Vicinity Centres is reaching the top of the leadership ladder in green retail assets, diversity and modern slavery.
The retail asset manager recently achieving a 4 star Green Star Performance rating across its managed portfolio. And its sustainability strategy released last week, revealed standout achievements for the year included a commitment to net zero carbon emissions target by 2030 for all its wholly-owned retail assets.
It’s also completed 12 of the 20 solar projects it has underway, which amounts to total investment in solar of $73 million.
Since 2016, the company has managed to cut the intensity of its Scope 1 and 2 emissions by 11 per cent. The company also disclosed in accordance with the financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD)
It achieved an average rating of 3.5 NABERS Energy across 86 per cent of the company’s area that’s rateable by the energy performance tool.
Its NABERS Water rating of was 3.1 stars on 80 per cent of the company’s rateable area for water.
Around 45 per cent of the waste generated by the shopping centres has been diverted from landfill (measured on a comparable portfolio basis).
Other highlights include the launch of the Innovate Reconciliation Action Plan (RAP). This RAP replaces the former Reflect RAP and is designed to “progress our reconciliation journey and deliver positive social and economic outcomes for Indigenous Australians.”
The company also won an Australian Business Award for Sustainability for its climate resilience approach, which includes identifying the highest risk centres and supporting the resilience of its retailers and the local communities.
On diversity, the leadership is made up of 37 per cent women. The company claims to be on the front foot in responding to the Modern Slavery legislation.