An efficient and resilient portfolio that minimises our environmental footprint and mitigates climate risk
Our capacity to create value depends on efficient use of natural resources and resilience to climate change.
Buildings account for nearly one-quarter of Australia’s greenhouse gas emissions, which provides an opportunity for energy efficiency initiatives to lower our carbon footprint and reduce operating costs. We also actively manage water and waste through building optimisation, and customer engagement and awareness programs.
We recognise the risks and opportunities that climate change presents for our business. We are focused on understanding, preparing for, and responding to increased frequency and severity of extreme weather, which can cause damage to our buildings and disrupt the communities where we operate. Focusing on climate resilience can enhance the value of our portfolio, both for our investors and for our customers who rely our spaces every day for their business success.
We have committed to achieve net zero emissions by 2030, an ambition that has been verified as in line with the effort required to limit global temperature increases to below 1.5°C. Our focus on emissions reductions help futureproof our operations from risks associated with future carbon pricing, and demonstrate that emissions reductions need not come at the expense of business success.
Adding value for our Enriched Environment - FY19 Performance
Reduction in like-for-like emissions since FY15
Reduction in like-for-like energy consumption since FY15
Square metres of office space rated 5 star NABERS Energy or above
Future focus for our Enriched Environment
Priorities guiding our focus on environmental performance in FY20 and beyond include:
Establish new 2025 energy and emissions reduction targets as part of our pathway to net zero emissions by 2030
- Deliver 1,000,000 square metres to a minimum 5-star NABERS Energy rating and 4-star NABERS Water rating across the group’s office portfolio by 2020
- Consistently demonstrate a resource recovery rate of 80% across de-fit projects by 2020, contributing to the diversion of waste from landfill
We continue to expand our understanding of the risks and opportunities presented by climate change, and have disclosed our approach to climate-related issues in accordance with the Task Force on Climate-related Financial Disclosures (see our Annual Reporting Suite). As part of our ongoing work on climate-related issues, we are bringing together teams across Dexus to combine data for new insights on the financial impacts of climate change on asset valuation, operating costs, revenue and capital purchases that will be used to inform portfolio strategy and asset resilience planning.
Our path to net zero emissions
As Australia continues its search for secure affordable, environmentally conscious energy, Dexus is taking action to transition to a low carbon future. Rapidly evolving energy markets, game-changing technologies and innovative work environments provide a unique opportunity to operate in a way that benefits our customers, cities and communities. In doing so, we create sustained value throughout our supply chain, delivering on the expectations of our customers, investors and communities to limit the climate change impacts of our properties in line with the United Nations Paris Climate Agreement.
Reducing water use at Australia Square
A collaborative focus on water efficiency across property stakeholders at Australia Square in Sydney has resulted in an improvement in the property’s NABERS Water rating, despite a recent upgrade to the end-of-trip facilities. As manager of the property, Dexus set out to improve water efficiency through engaging the facility manager, service contractors and customers in the tower to focus on water wastage.
Our sustainability approach
Our sustainability performance
Sustainability reporting library