Hyprop Investments: ESG | MarketScreener

0

By their very nature, our centers are places where people connect both physically and emotionally. In addition to our own ethical and business commitment to reducing greenhouse gases, we recognize that our centers must also reflect the prevailing consensus of our stakeholders – and so, as our centers adapt to the changing habits of consumers and retailers’ expectations, they are also recalibrated for sustainable development. coming.

Buildings generally have a long lifespan and much of the existing stock today will still be in use in 2050. Upgrading the existing stock is essential if we are to transition to a low-emissions future.

We have been reporting for some time on upgrades to our centers, which are aimed at improving the experience for tenants and customers. We simultaneously manage utility costs and center operating costs while investing in the changes needed to reduce their environmental impact and build the resilience needed to withstand future shocks, such as steep rate increases and prolonged droughts.

Hyprop Scope 1, 2 and 3 emissions are determined using UK Department for Environment, Food and Rural Affairs (DEFRA) emission factors and the Revised Statement of the Greenhouse Gas Protocol, the internationally accepted tool for governments and business leaders to understand, quantify and manage greenhouse gas emissions.

Our sphere of direct impact is around Scope 1 emissions (diesel consumed to produce electricity and fugitive leaks of air conditioning gas) and Scope 2 (electricity consumed by the center), which represent less than 20% of the centers’ total environmental impact. This means that our partnership with tenants and customers is key to reducing Scope 3 emissions, 87% of which are generated by tenants consuming electricity.

We are working on updating tenant criteria documents that focus on energy, water and waste, and working with tenants on “house rules” to make sure we all reduce our carbon and water footprint in line with Hyprop strategy.

For our part, we have an active strategy and program to make our centers more environmentally sustainable. We are guided by global emission reduction targets, and we do this through a range of projects, from building management, our use of electricity and solar energy, to water and waste.

We have carried out an in-depth dual materiality analysis on the impact of all ESG factors on our business for our SA portfolio and will extend this to include our EE portfolio.

Canal Walk Shopping Center

Cape Town, South Africa

Share.

Comments are closed.