Scentre Group to Target Net Zero Emissions by 2030

Scentre Group has today announced it will pursue a net zero emissions target by 2030 across its wholly-owned portfolio of Westfield Living Centres. This builds on the company’s existing environmental targets, energy efficiency initiatives and targeted renewable energy generation and investment opportunities.

The announcement supports Scentre Group’s commitment to delivering long-term sustainable returns through economic cycles and is in line with the company’s Sustainable Business Framework which includes community, people, environmental and economic performance.

Scentre Group CEO Peter Allen said: “We are committed to ensuring we have an efficient and resilient long-term business that balances the needs of our stakeholders. As part of this commitment the Group considers net zero emissions by 2030 as a natural evolution of the environmental pillar of our Sustainable Business Framework. Work will continue in 2020 to align existing and new energy efficiency and renewable initiatives to this target and ensure our pathway informs capital investment decisions.

“Since the establishment of Scentre Group we have reduced our electricity use every year. Our continued reduction in energy use and emissions intensity across the portfolio whilst managing increased customer demand is evidence that our centre management teams are effectively using our energy monitoring tools and digital platforms to make decisions and drive energy efficiency on a daily basis.”

During 2019, Scentre Group generated approximately nine Gigawatt hours (GWh) from solar installations across five of its Westfield Living Centres – Westfield Marion, Westfield Plenty Valley, Westfield Carousel, Westfield Kotara and Westfield Coomera.  The Group continues to invest in solar generation across our assets.

Scentre Group’s average NABERS portfolio rating is 4.13 against a 2025 target of 4.5. With efficient deployment of capital, increased adoption of technology, continued focus on energy efficiency of existing assets via our national energy efficiency framework as well as waste and recycling initiatives, we will continue to reduce our environmental footprint.

Full highlights and performance data will be presented in our standalone Responsible Business report at the end of the first quarter 2020.