APN Industria REIT (Industria) has been awarded carbon neutral certification across its operations and property portfolio.
Industria will become one of the first Australian REIT’s to achieve this certification for both the emissions associated with its portfolio and across its corporate activities, under the Climate Action Standard.
In order to achieve this Industria had to be determined to meet Climate Active’s definition of net zero emissions or carbon neutrality.
Industria has met this standard by making a number investments over the past four years, including into 2.5 Megawatts of onsite solar installations, resulting in 2.4 million kilograms of carbon dioxide emissions being saved.
“The energy generated from our investments in solar is more than double the energy we consume, reducing our reliance on the grid,” said Alex Abell, fund manager for Industria.
These savings outperform the emissions attributable to the REIT’s property portfolio, according to the Climate active standard and have resulted in Industria’s Brisbane Technology Park being 49% self-sufficient in daylight hours.
“We set our ambitious carbon neutral target in 2020, seeking certification not only across our operations but also across the property portfolio under our operational control,” added Abell.
Further reductions across the group were met by changes in head office corporate activities and the largely eliminated emissions from business travel, with COVID-19 making such travel stalled.
“We look forward to leveraging the Dexus platform to further reduce our carbon footprint, with an additional 1.35 Megawatts of solar installations planned in FY22,” concluded Abell.
Both Industria and Dexus, who in May absorbed APN in a $320 million takeover agreement, are members of the Climate Active Network.
Industria, who due to the takeover are set to be rebranded as Dexus Industria REIT, saw its full-year funds from operations lift 12% to $41.2 million, after reweighting its assets towards warehousing and logistics.