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Scentre Group to halve emissions in 2025 ahead of 2030’s net-zero target

Property firm Scentre Group has committed to cut at least half of its Scope 1 and 2 emissions by 2025, with the remaining half to be cut before its final 2030 target.

Additionally, the business’ New Zealand portfolio will be powered by 100 per cent renewable energy from January 2022.

“Operating our business as effectively and minimising our environmental impact is important to all of our stakeholders and is integrated into the way we run our business,” said Scentre Group chief executive Peter Allen.

“Since the establishment of Scentre Group more than seven years ago, we have reduced our electricity use every year. Despite the operational disruption of 2020, we reduced our energy use by 10 per cent [and] during 2020 we generated more than 8,000 MWh of electricity from solar installations across five of our Westfield living centres – Westfield Marion, Westfield Plenty Valley, Westfield Carousel, Westfield Kotara and Westfield Coomera.”

The company has plans to roll out further solar installations across its network, as well as assess potential off-site renewable energy procurement opportunities.

The property business delivered a relatively strong half-year last month, with profit after tax hitting $400 million compared to a $3.6 billion loss during the same period a year prior.

However, revenue dipped slightly to $1.08 billion, down 1.2 per cent, with total gross rent collected hitting $1.2 billion – an increase of 37 per cent on last year.

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