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Climate change is one of the biggest threats to society and the capital markets today, where the built environment contributes to approximately 40% of the global GHG emissions. In our bid to transition to a low carbon future, the Group adopts the principles recommended by the Task Force on Climate-related Financial Disclosures (TCFD) Framework. The framework seeks to integrate climate-related considerations into strategic, investment, and operational decision-making, and to quantify the financial implications of the associated climate related risks (physical and transition). With this TCFD focus, ESR is committed to reducing the physical vulnerability of our real assets, as well as identifying opportunities to enhance the resilience of the business against the effects of impact presented by climate change.
As some highlights, ESR Australia has pledged to become a carbon neutral organisation in 2024 by achieving the Climate Active Carbon Neutral Standard. In 2021, ARA became a signatory to the World Green Building Council (WorldGBC)’s Net Zero Carbon Building Commitment.
More information on the Group’s climate action initiatives is available in the ESG Report 2022.
