Property Leaders Commit to Net Zero Future

A trio of top property companies have committed to zero net carbon emissions as momentum builds across the industry for meaningful action on climate change.

Dexus, Cbus Property and Nightingale Apartments are the latest property companies to commit to the Global Net Zero Carbon Buildings Commitment, a global initiative challenging organisations to achieve net-zero operating carbon emissions across their portfolios by 2030.

Buildings have an enormous impact on the environment, with figures from the US showing they consume 41 per cent of total energy consumption.

A net zero carbon building, as defined by the WorldGBC, is highly energy efficient and fully powered on-site or by off-site renewable energy sources.

Reducing emissions across the property sector is driving demand for more renewable energy sources, explains the Green Building Council of Australia’s chief executive Romilly Madew.

Dexus, Cbus Property and Nightingale Housing join other industry heavyweights including AMP Capital Wholesale Office Portfolio, Cundall, Frasers Property Australia, GPT Wholesale Office Fund, Integral Group, Stockland, the Sydney Opera House and the City of Sydney.

Leading companies and organisations know that creating a more sustainable property or community will ultimately create a better outcome for both them as businesses but more importantly the communities they build for.

GBCA chief executive Romilly Madew

Dexus chief executive Darren Steinberg said the commitment built on Dexus’s 2030 zero emissions goal.

“Our net-zero target is supported by increasing renewable energy sources and improving energy efficiency, all while achieving lower carbon emissions,” he said.

Cbus Property chief executive Adrian Pozzo said Cbus Property’s ambition is to be net zero carbon by 2030, with sustainability “built into their design and development processes”.

“These ambitious targets will drive industry change and ensure we provide the best sustainable developments into the future.”

In addition to their pledge to reduce their own operating emissions by 2030, all signatories to the global initiative agree to advocate for all buildings to be Net Zero by 2050.

“Under these commitments, there will be 320 Australian buildings, including major CBD towers, that will be net zero by 2030,” GBCA Head of Market Transformation Jorge Chapa said.

“That energy load is equivalent to eight per cent of a coal-fired power station in a year, or the annual power use of more than 35,000 homes.”

The commitments were announced at the United Nations Framework Convention on Climate Change’s global Conferences held in Poland.

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