Vicinity Centres and Dexus have topped the Carbon Disclosure Project’s global ranking for measuring corporate efforts to mitigate climate change.
The two Australian real estate companies have made the CDP’s climate change A List alongside 268 other companies from around the world out of over 9600 participants in total.
Vicinity Centres has emerged as a retail property leader in sustainability, with a net zero carbon emissions by 2030 for all its wholly owned assets.
It’s also embarked on a $73 million program rooftop solar program in total, along with a raft of energy efficiency measures.
The company also has program focused on increasing the resilience of its centres to extreme weather.
Dexus has also earmarked 2030 to reach net zero, which is based on a plan that has the stringent Science Based Target Initiative’s tick of approval.
The real estate company is also a signatory to the RE100 initiative that commits it to running off 100 per cent renewable energy, and this year released a Climate Resilience report that outlines the company’s response given three different warming scenarios.
Supermarket giant Woolworths also made the A list. The company has been ramping up its climate action efforts, pledging to reach net zero by 2050 in September. It also has tough reduction milestones t hit on the way, including reducing emissions by 63 per cent by 2030 across its network of warehouses and stores.
The three were the only Australian companies to top the list, although Scentre Group was among 10 Australian companies to score an A-.
The program also ranks company performance on forests and water security, with far fewer companies achieving A-list status in these categories.
For 20 years CDP has been keeping an eye on company environmental performance, making it one of the first organisations to do so. Its environment performance scheme is also fully aligned with the Task Force on Climate-related Financial Disclosures recommendations.
Investors increasingly recognise that climate change and environmental degradation poses a risk to their investments, with over 515 investors with US$106 trillion in assets requesting companies disclose through the CDP program.