Energy and Greenhouse Emissions Investment & Asset Management
Primary and Intermediate Energy Use
The commercial office portfolio achieved strong results against a backdrop of growing tenant demand, tightening regulation and disclosure requirements and growing community awareness of environmental issues, particularly climate change.
This year we achieved our third consecutive year of independently verified reductions in electricity and gas consumption.
Electricity
Our portfolio is now 20% more efficient than it was in 2003/04 and 7.1% more efficient than in 2005/06.
| Electricity |
2003/04 |
2004/05 |
2005/06 |
2006/07 |
|
| Number of buildings in program with continuous statistics |
23 |
23 |
27 |
28 |
| Floor area (NLA) of buildings with continuous statistics (m2) |
463,150 |
460,911 |
659,329 |
703,110 |
| Metered electricity consumption (MWh) |
62,746 |
56,515 |
76,538 |
75,820 |
| Consumption intensity (kWh/m2) |
135 |
123 |
116 |
108 |
| Reduction (2006/07): 7.1% |
Natural Gas
Our portfolio is now 41% more efficient than it was in 2003/04 and 5.4% more efficient than in 2005/06.
| Natural Gas |
2003/04 |
2004/05 |
2005/06 |
2006/07 |
|
| Number of buildings in program with continuous statistics |
22 |
27 |
27 |
27 |
| Floor area (NLA) of buildings with continuous statistics (m2) |
615,511 |
610,875 |
676,413 |
693,022 |
| Metered natural gas consumption (GJ) |
85,253 |
74,136 |
58,736 |
56,910 |
| Consumption intensity (MJ/m2) |
139 |
121 |
87 |
82 |
| Reduction (2006/07): 5.4% |
Emissions
Excluding the effect of GreenPower™ purchases (which have a positive effect), our portfolio now contributes 22% fewer CO2 emissions per square meter than it did in 2003/04 and 9.3% less than in 2005/06.
Emissions during the period were 9,209.3T below our 2005/06 baseline and GreenPower™ purchases accounted for a further 11,715.8T reduction in the Group's emission profile.
Operation of the buildings included in our electricity and gas reporting contributed to the emission of 90,055T of CO2 during the period.
| Reduction in greenhouse emissions from 1 April 2003 to 30 June 2006* |
38,572.3T |
| Add: |
Emission reductions from Electricity use 06/07 (to 31 March) |
8,871.2 |
| Emission reductions from Gas use 06/07 (to 31 March) |
338.1 |
| GreenPower Total (FY 06/07) |
11,715.8 |
| Total reduction in greenhouse emissions from 1 April 2003 to 30 June 2007 |
59,497.4 T |
* reported previously
Emissions Trading
We continue to actively participate in the NSW Greenhouse Gas Abatement Scheme, one of the world's first carbon trading regimes. During the period we generated 10,072 Greenhouse Gas Abatement Certificates (NGACs). We did not sell any NGACs during the period.
Australian Building Greenhouse Rating (ABGR)
The weighted average Australian Building Greenhouse Rating for the investment portfolio improved to 3.96 stars (out of five), 1.36 stars higher than in 2003/04.
34 buildings achieved ABGR ratings with a combined floor area of 802,339m2. These figures exclude our three jointly owned and externally managed buildings which operate on a different rating timetable.
The weighted average rating for all assets under management, i.e. including assets managed on behalf of external funds was 3.85 stars (up from 3.53 stars in 2006).
|
2003/04 |
2004/05 |
2005/06 |
2006/07 |
|
| Australian Building Greenhouse Rating (stars) |
2.60 |
3.34 |
3.68 |
3.96 |
| Improvement (2006/07): 0.28 stars |
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