Australian property group Stockland is undertaking a portfolio-wide energy efficiency retrofit program, as well as the development of a market-leading Green Star design standard for new-build retirement living.
Energy efficient initiatives implemented under the program will help make Stockland’s logistics centres, retirement living operations and corporate head offices more sustainable.
The work will include the design and construction of a new retirement living centre that will target a 35 per cent improvement in emissions reduction levels compared with current building code requirements.
Stockland is aiming to achieve net zero emissions by 2030 across its logistics centres, retirement living operations and corporate head offices. It has already reduced its the carbon intensity of its commercial property assets by 57 per cent, alongside 33 million in investment in solar PV.
In its next wave of carbon reduction initiative, Stockland will draw on CEFC finance to:
The CEFC has committed up to $75 million through a senior debt facility to finance the initiatives.
According to the Australian Sustainable Built Environment Council, the property sector is responsible for about 23 per cent (footnote: Australian Sustainable Built Environment Council report, Low Carbon, High Performance May 16 p28) of Australia’s greenhouse gas emissions.
National, Housing, Property, Sustainable Cities, Renewable energy