2022 was a year of new beginnings for EG, with the business embarking on long journeys towards Real Zero carbon, Remembrance and Reconciliation. We also furthered existing programs seeking to build a better future for our investors, tenants, staff and the broader community.
I’m proud of EG’s commitment to Real Zero carbon. When we embarked on this journey we wanted to establish EG as a leader, re-defining what it means to be carbon zero in the built environment. Had we wanted to be ‘net zero’ today, we would have lent on existing market mechanisms and purchased enough carbon offsets and Renewable Energy Certificates to ‘net’ off EG’s emissions at zero.
Instead, we sought to set a new benchmark for the sector, one that cannot be bought.
And in targeting Real Zero carbon by 2030 I believe we have done exactly that.
That we could set a new direction for carbon zero targets, whilst staying true to EG’s desire for sophisticated, data-driven solutions is a particularly sweet bonus. We aspire to be a ‘light on the hill’ for others by operating at the intersection of technology, climate change and property. We are turning towards electrification, demand management, load shifting and 24/7 renewable energy procurement rather than offsetting fossil fuel use with carbon credits and offsets. In doing so, we are playing a part in the decarbonisation of this sector, and the transition of the Australian energy grid to 100% renewable energy. Lastly, since we are not purchasing additional certificates and credits, we are realising tangible emissions reductions at a reduced cost, aligning environmental and economic outcomes, and delivering better returns for our investors.
To me, that is impact at scale and a target worth investing in.
Other new projects include the sponsorship of the Australian Remembrance Foundation and starting EG’s first Reconciliation Action Plan (RAP) Working Group. I hope that by next year’s ESG Report, I am writing about the success of EG’s first RAP. Remembrance and Reconciliation represent long journeys ahead, not just for EG, but for society more broadly. Journeys we are thrilled to make active contributions to.
You will find in this report more stories about EG’s “weirdness” and how we made 2022 a stand-out year. From our Hobby Program to our remote working sites and cultural events, we’ve continued to foster a uniquely special culture at EG whilst continuing to achieve business goals.
We’re a weird bunch, but a weird bunch committed to a better future for everyone who touches our business.
Learn more about by downloading the ESG Report 2022.