News & Media | 07 November 2017

Frasers Property gains carbon neutral certification

Carbon Neutral warehouse

Diversified property group joins select group to achieve NCOS.

Sydney – 7 November 2017 – Frasers Property Australia has been certified as a carbon neutral organisation under the Australian Government’s National Carbon Offset Standard (NCOS).

Frasers Property Australia joins a select group of organisations which have all, or part, of their business NCOS certified. They include the banks, ANZ, NAB and Westpac, the Cities of Sydney and Melbourne, real estate group CBRE and only two other property groups.

Carbon neutral certification under NCOS is achieved by first reducing emissions from the business, then compensating for the remaining emissions through the use of carbon offsets, and finally publicly reporting on their carbon neutrality.

Paolo Bevilacqua, General Manager – Sustainability, Frasers Property Australia says NCOS is the Australian benchmark for organisations voluntarily seeking to be carbon neutral, and is based on a “rigorous and transparent framework” using international standards.

“We started looking at carbon offsets to enable our new embedded energy business, Real Utilities, to sell carbon neutral energy,” Mr Bevilacqua says.

“Achieving carbon neutral status for the rest of our operations in Australia was a logical next step.”

Frasers Property has long focused on sustainability and has introduced a range of measures to reduce emissions from corporate offices, construction sites and business activities.

The company’s sustainability focus has been 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,” says Mr Bevilacqua.

“We were able to choose the initiatives that benefit from our offsets, so we aligned these to our global business footprint.”

Rod Fehring, Chief Executive Officer, Frasers Property Australia says while certification is 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,” says Mr Fehring.

“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 says.

Frasers Property chose four investments to benefit from its carbon offsets last year.

  • Australian Biodiversity;
  • China Hydro, improving community infrastructure, providing education and stable electricity supply;
  • Thailand Biomass, improving respiratory health and creating local supply chains; and
  • Indonesia Hydro, turning organic matter into fertiliser, reforestation and new roads and bridges.

For more details about Frasers Property’s sustainability strategy, A Different Way, visit www.frasersproperty.com.au/Sustainability.

Questions about Frasers Centrepoint’s approach to sustainability can be addressed to sustainability@fraserscentrepoint.com.