solar panels renewable energy
Retailers at 11 of 16 Mirvac shopping centres can on-sell electricity to one another. Image: Science in HD, Unsplash
  • As of January 1st, all 16 shopping centres now powered by renewable energy
  • Equivalent to eliminating 30,000 tonnes of CO2 emissions this year – equivalent to 12,000 less cars off the road
  • Next goals are net positive water and zero waste to landfill by 2030

Australian property group, Mirvac, have announced that all 16 of its shopping centres are now 100 % powered by renewable energy.

This is a promising step for the company who have committed to being net positive carbon by 2030.

All retail shopping centres in New South Wales, the Australian Capital Territory and Victoria had been purchasing 100 per cent renewable energy for over a year but since the beginning of this year, Mirvac’s Queensland centres have joined their eastern states counterparts meaning Mivac has eliminated electricity use across its entire portfolio.

The announcement means close to 30,000 tonnes of CO2 will be eliminated this year – equivalent to emissions on 12,000 cars.

This reduces Mirvac’s overall carbon emissions by 39 per cent for this financial year.

Many retailers across 11 of their 16 centres have the bonus of being enabled to on-sell renewable electricity within each precinct thanks to embedded networks.

Combining the amount these retailers save in lower emissions with Mirvac results in the elimination of 51,000 tonnes of CO2 in 2021 – the equivalent of removing 21,206 cars off Australian roads.

Sarah Clarke, Mirvac Group’s General Manager for sustainability is pleased with the results and hope this success drives change in the industry.

“Our shopping centres play a major role in their local communities and we believe it is our responsibility to work hard to ensure we drive positive change in this area,” says Ms Clarke.

“And further to that, we want to share this message with all of our customers and partners, that even small efforts – whether being mindful of electricity or water usage, recycling or reducing waste in the first place – can make significant progress in ensuring we all work towards having a positive environmental impact.”

Mirvac’s efforts do not just stop at net positive carbon – the company is planning to achieve net positive water by 2030, which it is on track to achieve having reduced overall water intensity by 37 per cent across its shopping centres.

Another ambition announced last year is to send zero waste to landfill. Mirvac’s retail portfolio is now diverting 69 per cent of waste from landfill, more than double the 34 per cent diversion rate it had in 2014.

 



You May Also Like

Cost of living dampens commercial retail property outlook

Many retail property investments likely to continue softening during 2023 according to Herron Todd White

Aventus and HomeCo Daily Needs REIT to merge

Combined portfolio worth over $4 billion

August retail sales slide 1.7%

Clothing, footwear and personal accessory the hardest hit

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Rentvesting in Australia: A deep dive

Rentvesting offers an alternative path into the property market for priced-out first-time buyers.

Housing crisis survival guide: How to buy your first Australian property

Three property experts give the low down on how to nab a home in this tough housing market.