Environment

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GPT is committed to being a positive contributor to environmental sustainability while improving resilience to environmental changes.

GPT relies on natural resources in our business activities. The resilience of these environmental resources and processes is fundamental to our ability to create value and deliver financial returns now and in the future. We share in the responsibility of reducing the environmental impact of our business activities, and aim to reach a point where resources are sustainable used and waste and emissions are at or do not exceed levels that can be re-absorbed in the environment without harm.

2021 Key Results

In 2021:

2021 Key Results

  • GPT has more carbon neutral building certified floor space than any other Australian property owner, as at Dec 21 by GFA certified against Climate Active Carbon Neutral Standard for Buildings.
  • We achieved ISO14001 Certification for our Environmental Management System.
  • The GPT Wholesale Office Fund issues its inaugural Green Bond for $250 million.
  • Two recent office developments - 32 Smith Street and Queen & Collins - achieved the maximum 6 Star Green Star Design & As Built rating from the Green Building Council of Australia, representing "world leadership" in sustainability. 32 Smith Street includes smart water management and an on-site solar array and Queen & Collins reused over 90% of the facade and structure from the existing asset as part of its redevelopment, drastically reducing its embodied carbon impact and supporting circular economy solutions. Both assets operate on a carbon neutral basis with 100% renewable electricity and are targeting Climate Active for Buildings Certification in 2022. 
  • In addition to the re-certification of the GWOF portfolio, 4 Murray Rose and 60 Station Street achieved Climate Active Carbon Neutral Building Certification and four buildings commenced operating on a carbon neutral basis, included two retail centres.
  • As at Dec 2021, there was 5.4 MW of solar photovoltaic arrays across the portfolio.
  • The Group's Office portfolio delivered a a 5.8 Star Weighted Average NABERS Energy Rating (with GreenPower), a 4.9 Star Average NABERS Water Rating and a 3.1 Star Average NABERS Waste Rating (68 per cent rated) for the Group's Office portfolio.
  • The Group's Retail portfolio delivered a 4.6 Star Weighted Average NABERS Energy Rating (without GreenPower) for the Group's Retail portfolio and a 3.7 Star NABERS Water Rating.
  • Commenced water master planning to create a pathway to achieve the objective to opearte our GPT-managed office and retail buildings on a water neutral basis by 2030.
  • Over 70 per cent of GPT-managed assets (by area) were serviced by GECA Waste Collection Services certified contractors.
  • Over 6,000 tonnes of material, including organics, paper & cardboard and glass were recovered in line with circular economy, closed loop principles.
  • GPT's 2021 biodiversity project investements with Greenfleet will restore ecosystems, improve waterways and remove over 8,850 tonnes of carbon dioxide emissions via reforestation projects.
  • Our biodiversity tools are being used across managed assets to identify potential hazards to biodiversity and onsite actions to improve biodiversity. 

GPT Carbon Neutral Journey

Our Management Approach and Progress

Environmental sustainability is integrated into the management of our portfolio operations and development projects. Working with site teams and other key stakeholders, performance is reviewed and targets set to improve GPT’s environmental sustainability performance each year.

We track the performance of all sites for our material environmental aspects and use this for management reporting, driving improvements and disclosing our performance.

Detailed environmental performance by impact area is provided in the pages contained in the environment section of our website and published in external reports, including the:

Our Material Impacts and Approach

GPT identifies, addresses and reports on material environmental matters that are relevant and important to its stakeholders alongside economic and social matters. We are guided by an ISO-based approach and the Global Reporting Initiative's Sustainability Reporting Standards in this process. An external materiality assessment was understaken during 2021 to inform our consideration of potentially material economic, environmental and social matters. The assessment used the 'double' or 'nested' materiality approach and confirmed our ongoing focus and policies for addressing our environmental impact and resilience. You can read more about our materiality and stakeholder engagement processes and our material ESG topics in the 2021 Sustainability Report.

The following areas continue to be GPT's most material environmental impacts. We have policies that outline our approach, long-term objectives and strategies to addressing them, with our primary focus being to reduce the impact in areas within our control, be an overall positive contributor to the environment and be resilient to environmental changes. Beyond the environmental impacts within GPT’s direct control, we support and encourage GPT’s stakeholders to take action where we have influence.

Policy area Summary of our objective and approach
Climate Change and Energy The GPT Group will be carbon neutral and resilient to the impacts of climate change by driving efficiency, developing on-site solar energy, procuring off-site renewable contractos for electricity and electrification. 
Materials and Waste Management The GPT Group will procure, use and recover materials in a closed loop, circular manner by managing consumption of materials through procurement and recovery activities.
Water The GPT Group will be water neutral and resilient to water scarcity and extreme rain events by delivering driving efficiency improvements, matching end uses to appropriate water sources, evaluating water discharge rate and quality and investing residual water usage.
Biodiversity The GPT Group will have a net positive impact on biodiversity by assessing and measuring our impacts, improving the value of sites and material selection and investing in reforestation programs.

 

View all GPT policies