Vicinity Centres has announced a Net Zero 2030 Target to achieve net zero Scope 1 and 2 GHG emissions through operational abatement activities, focusing on energy efficiency and electrification. The company aims to reduce emissions intensity by 45% from the 2016 baseline, without relying on carbon credits to date. Key initiatives include investing in energy efficiency programs, electrifying HVAC systems, optimizing building performance, and reducing the use of high global warming potential refrigerants in line with Australian regulations.
Material Actions and Disclosures
Vicinity Centres has installed 31.3 MW of solar capacity across 17 centers and operational battery energy storage systems at three centers. The company also increased the number of electric vehicle charging spaces to 110 across 29 centers, and aims to reduce total energy consumption by 3% and energy intensity by 4% from FY25. Additionally, Vicinity Centres has increased the waste diversion rate by 9 percentage points to 45% in FY26.
Vicinity Centres continues to monitor water use through wireless water metering and smart water meters, and has implemented a Shuck Don’t Chuck program at Chadstone to minimize waste in its centers.
Forward Commitments
Vicinity Centres plans to expand on-site renewable energy generation and battery energy storage across its portfolio. The company will also conduct a three-year program of electrical audits to assess existing electrical infrastructure, identify resourcing requirements, and evaluate readiness for future electrification. Vicinity Centres expects to develop a carbon credit strategy if required to address residual GHG emissions.
Vicinity Centres will continue to monitor progress against its Net Zero 2030 Target through quarterly performance reports to RCEC key performance indicators (KPIs) and an annual Net Zero 2030 Target update to the Board.