of our net zero pathway.”
This included enhancing the energy efficiency of buildings, sourcing 100% renewable electricity for base building operations, developing decarbonisation plans for all managed properties, and offsetting residual carbon through the New Leaf project by the Tasman Land Conservancy, a certified nature-based Australian Carbon Credit Unit project.
“Reaching our net zero scope 1 and 2 emissions milestone demonstrates that business can – and must –play a lead role in helping Australia deliver ambitious targets to reduce the country’s emissions,” Black said.
“We recognise we still have work to do in decarbonising our managed buildings and addressing our material scope 3 emissions. We will continue to engage and work with our investors, occupiers and supply chain towards a net zero future.”
The CSIRO and Bureau of Meteorology State of the Climate Report 2024 recently identified Australia’s weather and climate has continued to change, with an increase in extreme heat events, longer fire seasons, more intense heavy rainfall, and rising sea levels.
Investa is now currently seeking Climate Active certification, achieved by first reducing emissions from the business, then compensating the remaining emissions using carbon offsets, and finally publicly reporting on carbon neutrality.
Last year Investa set its sustainability ambitions beyond net zero by partnering with the Sydney Institute of Marine Science to protect marine biodiversity in one of the first nature positive initiatives from an Australian real estate business.
Two years ago, Investa refinanced the Investa Gateway Office’s syndicated debt facility for $1.2 billion, which was certified by the globally recognised Climate Bond Initiative (CBI).
