Scentre Group releases 2023 Responsible Business Report

Scentre Group (ASX: SCG) today released its 2023 Responsible Business Report highlighting progress across the four pillars of its Responsible Business framework – community, talent, environment and economic performance.

Scentre Group Chief Executive Officer, Elliott Rusanow said: “Operating as a responsible and sustainable business is part of our strategy and how we create long-term value for our securityholders.

“Over the past 12 months, we’ve made progress on our net zero strategy.

“We completed rooftop solar installations at Westfield Fountain Gate, Westfield Knox, Westfield Hornsby and Westfield Tuggerah, which together more than double the Group’s solar generation capacity from 5.9MW to 12.2MW.

“We also entered into a long-term energy agreement in NSW and Victoria. Together with our existing agreements in Queensland and New Zealand, this will assist us in achieving our goal of net zero emissions by 2030 (Scope 1 and 2 emissions).”

2023 Responsible Business highlights for the period ending 31 December 2023:

Community

• Customer advocacy (NPS) was 46pts, +6pts on FY22

• We invested $27 million in Westfield communities over the past five years

• Launched new strategic partnerships with Disney, Live Nation and Netball Australia

Talent

• 91% of our employees would recommend Scentre Group as a place to work

• 57% of our total workforce are women

• Launched new employee benefits

Environment

• Reduced Scope 1 and 2 emissions by 41% since 2014

• Entered into a long-term energy agreement in NSW and Victoria which will assist us in achieving net zero by 2030

• Launched strategic waste management plan

Economic Performance

• $1,094.2 million Funds From Operations (FFO), up 5.2% on FY22

• Distributions were $860.6 million, 16.60 cents distribution per security, up 5.4% on FY22 and above guidance

• 99.2% occupancy, up 30bps on FY22

Scentre Group’s 2023 Climate Statement and 2023 Modern Slavery Statement were also released today.

The full suite of responsible business documents, including the 2023 Responsible Business Report and Data Pack, Climate Statement and Modern Slavery Statement, are available online.

Authorised by the Chief Executive Officer.