For personal use only
14 February 2022
Climate Disclosure Statement
The GPT Group ('GPT') provides its Climate Disclosure Statement which is authorised for release by The GPT Group Board.
-ENDS-
For more information, please contact:
INVESTORS AND MEDIA Penny Berger
Head of Investor Relations and Corporate Affairs +61 402 079 955
Level 51, 25 Martin Place, Sydney NSW 2000 | www.gpt.com.au |
For personal use only
Climate Disclosure Statement 2021
Prepared with reference to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)
Introduction
onlyThis Climate Disclosure Statement outlines the steps that GPT is taking to identify, assess and manage climate-related risks and opportunities. The Statement has been prepared with reference to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
useThis Climate Disclosure Statement is applicable to the whole of The GPT Group including GPT Funds Management Limited in its capacity as r sponsible entity for the GPT Wholesale Office Fund (GWOF) and the GPT Wholesale Shopping Centre Fund (GWSCF). The metrics and targ ts outlined also apply to the operation of the funds.
Our Climate Disclosure Statement is approved by the Board and prepared in consultation with our cross-functional Sustainability Reference Group, which contributes to the identification of foreseeable climate risks and opportunities and assists in formulating and implementing our ongoing response to climate change.
Contents
1. | A message from our CEO and Managing Director | Memberships and commitments |
2. | 2021 Highlights | |
3. | Our Carbon Neutral Journey | |
4. | Governance | |
8. | Strategy | |
14. | Risk Management | |
16. | Metrics and Targets | |
21. | Next Steps | |
22. | Appendix A: Emissions Scenarios | |
23. | Appendix B: Risk Analysis and Mitigations | |
32. | Appendix C: Glossary | |
personal | ||
Sustainability reporting | ||
For |
This Climate Disclosure Statement is part of the GPT corporate reporting suite for 2021. It should be read in conjunction with other reports, statements and resources including:
» Annual Report | » Environment | » Sustainability Report | » Sustainable | » GPT Website |
An integrated report | Data Dashboard | A report guided by the | Debt Framework | Contains information |
summarising the | Detailed environmental | GRI that details our | A framework outlining | about our enterprise |
value created by | performance | performance, priorities and | how we intend to | policies, processes, |
GPT's business | reporting guided by | progress in addressing | issue and manage | and sustainability |
activities that | the Global Reporting | material sustainability | sustainable debt | initiatives |
includes the annual | Initiative (GRI) and | matters. (To be released | instruments across GPT | |
financial statements | assured annually. | in April 2022.) | and its managed funds. | |
for the Group. |
In addition to the reporting suite, GPT participates in environmental, social and governance (ESG) indices and benchmarks to measure our sustainability performance and provide transparency for our stakeholders.
GPT Climate Disclosure Statement 2021
INTRODUCTION | GOVERNANCE | STRATEGY | RISK MANAGEMENT | METRICS & TARGETS | NEXT STEPS | APPENDIX | ||
1. Net Zero Carbon Buildings Commitment, Introduction: Businesses & Organisations, Sept 2021. page 6. | GPT Climate Disclosure Statement 2021 | 1 |
2021 Highlights
only | % | Issued $250 million inaugural Green Bond | ||||||||||||||||||||||||||||||||||||||||
for the GPT Wholesale Office Fund (GWOF) | ||||||||||||||||||||||||||||||||||||||||||
82emissions intensity reduction since 2005 | ||||||||||||||||||||||||||||||||||||||||||
% | Achieved ISO Certification | |||||||||||||||||||||||||||||||||||||||||
of the GPT Environmental Management System | ||||||||||||||||||||||||||||||||||||||||||
use | 55energy intensity reduction since 2005 | |||||||||||||||||||||||||||||||||||||||||
, | tC02e | Retained Carbon Neutral Certification | ||||||||||||||||||||||||||||||||||||||||
for the GWOF portfolio | ||||||||||||||||||||||||||||||||||||||||||
210emissions avoided044in 2021 | ||||||||||||||||||||||||||||||||||||||||||
$ | Developed our | |||||||||||||||||||||||||||||||||||||||||
Embodied Carbon Strategy | ||||||||||||||||||||||||||||||||||||||||||
energy42and water.7mcosts savings in 2021 | ||||||||||||||||||||||||||||||||||||||||||
" In 2020 the GPT Wholesale Office Fund set the bar high by delivering the first | ||||||||||||||||||||||||||||||||||||||||||
Carbon Neutral Certified prime property portfolio in the world. Green Building Council | ||||||||||||||||||||||||||||||||||||||||||
of Australia applauds this accomplishment as a stand-out example of what can | ||||||||||||||||||||||||||||||||||||||||||
be achieved as a signatory of the Net Zero Buildings Commitment and we thank | ||||||||||||||||||||||||||||||||||||||||||
GPT for their ongoing leadership in this space." | ||||||||||||||||||||||||||||||||||||||||||
DAVINA ROONEY | ||||||||||||||||||||||||||||||||||||||||||
personalCEO, GREEN BUILDING COUNCIL OF AUSTRALIA | ||||||||||||||||||||||||||||||||||||||||||
CHART 1: GPT EMISSIONS REDUCTIONS VS AUSTRALIA PARIS AGREEMENT | ||||||||||||||||||||||||||||||||||||||||||
GPT's emissions reduction pathway tracks significantly ahead of Australia's commitments to the Paris Agreement, ensuring that we | ||||||||||||||||||||||||||||||||||||||||||
c ntribute to attempts to keep global warming below 2 degrees Celsius and reduce the risk of dangerous climate change. This also | ||||||||||||||||||||||||||||||||||||||||||
reduces GPT's exposure to transition risks and opens up opportunities to benefit from a low carbon future. | ||||||||||||||||||||||||||||||||||||||||||
For | ||||||||||||||||||||||||||||||||||||||||||
100 | ||||||||||||||||||||||||||||||||||||||||||
Australia Paris | ||||||||||||||||||||||||||||||||||||||||||
Agreement | Australia 2021 | |||||||||||||||||||||||||||||||||||||||||
80 | projections | |||||||||||||||||||||||||||||||||||||||||
60 | GWOF | Target: | ||||||||||||||||||||||||||||||||||||||||
carbon | ||||||||||||||||||||||||||||||||||||||||||
GWSCF assets | ||||||||||||||||||||||||||||||||||||||||||
40 | neutral | |||||||||||||||||||||||||||||||||||||||||
Target: GPT | ||||||||||||||||||||||||||||||||||||||||||
Target: GPT | ||||||||||||||||||||||||||||||||||||||||||
20 | managed assets | |||||||||||||||||||||||||||||||||||||||||
non-managed | ||||||||||||||||||||||||||||||||||||||||||
0 | assets | |||||||||||||||||||||||||||||||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | |||||||||||||||||
Australia Paris trajectory to minus 26% Target | GPT Total Emissions | GPT Intensity (Scope 1 & 2) | Australia's 2021 projections | |||||||||||||||||||||||||||||||||||||||
2 GPT Climate Disclosure Statement 2021
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The GPT Group published this content on 13 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2022 22:51:01 UTC.