Vicinity’s vision of delivering the leading retail property and lifestyle experience in Australia requires us to find the right balance and create the best outcomes for the social, environmental and economic aspects of our business.
We know that our shopping centres are the centrepiece of communities across Australia and are therefore an important contributor to establishing smart, sustainable cities with high-quality living experiences that are well positioned to drive our future economy. Our purpose - Enriching Community Experience – recognises this contribution, and requires us to secure the long term future of our business by delivering value for our customers, investors, people and the communities in which we operate.
Shared value drivers
Our shared value drivers achieve broad value creation for Vicinity and our stakeholders in partnership with our business drivers, to deliver on our purpose of enriching community experiences.
Our enablers help us deliver our shared value drivers and achieve our purpose.
Significantly reducing the long term carbon footprint of our asset portfolio by implementing innovative energy efficiency technologies and increasing our uptake of rooftop solar.
Ensuring the optimal portfolio mix to drive long-term, sustainable growth through asset recycling, divestments, new acquisitions and other investments.
Sustainability aspects are important considerations in our investment decisions, as well as in attracting diverse funding opportunities, including sustainable investment funds.
Driving positive social change and connection with our centres through targeted community investment. We support youth disengagement and unemployment programs at a national and local level, to improve the amenity and appeal of our assets while making a positive contribution to the community.
Enhancing customer experiences by delivering developments that respond to changing retail environments.
Development gives us the opportunity to positively impact the environment and better support our communities by investing in new initiatives.
Resilient centres that are prepared for, and can support local communities during times of extreme weather events. We anticipate future weather projections and incorporate resilience measures in our developments and refurbishments to provide safe places for our communities and ensure we remain open for trade during storms, heatwaves and floods.
Intensive asset management
A collaborative approach across our business to enhance the customer experience and optimise the performance of every asset. Improving environmental efficiency across energy, water and waste management activities forms an important part of our approach.
Digital technology helps us enhance customer experience and drive operational efficiencies. Our sustainability data management system is integrated with Vicinity’s connectivity project and enables us to monitor environmental data against real-time customer statistics to improve building performance.
Fostering a culture where our people feel valued, passionate and inspired to succeed. The Diversity Forum, flexible working policies, learning and development opportunities and employee volunteering and giving programs help make Vicinity a great place to work.
Having best practice governance and risk management systems, continuously improving our performance and being transparent to our stakeholders. Sustainability is integrated into our business strategy and our CEO chairs Vicinity’s Sustainability Committee. We use NABERs and Green Star to benchmark and improve our environmental performance, and communicate with our external stakeholders through investor sustainability surveys and annual Sustainability reporting.
Capital and Partnerships
Developing partnerships with our retailers and suppliers to deliver sustainability outcomes beyond those achievable on our own. This includes using social enterprises to meet procurement needs and partnering with sustainability minded retailers to improve our collective performance.