With ambitious goals in sight, we initiated and maintained a range of environmental, social and governance initiatives last financial year; all of which support our communities and our people while helping to boost environmental performance across our domestic portfolio.
One major highlight was the $300m Climate Bond Initiative-certified green bond issued in August for the QIC Shopping Centre Fund – a world-first in the retail property sector that was more than two years in the making.
QICGRE Managing Director Michael O’Brien said: “Issuing a green bond is an important milestone for QSCF and the retail property sector globally, and an endorsement of our progress and ongoing focus on sustainability.” He added its success – the bond was five-times oversubscribed – demonstrates that investors across Australasia are increasingly seeking out more sustainable investment options.
The report outlines how, for QICGRE, delivering sustainability initiatives generates strong commercial outcomes and operational savings at the same time as reducing the environmental footprint of mixed-use destinations. Considerable progress has been made in waste management for example, with Hyperdome diverting more than 40 per cent of its waste from landfill each month.
Meanwhile, The Kitchens precinct at Robina Town Centre has collected more than 31,000 litres of oil for reprocessing and reuse as a renewable energy source since opening in 2016. The centre also diverted more than 18 tonnes of pollution from local waterways and beaches between October 2018 and July 2019 as a result of installing stormwater drain filters.
Elsewhere, a smart building technology trial brought about a 2500MWH reduction in energy consumption and we are poised to report further electricity reductions as a result of a substantial LED installation project.
We have both supported existing local services and implemented a range of social and community-minded initiatives that are making a difference in the lives of those who frequent our destinations.
Among these is our support of The Sanctuary in Castle Hill – a crisis accommodation service housed in a property provided by QICGRE. Over the past three years The Sanctuary has enabled more than 300 women and children to lead safer lives. Eastland Multicultural Community Garden, a welcoming communal space that offers vegetable-growing plots to low-income community members, is also set to expand in 2020 as a result of strong uptake this year.
Also in 2019, our retail partners at Domain Central donated more than $100,000 in goods for those affected by the Townsville floods, while in-centre collections contributed more than $40,000 to the Salvation Army’s Red Shield Appeal.
Read the full report to find out more about how we’re creating tangible outcomes for the communities we invest in.