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Vicinity Centres

Chadstone, Victoria

Retail Trade

At Vicinity, we’re in the business of real people. People who shop in our centres, people who take retail space in our centres, people who invest in our centres and, of course, the people who work in and for our centres. We are one of Australia’s leading retail property groups with a fully integrated asset management platform and $22 billion* in retail assets under management across 61* shopping centres, making it the second largest listed manager of Australian retail property. Listed on the Australian Securities Exchange (VCX:ASX), the Group has a Direct Portfolio with interests in 59* shopping centres (including the DFO Brisbane business) and manages 30 assets on behalf of Strategic Partners, 28 of which are co-owned by the Group. From your favourite local to retail centres that can compete on any international stage, our success is built on knowing the communities we serve and bringing them the experiences they want.
Vicinity has set a public target to achieve Net Zero carbon emissions by 2030 for our wholly owned retail assets. This long-term target aligns to Australia’s commitments under The Paris Agreement (United Nations Framework Convention on Climate Change) and will be achieved through a combination of Vicinity’s solar investment and accelerated energy efficiency programs.
The Net Zero target covers the scope 1 and scope 2 carbon emissions from the common mall area of Vicinity’s 32 wholly owned centres – that is, the direct emissions within our operational control at these assets. The target will be achieved via a scaled up energy efficiency program and moving away from carbon intensive energy sources through electrification of equipment and plant currently running on fuel sources such as gas, as well as installing large-scale onsite solar across our portfolio. We are on track to achieve our Net Zero carbon emissions by 2030 target, having reduced our energy intensity by 25%. since June 2016, and continue to progress our on-site solar program across our wholly-owned retail assets as well as across our managed portfolio. In FY21 we reached a total of 30.6MW capacity at managed assets, including 24.6 MWh on our 100% owned assets. Vicinity’s Net Zero target offers the opportunity for us to work with our co-owners in the future to expand the target to more of our managed centres where shared sustainability ambitions are evident, and work with our retailers to help reduce their carbon footprint.
Further details about this organisation’s global climate actions are available here.
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For Businesses

About committing

Innovative leaders and their businesses are uniquely positioned to accelerate the Race to Zero and can have a measurable impact on communities striving for a climate-resilient future.

Together with a climate-positive impact on communities, businesses can future-proof their growth, manage risk, build resilience against regulation, drive industry innovation, and strengthen brand reputation.

And like all meaningful progress, it starts with a commitment.

Businesses are invited to sign and commit via one of the Race to Zero’s partner initiatives.

  • Business Ambition for 1.5 Degrees – choose this initiative if your organisation wants to set a net-zero target in line with a 1.5°C future.
  • SME Climate Hub – choose this initiative if your organisation has 500 or less employees
  • The Climate Pledge – choose this initiative if your organisation wants to reach net zero carbon by 2040, reaching the goals of the Paris Agreement 10 years early.

Once committed, businesses have 12 months to plan strategies and actions that will achieve their interim and long-term targets of net-zero emissions by 2050. With shared resources and communications material at their disposal, businesses will spring into action and make public an annual progress report to showcase their ongoing efforts and commitment to a sustainable climate-resilient future.

If your business is ready to commit to the Race to Zero in Australia at the head-of-organisation level, you’re in the right place!

Welcome to The Starting Line.

Partner

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For Financial Institutions

About committing

The most sustainable investment financial institutions can make is an investment in a zero-carbon economy for themselves and their stakeholders. Together with Race to Zero in Australia, financial institutions can build sustainable net-zero investment portfolios and secure returns on investments, but most importantly, on a climate-positive future.

Financial institutions are invited to sign up and commit via one of the Race to Zero’s partners and in doing so, they will also join the Glasgow Finance Alliance for Net Zero.

Once committed, financial institutions have 12 months to plan strategies and actions that will achieve their interim and long-term targets of net-zero emissions by 2050. With shared resources and communications material at their disposal, financial institutions will spring into action and make public an annual progress report to showcase their ongoing efforts and commitment to a sustainable climate-resilient future.

If you’re a financial institution is ready to commit to the Race to Zero in Australia at the head-of-organisation level, you’re in the right place!

Welcome to The Starting Line.

Our net zero cities partners

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For Local Councils

About committing

Local Councils can accelerate the Race to Zero and have an immediate, real-world impact on the shift towards zero-carbon economies. From urban planning and waste management to policymaking and collaboration with community partners, local councils have the power to act on carbon-reduction strategies and create thriving and sustainable environments for their communities.

Cities and local councils are invited to sign up to Race to Zero via the Cities Race to Zero initiative, whilst states and regions are welcomed to join via the Under2 Coalition. Once committed, local councils have 12 months to plan strategies and actions that will achieve their interim and long-term targets of net-zero emissions by 2050. With shared resources and communications material at their disposal, local councils will spring into action and make public an annual progress report to showcase their ongoing efforts and commitment to a sustainable climate-resilient future.

If you’re a local council ready to commit to the Race to Zero in Australia at the head-of-organisation level, you’re in the right place!

Welcome to The Starting Line.

Our net zero cities partners

Register your interest

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For Universities & Colleges

About committing

As the seat of climate change research, universities and colleges not only provide the road map for the future ahead, they can be leaders in the race towards net-zero emissions. Their research is the bedrock of the Race To Zero’s momentum and we are asking educational institutions to commit to the Race. To be a force for change as well as a source of knowledge.

Universities and colleges are invited to join Race to Zero via the Race to Zero for Universities and Colleges. Once committed, education institutions have 12 months to plan strategies and actions that will achieve their interim and long-term targets of net-zero emissions by 2050. With shared resources and communications material at their disposal, local councils will spring into action and make public an annual progress report to showcase their ongoing efforts and commitment to a sustainable climate-resilient future.

If you’re a university or college ready to commit to the Race to Zero in Australia at the head-of-organisation level, you’re in the right place!

Welcome to The Starting Line.

Our net zero cities partners

Register your interest

Vicinity Centres