Scentre Group Progresses Net Zero Emissions Pathway and Transition Plan

Scentre Group has provided an update on its pathway to achieve net zero Scope 1 and 2 emissions by 2030 across its wholly-owned portfolio, announcing its plan to achieve at least 50% of this target by 2025.

Scentre Group CEO Peter Allen included the update during half year results and said it highlighted the progress the company was making on its objective to operate as a responsible, sustainable business.

“Operating our business as efficiently as we can and minimising our environmental impact is important to all of our stakeholders and is integrated into the way we run our business,” Mr Allen said.

“In 2020 we committed to a target of net zero (Scope 1 & 2) emissions by 2030 across our wholly-owned portfolio, building on our existing environmental targets, energy efficiency initiatives (such as LED lighting installation across the portfolio and energy analytics and building management system enhancements) and targeted renewable energy generation and procurement opportunities. We also publicly supported the Taskforce for Climate-related Financial Disclosures (TCFD).

“Since the establishment of Scentre Group more than seven years ago, we have reduced our electricity use every year. Despite the operational disruption of 2020, we reduced our energy use by 10%, of which 4% was continued operational efficiency.

“We are encouraged by our ability to achieve our 35 per cent emission intensity target (2009 baseline) five years ahead of our original target.

“During 2020 we generated more than 8,000 MWh of electricity from solar installations across five of our Westfield Living Centres – Westfield Marion, Westfield Plenty Valley, Westfield Carousel, Westfield Kotara and Westfield Coomera.

“We will continue to evaluate and roll-out onsite solar opportunities as well as continue to assess off-site renewable energy procurement opportunities.

“Our New Zealand portfolio will be powered by 100% renewable electricity from January 2022.”