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    GPT   AU000000GPT8

GPT GROUP

(GPT)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 06/24
4.93 AUD   +1.44%
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GPT : managed assets to become carbon neutral by 2024

08/13/2020 | 03:13am EDT

The GPT Group ('GPT' or 'Group') today announced a revised target to achieve net zero carbon emissions across its portfolio of managed buildings by the end of 2024. The new target represents a significant advance on the previous target of 2030 and reaffirms the Group's leadership position in sustainability.

The 2024 target is a result of the Group implementing its Energy Master Plan, which provides a roadmap to support the achievement of carbon neutral targets.

'The property sector is accountable for a significant proportion of global greenhouse gas emissions, and as an early mover in acting on GHG emissions, GPT considers actions to reduce our energy consumption as the most important contribution that we can make to climate change mitigation,'said Mark Fookes, Chief Operating Officer.

'GPT is committed to taking a leadership role in reducing carbon emissions and the ground breaking work done by our team in developing our Energy Masterplan gives us confidence to deliver on our 2024 Carbon Neutral target'

GPT is focusing on several areas to achieve this, including driving energy efficiency and delivering new on-site solar photovoltaic electricity projects, procuring cost-effective, low price volatility energy supply contracts, electrifying assets to minimise dependency on fossil fuels, implementing a demand response program that utilises asset electricity generation infrastructure and manages electricity loads throughout the day, and reviewing storage options to meet peak demand challenges.

'Cutting the energy use of our buildings and moving to a zero carbon target also makes good business sense; GPT has delivered intensity improvements on our 2005 baseline, including reducing emissions by 60 per cent, energy by 45 per cent and water by 46 per cent, leading to 1.5 million tonnes of CO2-e cumulatively avoided and saving $210 million in energy costs.'

In the event emissions are unable to be reduced further, The Group purchases offsets through Greenfleet, an organisation that plants native forests to offset carbon emissions for businesses, contributing to biodiversity and improved water flows at the same time.

The Energy Master Plan has led to the firstthree buildings in GPT's Wholesale Office Fund already being certified as carbon neutral, with the fundon track to achieve its target of carbon neutrality by the end of 2020. The same approach will be rolled out across the remainder of the GPT portfolio.

Disclaimer

The GPT Group published this content on 13 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2020 07:12:11 UTC


ę Publicnow 2020
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Financials
Sales 2021 783 M 595 M 595 M
Net income 2021 579 M 439 M 439 M
Net Debt 2021 4 207 M 3 193 M 3 193 M
P/E ratio 2021 16,4x
Yield 2021 5,11%
Capitalization 9 447 M 7 159 M 7 172 M
EV / Sales 2021 17,4x
EV / Sales 2022 16,6x
Nbr of Employees -
Free-Float 98,8%
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Technical analysis trends GPT GROUP
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 4,93 AUD
Average target price 4,87 AUD
Spread / Average Target -1,30%
EPS Revisions
Managers and Directors
NameTitle
Robert William Johnston Chief Executive Officer, MD & Director
Anastasia Clarke Chief Financial Officer
Vickki A. McFadden Chairman
Mark Fookes Chief Operating Officer
Michelle Somerville Non-Executive Director
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