Frasers Property Australia have been certified as a carbon neutral organisation under the Australian Government’s National Carbon Offset Standard -- joining GPT, Dexus Property Group and CBRE as certified organisations in the property industry.
The standard is the Australian benchmark for organisations voluntarily seeking to be carbon neutral, and uses rigorous framework based on international standards to consider certifications.
Frasers Property Australia general manager for sustainability Paolo Bevilacqua said the company started looking at carbon offsets to enable their new embedded energy business, Real Utilities, to sell carbon neutral energy.
“Achieving carbon neutral status for the rest of our operations in Australia was a logical next step," he said.
The company’s sustainability focus was reinforced by its Singapore-based parent, Frasers Centrepoint, which is a signatory to the United Nations Global Compact and is committed to reducing its energy and water usage by 15 per cent between 2015 and 2025.
Frasers Property sustainability initiatives, which informed the carbon neutral certification, include 6 Star Green Star Interiors certification for its offices, the purchase of 100 per cent Green Power where possible, and the upgrading of video conferencing systems to reduce interstate flights.
“The annual cost of our carbon offsets is quite low, as we’ve already invested in highly carbon-efficient workplaces and careful waste and energy management on our construction sites,” Bevilacqua said.
“We were able to choose the initiatives that benefit from our offsets, so we aligned these to our global business footprint.”
Frasers Property Australia chief executive Rod Fehring said while certification was a great achievement, it’s also a benchmark from which the organisation will continue to improve its carbon performance.
“We are moving toward a carbon constrained economy. To respond to this challenge, Frasers Property has effectively set an internal price for carbon that will enable our people to better identify opportunities for carbon reduction moving forward.
“Our objective is to move away from a reliance on offsets to maintain certification and continually hone our business practices so we can be offset neutral too,” he said.
The accreditation saw Frasers join a select group of organisations which have all, or part, of their business NCOS certified -- including ANZ, NAB and Westpac, the Cities of Sydney and Melbourne, PwC and real estate group CBRE.