Stockland chases cleaner, greener property portfolio in bid for net zero emissions by 2028
Accelerating clean energy across Stockland assets
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.
Improving the energy efficiency of our assets improves environmental outcomes, provides economic advantages for our business, and supports thriving, resilient communities. Australia has promising renewable energy potential and we are working towards a cost efficient and low carbon future in line with the WorldGBC Net Zero Carbon Buildings commitment.Mark SteinertCEO, Stockland
The CEFC has committed up to $75 million through a senior debt facility to finance energy efficiency sustainability initiatives at Stockland’s logistics centres, retirement living operations and corporate head offices.
Stockland is drawing on CEFC finance to accelerate the installation of solar across its logistics business and develop a market-leading scheme to trade solar energy among Stockland assets, so that excess energy generated at its industrial and logistics premises can support other Stockland Group businesses. In addition, the finance will support the adoption of solar and battery installation in residential properties and accelerate renewable energy and energy efficiency programs within retirement living centres.
The CEFC finance underpins the Stockland Net Zero Carbon Commitment, which has been brought forward by two years to 2028. The Net Zero Carbon Commitment extends across all Stockland’s business activities – covering some 170 active assets and projects across Australia – and includes the installation of almost 40MW of rooftop solar across the portfolio. The work to develop higher standards in clean energy technologies creates practical examples and guidance that can be used more broadly across the property sector.
As part of the CEFC investment, Stockland has worked with the Green Building Council of Australia (GBCA) and Climate Active to deliver six carbon neutral homes as part of a pilot program at its Melbourne Highlands masterplanned community. The homes, using a combination of rooftop solar and battery storage systems alongside carbon offsets, achieved carbon neutral certification under the Australian Government Climate Active Carbon Neutral Standard for Buildings. The GBCA measured utility and energy use over a 12 month period, with Stockland then purchasing carbon credits supporting bush regeneration projects to offset the greenhouse gas emissions arising from fossil fuel use.