Arena REIT has made significant progress on its climate resilience and decarbonisation targets, achieving a 53% reduction in the intensity of its Scope 3 emissions by 2050 and installing solar energy systems on 93% of its properties.
Material Actions and Disclosures
Arena REIT disclosed its Emission Reduction Plan (Plan) in FY2024, outlining its commitment to achieving net zero Scope 3 (Category 13), Downstream Leased Assets Emissions by 2050. The Plan includes an interim target to reduce the emissions intensity of these emissions by 60–70% by 2030, from a FY2021 baseline. Arena has also achieved a 53% reduction in the intensity of its Scope 3 emissions to the end of FY2025 compared with the FY2021 baseline.
In addition, Arena has installed solar renewable energy systems on 93% of its property portfolio, exceeding its target of 90% installation by 2027. The company has also begun implementing a new digital platform to improve access to property-level solar generation data and strengthen emissions measurement and portfolio monitoring.
Arena has achieved zero organisational and services Scope 1 and Scope 2 emissions for FY2025 and maintained carbon-neutral business operations and services. The company has also delivered a 41% absolute reduction in its Scope 3 emissions.
Forward Commitments
Arena REIT aims to continue its efforts to reduce emissions and improve climate resilience. The company plans to engage with tenant partners and other relevant stakeholders to implement emission reduction opportunities as appropriate. Arena will also report annually on actions undertaken, progress toward targets, or any changes to the Plan.
Arena will review the Plan at least every five years to assess whether it remains fit for purpose, continues to be ambitious, and meets stakeholders’ expectations.