Frasers Property Australia is one of the leading diversified property groups, with over 650 staff and operations in five states.
Frasers Property’s activities nation-wide are extensive: development of residential land, housing and apartments, commercial, retail and industrial properties, investment property ownership and management, and property management.
Becoming certified under NCOS
Frasers Property is a leader among corporations globally that are embedding innovative climate change action into business as usual practices. Carbon neutral certification through the Australian Government’s National Carbon Offset Standard (NCOS) demonstrates Frasers Property’s commitment to manage its carbon impact as we move into a carbon constrained economy.
Pangolin Associates brought extensive NCOS experience to the company. Pangolin has helped more than a third of all government-certified organisations in Australia, including corporations in the property sector with specific industry requirements.
Timeline and process
In 2016 Frasers Property engaged Pangolin for a separate service, the National Greenhouse and Energy Reporting (NGER) scheme. The company fell under the mandatory reporting threshold, but the NGER Greenhouse Gas Assessment meant that Frasers Property also had a baseline and a budget identified for the NCOS carbon inventory (for FY 2015/16). Frasers Property received certification in September 2017.
Pangolin guided Frasers Property through the process, from completing the Australian Carbon Account Report and Carbon Inventory, to helping prepare the requisite documentation. Pangolin liaised with the independent auditor, and the Department of the Environment and Energy on Frasers Property’s behalf.
This was an unusual application. Frasers Property wanted to certify the company’s operations, as well as a subsidiary energy business, called Real Utilities. Real Utilities supplies carbon neutral energy to the occupants of Frasers Property’s buildings and communities. The energy supplied is carbon neutral through a combination of on site energy efficiency, renewable energy and offsetting, which meant the provision of energy was also eligible under NCOS, as a second certification.
Aligning offsets and long term goals
Frasers Property chose offsets that aligned with the company’s long-term strategy, called A Different Way. The carbon credits support countries in which Frasers Centrepoint Limited, the parent company, operates. Selected projects complement the 2030 goal of making clean energy accessible for everyone.
In the 2015/16 NCOS disclosure year, Frasers Property retired offsets totalling 6,673 tCO2e of VCU (Verified Carbon Unit) type offsets. FY 2016/17 numbers will be available on the Australian Government Department of the Environment and Energy website.
Carbon credit projects:
- CECIC Urumqi Tuoli Phase 1 Wind Farm (China) (VCU), APX VCS Registry,
- Quilpeta Regeneration Project (Australia) (VCS), APX VCS Registry,
- Huoshui Grouped Small Hydro (China) (VCU – Social Carbon), APX VCS, Registry,
- Siam Cement Biomass (Thailand) (VCU), APX VCS Registry,
- Musi Hydro (Indonesia) (VCU – Social Carbon), APX VCS Registry.
Frasers Property is actively working to reduce emissions, through staff initiatives, efficiency upgrades and renewable energy, with all their corporate offices targeting 6 star Green Star Interiors ratings. Further, the company has invested in clean energy installations for large Australian projects. An example is the Fairwater project, a residential development of 850 houses in Blacktown NSW in which every home will have a geothermal heating and cooling system. To date, 350 systems have been installed saving 60% in air conditioning energy use for a typical home.
The 2030 plan
A core component of Frasers Property’s 2030 goals fall under restoring resources, incorporating energy, carbon, water, waste, biodiversity, materials and the supply chain.
Olivia Leal-Walker, Sustainability Coordinator notes that the targets and commitments are ambitious, yet attainable. To date, actions include moving to 100% Green Power for corporate offices, reducing Frasers Property’s emissions by 88.6 tonnes of CO2e per year.
During the NCOS reporting period, and incorporated into the Carbon Inventory Report, Frasers Property achieved results in several areas, e.g. electricity, waste, travel, and employee awareness.
- Impact: electricity comprised 45% of the company’s greenhouse gas emissions.
- Purchased 100% Green Power and/or offset 3 of 5 offices.
- Relocated the Perth WA office to premises with a more energy efficient design and layout. The company achieved a 6 Star Green Star Interiors rating.
- Relocated the Rhodes NSW Headquarters to healthy, sustainable premises. This office has earned a WELL Gold certification and is on target for a 6 Star Green Star Interiors rating.
- Set a plan for NABERS certification, a minimum 5 star NABERS Energy Tenancy rating by 2018.
Impact: waste comprised 4% of the company’s greenhouse gas emissions.
- Completed a waste audit at 3 of 5 offices. This audit was part of CitySwitch, a national program designed to lower energy consumption in commercial buildings.
Impact: Business flights comprised 20% of the company’s greenhouse gas emissions.
- Reduced the need for interstate flights by upgrading video conferencing.
Impact: Employee transport comprised 7% of the company’s greenhouse gas emissions.
- Educate and engage employees to encourage a lower footprint at work and at home, e.g. EnviroWeek, Earth Hour, World Green Building Week, Clean Up Australia Day, Tree Day.
The future for Frasers Property Australia
Maintaining the NCOS certification is an important part of Frasers Property’s strategy. Pangolin Associates assists the company ongoing to ensure seamless recertification each year. Frasers Property’s goal is to transition away from carbon offsets over time and continue to increase focus on reduction and prevention measures, and clean energy generation. Olivia Leal-Walker says, “we want to be smarter and more efficient in the way we use the planet’s finite resources, and ultimately, regenerate what we use”.
They have also engaged Pangolin for a Science Based Targets project. With this step, they will align their emissions reductions plan with the Paris Agreement. Like other responsible organisations, Frasers Property will adhere to no more than their share of global emissions to maintain temperature increase below 2°C, as compared to pre-industrial levels. They join a growing list of climate change leaders.
Pangolin Associates was incredibly helpful in guiding us as we navigated the complexities of achieving carbon neutrality for the first time. The team was knowledgeable, patient and had established relationships with all other relevant parties and organisations, including with the Department of the Environment and Energy.
I would feel very comfortable to recommend them, and we are already looking at ways to work with them further!
Olivia Leal-Walker, Sustainability Coordinator, Frasers Property Australia
For more information
- Read more about Frasers Property Group and NCOS: the Fifth Estate – Why carbon neutral makes sense for Frasers.
- Learn more about becoming carbon neutral under NCOS.