Sustainability at Dexus Leading the way to zero emissions and smart, sustainable workplaces Dexus Funds Management Limited ABN 24 060 920 783 AFSL 238163 as responsible entity for Dexus
Agenda - Overview • Our sustainability approach • Why adopt an active approach? • From strategy to action • Progressing our environmental commitments • Tangible benefits from investing in sustainability • Our memberships and affiliations - Measuring our sustainability performance • Performance in global surveys • Everything is connected • New energy, new opportunities • Alignment with our customers - It’s more than reducing emissions - ESG initiatives in action at Dexus 5 Martin Place, Sydney. 2 Sustainability at Dexus
Overview 3 Sustainability at Dexus
Our sustainability approach – creating sustained value Supporting our strategic objectives of ‘Leadership in office’ and ‘Funds management partner of choice’ Thriving People Future Enabled Customers We help people thrive by delivering We create an ecosystem that activates the healthy, productive working lifestyles and whole value chain transgressing the blurred environments to our employees, line between work, live and play customers and communities Enriched Environment Leading Cities We are a leading owner, operator and We are a key contributor to Australian developer of high performing, sustainable Cities being the best in the region, buildings that exemplify environmental boosting appeal and attraction of talent performance and resilience Strong Communities We develop strong communities focused on the health, prosperity and resilience of people and places 4 Sustainability at Dexus
Why adopt this active approach? - Create “Sustained Value” aligning with the our strategic objective of being globally recognised as Australia’s leading real estate company - Demonstrate a leading approach and mitigate non financial risks relating to Environmental, Social and Governance (ESG) - Increased investor and customer enquiry on performance • Increased investor appetite for responsible investments • Growing customer consciousness of their corporate footprint and staff wellbeing • Insulate customers from volatility in energy markets - Build symbiotic partnerships with key stakeholders - Attract and retain the best talent - Legislative/political environment readiness • Potential opportunity for increased floor space ratio for carbon neutral buildings • Potential mandatory performance benchmarks - Meet the needs of government tenants • Proposed minimum 5 star NABERS Energy performance by 2018 • Centralised procurement increasing governance and compliance to environmental standards 100 Mount Street, North Sydney. 5 Sustainability at Dexus
From strategy to action Dexus creates sustained value by taking a systematic approach linking our strategy and vision to our actions and performance outcomes. Measure & report Engagement Policies Commitments Practices performance - We engage with - Our ESG policies - We set measurable - We integrate ESG - We report stakeholders to identify adopt a best practice performance targets management practices achievements, and manage material approach to inform all across our key within day-to-day performance and issues which have the stakeholders of their stakeholder groups to operations, management greatest impact legal and corporate drive ethical and developments and approach within our responsibilities responsible investment decision Annual Performance performance in all making to enhance Pack and GRI areas of operations performance and Standards disclosure create sustained value 6 Sustainability at Dexus
Progressing our environmental commitments Each year we measure our performance Commitment Status 2017 achievements Deliver 1,000,000sqm of office property to a minimum 5 Star On track with over 765,000sqm at 5 star NABERS Energy rating and NABERS Energy rating and 4 star NABERS Water rating by 680,000sqm at 4 star NABERS Water rating at 31 December 2017 2020 Dexus made progress towards its 2020 target achieving a 5.7% reduction in Reduce energy consumption and emissions across the Group by energy consumption and a 7.4% reduction in Scope 1 and Scope 2 a further 10% by 2020 using the FY15 baseline including greenhouse gas emissions against FY15 like-for-like baseline at 31 exploring opportunities for renewables December 2017 Adopted the Better Building Partnerships strip-out waste guidelines to Consistently demonstrate a resource recovery rate of 80% from minimise fit-out waste to landfill with eight de-fit projects in New South de-fitting vacant space by 2020, actively identifying charities and Wales and Queensland diverting all the furniture and computer appliances markets for re-use and increasing waste diversion from landfill bound for landfill and donated them to charity and aid organisation. Local donations have also occurred Expand the “Virtual Engineer” program by applying 24/7 46 sites have been included in the central platform with implementation of computer analytics to predict and react to Heating Ventilation analytics and/or smart metering up to December 17 and Air Conditioning (HVAC) events in real time Design briefs reviewed and updated across the Office and Industrial Review design briefs across all asset classes to develop an in- portfolios to include best practice sustainable design focusing on house suite of best practice sustainable development practices environmental performance and wellbeing 7 Sustainability at Dexus
Tangible benefits from investing in sustainability Our sustainability approach focuses on creating sustained value for our people, customers, communities, cities and the environment. Reduce total Customer Brand Social license occupancy costs preference differentiation to operate 8 Sustainability at Dexus
Our memberships and affiliations - Dexus is a signatory to: - Dexus is a member of: - Dexus reports in accordance with: 9 Sustainability at Dexus
Measuring our sustainability performance 10 Sustainability at Dexus
Dexus’s performance in surveys and benchmarks 1 st A+ A- Rating 82/100 in Global Listed Office & Strategy & 3 rd among all Governance 2017 CDP Climate Change 2017 RobecoSAM/DJSI GRESB participants Survey Sustainability Assessment 2017 Transparency Dexus Office Trust Assessment 2017 GRESB Survey Global Sector Silver A Ranked in the top 18% Leader Sustainability Award globally on climate Direct Property Diversified Office/Retail strategy and performance & 22 nd Globally 2017 Transparency 2018 RobecoSAM Dexus Wholesale Property Fund Assessment Sustainability Yearbook 2017 GRESB Survey 11 Sustainability at Dexus
Everything is connected Setting targets creates action and improves business outcomes 12 Sustainability at Dexus
New energy, new opportunities Leading the way to zero emissions by 2030 through smart, sustainable workplaces 1 2 3 Improve energy Increase Offset efficiency renewables where needed 13 Sustainability at Dexus
Alignment with our customers “To tackle climate change we “The transition to net zero emissions “Our goal is to reduce our have set a bold new ambition to by 2050 is a major priority for the organisational carbon be carbon positive in our Bank…(our immediate target is to) footprint by 2020 to 20% operations by 2030” Source renewable energy for 25% of below 2012 levels” our power needs by 2020” Source: Unilever Source: Kathmandu Corporate Responsibility Sustainable Living Plan Source: Commonwealth Bank Climate Policy Position Statement 14 Sustainability at Dexus
It’s more than reducing emissions 15 Sustainability at Dexus
Sustainability initiatives at Dexus Property programs Enhanced customer Environmental targets ‘Virtual Engineer’ Green Star and Waste recycling offering & monitoring building analytics NABERS ratings program programs Dexus ISO 14001 Customer GreenPower Carbon neutral Green leasing Environmental engagement and purchases operations Management System insights Thinking Future Beyond 2020 Carbon neutral Power Purchase Rooftop solar energy Advanced waste targeting net zero buildings Agreements generation recycling emissions 16 Sustainability at Dexus
Our climate change resilience pathway Reduce Adapt to Influence our climate our value impact changes chain - 2030 rapid de-carbonisation targets - Addressing the physical and - Engaging with customers to adopt transitional risks facing our people, a whole building approach - Energy efficiency properties and places - Adopting a ‘life-cycle approach’ - Electrification - Leveraging climate change-related and ‘net zero’ targets in new opportunities developments - Onsite and offsite renewables - Procuring for a low carbon supply - Offset remaining emissions chain 17 Sustainability at Dexus
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