This article is from the Australian Property Journal archive
MIRVAC has become the first real estate company in Australia to achieve net-zero carbon status, speeding ahead to achieve its own goal nine years before schedule.
It originally made the commitment in 2014.
“This is an incredible achievement, which we have met by focusing on energy efficiency at our assets, supplying these assets with renewable electricity, transitioning away from fossil fuels, and purchasing high-quality carbon offsets, here in Australia,” CEO and managing director Susan Lloyd-Hurwitz said at the diversified developer’s annual general meeting.
“We firmly believe that our focus on environmental, social and governance issues is not separate from our financial performance, but that rather, it enhances it. Taking urgent and proactive action on climate change, protecting our natural resources, and caring about our communities and our people adds significant value to the group.
“And we see evidence of this in a number ways, such as lower operational costs at our buildings, reduced risk, higher employee engagement and productivity, and a greater ability to attract quality partners, tenants and customers.”
RICS research has found more than half of property players believe that green and sustainable buildings achieve a rent and a price premium over comparable non-green and sustainable buildings. More than one-third believe that the rent and price premium stands at up to 10%; around 15% judge it to be higher still.
Hundreds of property companies in the built environment sector have made their commitment to the United Nations’ Race to Zero campaign to achieve net-zero carbon by 2050.
A new Urban Land Institute and Taronga Ventures survey on the Asia Pacific real estate industry unsurprisingly revealed ESG as a major factor for companies looking at technological innovation. It found that 88% of APAC real estate companies are planning to work with technology companies in the next two years.
