Mirvac launched its plan for a sustainable future in 2014 with This Changes Everything.
Strategy on a page
This year, we achieved two of our sustainability commitments, with the delivery of two Smart Buildings at 200 George Street in Sydney and 699 Bourke Street in Melbourne, as well as achieving our 20 per cent carbon intensity reduction (against a 2013 baseline).
We also set the new targets, including:
- integrating sustainability criteria into our procurement process by 2017;
- creating community plans or charters for all office, retail and residential projects by 2018;
- creating green travel plans for all assets by 2018;
- creating biodiversity action plans on all assets by 2018;
- piloting a home with no energy bills by 2018;
- installing solar PV on all new Mirvac homes by 2020; and
- installing batteries on all new Mirvac homes by 2025.
Mirvac is a leading, diversified Australian property group, with an integrated development and asset management capability.
Principally located in Australia’s four key cities of Sydney, Melbourne, Brisbane and Perth, we own and manage assets across the office, retail and industrial sectors, with over $15bn of assets currently under management. Our development activities allow us to create and deliver innovative and high-quality commercial assets and residential projects for our customers, while driving long-term value for our securityholders.
Our integrated approach gives us a competitive advantage in the creation of quality assets across the entire lifecycle of a project; from planning through to design, construction and development, leasing, property management and long-term ownership.
Established in 1972, Mirvac has more than 40 years of experience in the property industry and an unmatched reputation for delivering superior products and services across our businesses.
With our innovative approach becoming ingrained into how we do business, we’ve gained momentum on our Smarter Thinking commitments, including the delivery of two Smart Buildings: 200 George Street in Sydney and 699 Bourke Street in Melbourne.
This year, a lot of the work we’ve been doing with new technology came to fruition, both across our projects and within the business. Increasingly, we’re looking at how technology can influence all phases of our process, from data collection, to design and construction, right through to facility management and customer experience. Of course, with new technology emerging all the time, this is a never-ending journey, but it’s one that never fails to inspire us.
In the past few years, we've talked about how the trials of SkySpark technology and Cooling Tower Telemetry have helped us to significantly reduce both energy and water consumption on a few select assets. This year, these technologies were rolled out across approximately 20 properties.
While achieving our goal to be net positive will still be a challenge, our efforts remain focused and consistent and we believe we are on track to make it a reality.
In the past twelve months, Mirvac have achieved some amazing results against the Re-Imagining Resources commitments including:
- achieving a 3 Green Star - Performance Portfolio rating across 41 of our assets
- 20% reduction in carbon intensity (like-for-like)
- almost tripling the output of our rainwater system at 275 Kent Street in Sydney through the implementation of an optimisation strategy: and
- increasing the recycling rate in our investment division from 45 to 60 per cent.
Carbon Intensity Update
With a cleaner grid and significant investment in energy efficiency, we were pleased to achieve our carbon intensity reduction commitment of 20 per cent this year, ahead of our 2018 target.
As we continually dispose of and acquire assets, our investment portfolio changes, so we will need to continue to monitor our progress to ensure we maintain both our carbon and water intensity reduction targets up to the final due date in 2018.
Moving to Zero Waste
When it comes to managing waste, there are six key strategies we use: avoid, reuse, recycle, recover, treat and dispose.
In 2016, we continued to do well on all fronts, making some strategic decisions that have already had far-reaching impacts. Our investment waste recycling rate of 60 per cent surpassed the teams' 2016 target of 55 per cent, which means we are well on track for delivering on our 2018 commitment to recycle 75 per cent of waste.
This year we’ve made great progress on our Future of Place commitments, with the delivery of our Sustainable Lifestyles Index, the launch of House with No Bills and significant progress on our commitment to deliver a One Planet Living community with the selection of a site at Marrickville in Sydney.
Sustainable Lifestyles Index Developed
Following on from last year’s desktop research into our Sustainable Lifestyles Index (SLI), we have now completed a second workshop and internal testing to develop our own SLI tool. Our tool has now been finalised, and covers four key categories: Environment, Economic Prosperity, Health & Wellbeing, and Community. While we haven’t quite met our goal to deliver it within FY15, the tool will be piloted on several sites by the end of December 2016.
We’ve realised that the more strategic our community initiatives are, the more impact they can have. Whether it’s by consolidating our charity efforts or gathering data through our online data capture system, iSystain, we're striving to be more focused in every aspect of our community work. With our community investment almost doubling since the launch of This Changes Everything, this approach is already making a difference. By 2018, we’ve committed to bringing all of our community tools and processes together in the form of a community framework.
As part of our commitment to deliver a Reconciliation Action Plan by 2017, we spent this year developing our strategy towards reconciliation. The strategy has now been approved by Mirvac's Executive Leadership Team (ELT). By making this our starting point, we believe we can maximise the individual's potential, and create opportunities and positive change.