This article is from the Australian Property Journal archive
ISPT has achieved carbon neutral certification, while also gaining 100% Australian Carbon Credit Offset Units as an industry first.
The certification is for the base building operations of ISPT’s owner and operating properties and corporate offices and is awarded by Climate Active, an initiative backed by the Federal Government.
“ISPT doesn’t just invest in property – we seek to build better and more sustainable futures for our investors, customers and communities. Achieving carbon neutral status is testament to this commitment and 15 years of hard work and perseverance by ISPT’s team and board,” said Rosemary Hartnett, chair of ISPT.
This has been achieved through managing climate risks in its portfolio and operations through energy efficiency, onsite renewables, offside renewables and by offsetting the remaining emissions with Australian Carbon Credit Offset Units (ACCUs) with a focus on programs relating to Indigenous communities.
ISPT has offset baseline emissions of 73,615 tonnes of CO2-e over the year, while investing in 12 community-based projects that reportedly “have a dual benefit of protecting and regenerating native land to restore habitats for plants and animals, while also driving positive economic outcomes for Indigenous owned-businesses and communities.”
In a partnership with Landcare Australia, ISPT has created a carbon conservation land bank for the next 25-years.
“We are extremely pleased to work on this outstanding initiative and support ISPT to become the first property owner and developer in Australia to achieve carbon neutrality. Our national footprint and over 30 years of experience in restoring and preserving the natural environment while supporting communities, makes this a strong collaboration,” said Dr Shane Norrish, chief executive officer at Landcare Australia.
ISPT intends on becoming a net positive producer of carbon offsets by 2025, with further power purchase agreements, continued carbon sequestration with the land bank and commencing Stage 3 of their National Solar PV Project.