Scentre Group supports the Taskforce on Climate Related Financial Disclosures

As a long-term owner and manager of real estate, we acknowledge the impacts and financial risks associated with climate change and are actively exploring and implementing initiatives to improve the resilience and efficiency of our Westfield Living Centres.

We regularly assess the financial, regulatory and physical risks associated with climate change and, earlier this year we set a target of Net Zero Scope 1 and 2 Emissions by 2030 across our wholly-owned Westfield Living Centre portfolio. This target builds on our broader organisational approach to the management and assessment of climate-related risks.

Since 2018, we have been disclosing our performance against the Taskforce on Climate Related Financial Disclosures (TCFD) in annual investor surveys including the Carbon Disclosure Project and have now become a formal public supporter of TCFD.

TCFD is an industry-led taskforce that was developed to make recommendations that help companies understand what information investors, lenders and insurance underwriters want with respect to climate-related financial disclosures. In 2017, TCFD released 11 recommendations for disclosure and we have committed to aligning our climate-related disclosures with these recommendations.

While these disclosures are voluntary, we recognise that TCFD is the most widely adopted best practice standard for disclosure of climate risks and is an important tool for the investment community in assessing climate and financial risk.

You can read more about our broader organisational approach to the management and assessment of climate related risks on pages 36 – 38 in our 2019 Responsible Business Report.