Vicinity Centres is a leading Australian retail property group that operates in the Real Estate Investment Trust (REIT) sector. The company owns and manages a portfolio of high-quality shopping centers across Australia, with a focus on creating engaging and sustainable retail experiences for its customers. The company's vision is to be the leading retail property group in Australia, delivering sustainable value for its stakeholders through innovation, customer focus, and operational excellence.
One of the key priorities for Vicinity Centres is decarbonisation. The company recognizes the urgent need to reduce its carbon footprint and transition to a low-carbon economy. To achieve this goal, Vicinity Centres has set ambitious sustainability targets, including a commitment to achieve net-zero carbon emissions by 2030. The company is taking a holistic approach to decarbonisation, focusing on reducing energy consumption, increasing renewable energy generation, and improving the efficiency of its buildings and operations.
Corporate energy is another area of focus for Vicinity Centres. The company is committed to reducing its energy consumption and increasing the efficiency of its buildings and operations. To achieve this goal, Vicinity Centres has implemented a range of energy-saving initiatives, including the installation of energy-efficient lighting, heating, and cooling systems, and the implementation of energy management systems to monitor and control energy use.
Corporate Power Purchase Agreements (PPAs) are another important tool for Vicinity Centres in its efforts to transition to renewable energy. PPAs allow companies to purchase renewable energy directly from generators, providing a stable and predictable source of renewable energy at a competitive price. Vicinity Centres has signed several corporate PPAs with renewable energy providers, including a 15-year agreement with the Murra Warra Wind Farm in Victoria, which will provide the company with 100% renewable energy to power its shopping centers.
Renewable energy is a key focus for Vicinity Centres, and the company is committed to increasing the amount of renewable energy it generates and uses. The company has set a target to generate 40% of its energy from renewable sources by 2023, and is investing in a range of renewable energy projects, including solar PV systems, wind turbines, and battery storage. Vicinity Centres is also exploring innovative new technologies, such as hydrogen fuel cells and geothermal energy, to further reduce its carbon footprint and increase the sustainability of its operations.
In addition to its focus on sustainability, Vicinity Centres is also committed to creating engaging and innovative retail experiences for its customers. The company is investing in new technologies and digital platforms to enhance the customer experience, including the use of augmented reality, virtual reality, and artificial intelligence. Vicinity Centres is also working with retailers to create unique and engaging in-store experiences, such as pop-up stores, interactive displays, and experiential events.
Vicinity Centres is a leader in the Australian retail property sector, with a strong focus on sustainability, innovation, and customer experience. The company's commitment to decarbonisation, corporate energy, corporate PPAs, and renewable energy is setting a new standard for the industry, and is helping to drive the transition to a low-carbon economy. With its focus on sustainability and innovation, Vicinity Centres is well positioned to continue delivering value for its stakeholders and creating engaging and sustainable retail experiences for its customers.