Australia’s biggest property companies are making net-zero emissions pledges – now we can track them



Huge crowds marched last week to demand progress towards net zero emissions – and companies are listening.
AAP Image/James Ross

Amandine Denis, Monash University

Corporate Australia is taking action on climate change. Most recently, at the UN Climate Summit, Atlassian cofounder Michael Cannon-Brookes announced the A$26 billion Australian software company’s commitment to net zero emissions by 2050.

Net zero pledges like this are becoming more common but currently there is no way to really track momentum towards net zero emissions across different sectors of the economy.




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Now, a Net Zero Momentum Tracker initiative has been established by ClimateWorks Australia and the Monash Sustainable Development Institute to track emissions reduction commitments made by major Australian companies and organisations, as well as state and local governments.

The tracker aims to place all commitments to net zero emissions in Australia in one place and evaluate how well they align with the Paris climate goals.

Property sector tracking towards net zero emissions

We began by assessing Australia’s property sector. Last week we released a report examining all property companies listed in the ASX 200, plus all of those required to report their emissions under the National Greenhouse and Energy Reporting Act.

Among the companies we looked at are Dexus, Mirvac, Stockland Corporation, GPT Group, and Lendlease. They develop, own or manage some of Australia’s largest corporate offices, commercial properties, retail centres, retirement villages, and residential developments.




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The report found almost half – 43% – of Australia’s largest listed property companies have made commitments that closely align with the Paris Climate Agreement, aiming to achieve net zero greenhouse emissions before 2050 for their owned and managed assets.

Significantly, the six companies with the most ambitious net zero targets represent 36% of the ASX 200 property sector. Among these six, several major companies – Dexus, Mirvac, GPT Group, and Vicinity – are aiming for net zero emissions by 2030, demonstrating the business case for strong climate action.

Sector leaders can inspire copycat action

By highlighting what action organisations are taking and how, the Net Zero Momentum Tracker initiative aims to encourage more organisations to make and strengthen commitments to reduce their emissions, in line with the goal of net zero emissions by 2050.

For example, Australia’s largest owner and manager of office property, Dexus, has a comprehensive strategy for reaching its goal of net zero emissions across the group’s managed property portfolio. This includes reducing energy use, shifting to renewable electricity, electrifying their buildings, and reducing their non-energy emissions from waste, waste water and air conditioning.

Of particular significance is Mirvac’s pledge to be “net positive” by 2030. This means the company aims to go beyond net zero, reducing emissions by more than its operations emit. Mirvac has established an energy company to install rooftop solar on their commercial buildings and is selling power to occupants, among other initiatives. The company also has a “house with no bills” pilot project, to explore how their upstream indirect emissions can be minimised for residential developments.




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Another major company, the GPT Group, has extended its commitment beyond the assets it owns and manages to all buildings it has an ownership interest in, including buildings it co-owns or does not manage.

These companies will get multiple benefits from their action, including reduced operating costs, better health and productivity for occupants, and increased sales prices, rents and occupancy rates.

Need to accelerate action

While many property companies are tracking in the right direction, none of the companies we considered had net zero targets which comprehensively covered all of their emissions – such as those from co-owned assets, their supply chains and investments.

There is still significant opportunity for property companies to strengthen their commitments towards net zero emissions. This requires targets which address the full scope of direct and indirect emissions within each company’s influence, supported by detailed plans to achieve this.




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By making these public commitments to reduce emissions, the property sector is helping build momentum towards achieving this goal across the entire Australian economy.

The next assessments to be undertaken by the Net Zero Momentum Tracker initiative include the banking sector and state and local governments.The Conversation

Amandine Denis, Head of Research, ClimateWorks Australia, Monash University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Feeling flight shame? Try quitting air travel and catch a sail boat



Regina Maris, the ship activists will sail to a climate conference in Chile.
Sail to the COP

Christiaan De Beukelaer, University of Melbourne

If you’ve caught a long haul flight recently, you generated more carbon emissions than a person living in some developing countries emits in an entire year.

If that fact doesn’t ruffle you, consider this: worldwide, 7.8 billion passengers are expected to travel in 2036 – a near doubling of current numbers. If business as usual continues, one analysis says the aviation sector alone could emit one-quarter of the world’s remaining carbon budget – the amount of carbon dioxide emissions allowed if global temperature rise is to stay below 1.5℃.

The world urgently needs a transport system that allows people to travel around the planet without destroying it.

A group of European climate activists are sending this message to world leaders by sailing, rather than flying, to a United Nations climate conference in Chile in December.

The Sail to the COP initiative follows Greta Thunberg’s high-profile sea voyage to attend last month’s United Nations climate summit in New York. The activists are not arguing global yacht travel is the new normal – in fact therein lies the problem. We need to find viable alternatives to fossil-fuelled air travel, and fast.

Greta Thunberg onboard the racing boat Malizia II in the Atlantic Ocean on her journey to New York last month.
AAP



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Why aviation emissions matter

A study conducted for the European Parliament has warned that if action to reduce flight emissions is further postponed, international aviation may be responsible for 22% of global carbon emissions by 2050 – up from about 2.5% now. This increasing share would occur because aviation emissions are set to grow, while other sectors will emit less.

In Australia, aviation underpins many aspects of business, trade and tourism.

The below image from global flight tracking service Flightradar24 shows the number of planes over Australia at the time of writing.

A screen shot from Flightradar24 showing the flights over Australia at the time of writing.
Flightradar24

Federal government figures show the civil aviation sector, domestic and international, contributed 22 million tonnes of carbon dioxide-equivalent emissions in 2016.

The number of passenger movements from all Australian airports is set to increase by 3.7% a year by 2030-31, to almost 280 million.

To change, start with a jet fuel tax

While airlines are taking some action to cut carbon emissions, such as introducing newer and more fuel efficient aircraft, the measures are not enough to offset the expected growth in passenger numbers. And major technological leaps such as electric aircraft are decades away from commercial reality.

Emissions from international flights cannot easily be attributed to any single country, and no country wants to count them as their own. This means that international civil aviation is not regulated under the Paris Agreement. Instead, responsibility has been delegated to the International Civil Aviation Organisation (ICAO).




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The Sail to the COP initiative is calling for several actions. First, they say jet fuel should be taxed. At present it isn’t – meaning airlines are not paying for their environmental damage. This also puts more sustainable transport alternatives, which do pay tax, at a disadvantage.

Research suggests a global carbon tax on jet fuel would be the most efficient way to achieve climate goals.

But instead, in 2016 ICAO established a global scheme for carbon offsetting in international aviation. Under the plan, airlines will have to pay for emissions reduction in other sectors to offset any increase in their own emissions after 2020.




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Critics say the strategy will not have a significant impact – pointing out, for example, that the aviation industry is aiming to only stabilise its emissions, not reduce them.

In contrast, the international shipping sector has pledged to halve its emissions by 2050, based on 2008 levels. Some small shipping companies are even using zero-emissions sail propulsion as a sustainable means of cargo transport.

Sail to the COP is also seeking to promote other sustainable ways of travelling such as train, boat, bus or bike. It says aviation taxes are key to this, because it would encourage growth in other transport modes and make it easier for people to to make a sustainable transport choice.

A growing number of people around the world are already making better choices.
In Thunberg’s native Sweden for example, the term “flygskam” – or flight shame – is used to describe the the feeling of being ashamed to take a flight due to its environmental impact. The movement has reportedly led to a rising number of Swedes catching a train for domestic trips.

Can we sail beyond nostalgia?

Many will dismiss the prospect of a revival in sea travel as romantic but unrealistic. And to some extent they are right. Sailing vessels cannot meet current demand in terms of speed or capacity. But perhaps excessive travel consumption is part of the problem.

The late sociologist John Urry has outlined a number of possible futures in a world of oil scarcity.

One is a shift to a low-carbon, and low-travel, society, in which we would “live smaller, live closer, and drive less”. Urry argues we may be less rich, but not necessarily less happy.

Meantime, the challenges for passenger ocean travel remain many. Not least, it can be slow and uncomfortable – Thunberg likened it to “camping on a rollercoaster”.




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But one Sail to the COP organiser, Jeppe Bijker, thinks it’s an option worth exploring. He developed the Sailscanner tool where users can check if sailing ships are taking their desired route, or request one.

A trip from the Netherlands to Uruguay takes 69 days, at an average speed of 5km/hour.

Some ships might require you to help out with sailing. Other passengers may be required to work look-out shifts. Of course, some passengers may become seasick.

But the site also lists the advantages. You can travel to faraway places without creating a huge carbon footprint. You have time to relax. And out on the open water, you experience the magnitude of the Earth and seas.The Conversation

Christiaan De Beukelaer, Senior Lecturer, University of Melbourne

This article is republished from The Conversation under a Creative Commons license. Read the original article.