When compared to a 2005 baseline we have:
- reduced water intensity by 44%
- reduced energy intensity by 39%
- reduced carbon emission intensity by 57%
- improved recycling from 29% to 40%.
In addition to substantially reducing environmental impact, in 2018 GPT avoided $29.8 million in operational costs when compared to a 2005 baseline. To explain, had the properties been using electricity, gas and water at 2005 intensity then overall costs in 2018 would have been $29.8 million higher. This saving demonstrates that water, electricity and gas efficiency improvements are good commercially as well as environmentally. These savings benefit our investors and customers.
GPT knows that looking after the environment to meet the needs of current and future generations is essential to ongoing business success. We recognise the need to continually reduce environmental impacts and progress to a point where resources are sustainably used and emissions are at or below levels that can be reabsorbed without harm.
The following environmental areas are the most material to GPT. Summaries of GPT’s policy positions are provided together with a link to our policy area for in-depth understanding:
Policy Area and Summary
Identify and respond to climate change risks and opportunities in managing the property portfolio and work towards carbon neutrality in operations, developments and corporate activities.
Employ leading practice approaches to sustainable use and management of water resources within the business operations, developments and corporate activities.
Adopt a "closed loop" and lifecycle optimisation approach to managing waste and resource use within the business operations, developments and corporate activities.
Make a positive contribution to biodiversity, in the local environment wherever possible.
Beyond acting on things within GPT’s direct control, we’re supporting and encouraging GPT’s stakeholders to respond to climate change, reduce waste, manage water sustainably, and protect and enhance biodiversity in areas within our influence.
Detailed environmental performance is provided in the following sections and the National Australian Built Environment Reporting System (NABERS) and Green Star ratings for water and energy are available for the majority of our assets.
Environmental sustainability is integrated into the management of our portfolio operations and development projects. Working with site teams and other key stakeholders, performance is reviewed and targets set to improve GPT’s environmental sustainability performance each year.
Reporting systems track performance of all sites at detailed levels on a frequent basis, enabling management reporting throughout GPT and for internal and external reporting.
The GPT Environment Data Pack provides
- detailed tables and charts of performance across the material aspects for GPT as a group and its managed funds;
- charts summarising the progress of the group and its individual property types (office, retail and logistics) over time;
- detailed performance data for all properties that have been in GPT’s portfolio for the entire calendar year;
- historical intensity metrics to show trends in property performance improvement over time;
- NABERS ratings to provide a more equitable benchmark comparison between properties with normalisation by hours of operation, occupancy and other factors; and
- Green Star ratings of the attributes that lend to better performance in our properties.
Each aspect is reported on a whole of environmental impact approach - meaning that even where GPT (or one of our managed funds) is a part owner, the environmental impact is reported for the whole of the property.
Task Force on Climate Related Financial Disclosures
In February 2020, GPT released its inaugural Climate Disclosure report, aligned to the recommendations of the Taskforce on Climate Related Financial Disclosures. A copy of the report can be downloaded using the link below.