Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity & Inclusion
• Governance
• Resource Efficiency
• Community Engagement
• Supply Chain Sustainability
• Modern Slavery

Environmental Achievements

• Delivered 1,053,157 square metres of office space to a minimum 5-star NABERS Energy rating and 1,058,585 square metres to a minimum 4-star NABERS Water rating.
• Achieved a resource recovery rate of 80% across 14 out of 18 de-fit projects.
• Reduced group office emissions intensity by 50.1% since FY08.
• Saved over $164 million through enhanced portfolio energy efficiency since FY08.
• Installed one of Australia’s largest car park solar arrays at Willows Shopping Centre.

Social Achievements

• Achieved an average employee Net Promoter Score of +61.
• Placed internal candidates in 31% of available roles.
• Achieved 36% female representation in senior and executive management roles.
• Recognised as an Employer of Choice for Gender Equality for the third consecutive year.
• Contributed over $1.1 million in value through donations, volunteering, and use of spaces to support community causes.

Governance Achievements

• Established an Environmental, Social and Governance Committee (Board ESG Committee).
• Delivered modern slavery training to all Dexus employees.
• Achieved the highest possible standing across key ESG benchmarks in the industry (e.g., Global Real Estate Sustainability Benchmark, Dow Jones Sustainability Index, CDP Climate Change).

Climate Goals & Targets

Environmental Challenges

• Impacts of the Australian bushfires 2019-2020 on air quality.
• Onset of the COVID-19 pandemic and its impact on business operations, customer occupancy, and employee wellbeing.
• Maintaining a high NABERS Water rating despite increasing occupancy densities and water-intensive features.

Mitigation Strategies

• Established a cross-functional IAQ working group to review IAQ monitoring, alerts, and communications.
• Established three internal committees (Continuity, Planning, and Stakeholder Committees) to manage the COVID-19 crisis.
• Implemented rent relief for small business customers in accordance with the Australian Government’s Code of Conduct.
• Implemented measures to support employee wellbeing during remote work.
• Implemented measures to ensure COVID-safe environments in buildings.
• Implemented initiatives to enhance water efficiency across the portfolio.

Supply Chain Management

Supplier Audits: Rolled out the Property Council of Australia’s modern slavery due diligence tool across top 100 suppliers.

Responsible Procurement

• Sustainable Procurement Policy
• Supplier Code of Conduct
• Modern Slavery Act compliance

Climate-Related Risks & Opportunities

Physical Risks

• Damage from extreme weather
• Heat stress

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products and services
• Increased use of renewable energy

Reporting Standards

Frameworks Used: GRI Standards (Core) and G4 Construction and Real Estate Sector Supplement, International Integrated Reporting Council Framework, TCFD recommendations

Certifications: ISO 14001, ISO 45001

Third-party Assurance: PricewaterhouseCoopers (PwC)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Smart building technologies (occupancy sensors, touchless access management)

Awards & Recognition

• Urban Taskforce Property Person of the Year (Darren Steinberg)
• Employer of Choice for Gender Equality (WGEA)

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Achieved net zero emissions by 30 June 2022 (brought forward from 2030 goal)
• Reduced emissions from 2,325 tCO2-e in 2019/20 to 2,092 tCO2-e in 2020/21
• Sourcing 100% Greenpower

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• COVID-19 restrictions impacting emissions (lower office occupancy, less travel)
• Increased emissions intensity due to inclusion of Dexus Place in reporting boundary

Mitigation Strategies

• Embracing energy-efficient working habits (online meetings instead of air travel)
• Investing in energy and water efficiency, electrification, and waste reduction

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Use of Winc carbon neutral copy paper

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Climate Active Carbon Neutral Standard, Science Based Targets initiative (SBTi)

Certifications: ISO 14001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Social Infrastructure
• Governance

Environmental Achievements

• Macarthur Wind Farm delivers enough clean energy to power the equivalent of 188,000 homes every year.
• Royal Adelaide Hospital awarded a four-star green building rating.
• Various initiatives across multiple assets including LED lighting upgrades, solar panel installations, waste reduction programs, and water efficiency improvements.

Social Achievements

• Significant rehabilitation programs in correctional facilities.
• Community investment through sponsorships and donations across various assets.
• Support for local employment opportunities across multiple projects.

Climate Goals & Targets

Environmental Challenges

• Obtaining appropriate data from operating partners for comprehensive environmental reporting.
• Managing end-of-concession planning for several assets.
• Addressing COVID-19 related impacts on assets.

Mitigation Strategies

• Regular consultation with Dexus sustainability team to improve reporting.
• Early planning and execution of asset hand-backs.
• Strong engagement with clients and operators to mitigate risks and optimize asset performance.

Supply Chain Management

Responsible Procurement

• Engagement with top-tier, reputable contractors

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Principles for Responsible Investment (PRI), GRESB Infrastructure

Certifications: ISO 14001 (at some assets), ISO 9001 (at some assets), ISO 41001 (at Southbank Institute)

UN Sustainable Development Goals

• SDG 3
• SDG 4
• SDG 7
• SDG 9
• SDG 11
• SDG 13

Various initiatives contribute to these goals through improved healthcare access, education facilities, renewable energy, infrastructure development, and environmental sustainability.

Awards & Recognition

• Most Beautiful Sports Facility in the World (Perth Stadium)
• Venue of the Year (Perth Stadium)
• Silver in the 2022 Qantas Tourism Awards (Darwin Convention Centre)

Environmental Metrics

ESG Focus Areas

• Customer Prosperity
• Climate Action
• Enhancing Communities

Environmental Achievements

• Maintained net zero across scope 1 and 2 (and operational scope 3) emissions across managed portfolio
• 100% of electricity sourced from renewable sources in FY24 across the platform’s managed portfolio
• Reduction in energy intensity across the platform’s managed office portfolio by 10% since 2019
• Reduction in water intensity across the platform’s managed office portfolio by 23.2% since 2019
• Waterfront Brisbane diverted circa 98% or 29,300 tonnes of deconstruction waste from landfill through recovery and recycling

Social Achievements

• Customer Net Promoter Score of +44
• Average NABERS Indoor Environment rating across the platform office portfolio of 5.2 stars
• Delivered 120 community activations across Australasia
• Community contribution value of >$1.78m
• 732 hours of employee volunteering
• Launched a First Nations Art Program at 25 Martin Place

Governance Achievements

• Dexus has been included in the S&P Global Sustainability Yearbook 2024
• Dexus and five funds achieved 5 star GRESB ratings for 2023
• Dexus was recognised by Climateworks as one of two assessed Australian organisations that fully met their principals for credible net zero targets and action

Climate Goals & Targets

Environmental Challenges

• Lower trading profits impacted financial result
• Near-term headwinds to funds under management
• Higher average cost of debt
• Office assets saw the highest valuation declines in the Australian real estate market during the year
• Employee engagement score of 61% impacted by AMP Capital acquisition integration
• Challenges to achieving gender equity

Mitigation Strategies

• Actively managed debt position, refinancing $1.0 billion of facilities
• Selectively divesting assets to enhance portfolio quality and balance sheet strength
• Implemented initiatives across the expanded portfolio focusing on Customer Prosperity, Climate Action and Enhancing Communities
• Developed new Sustainable Development Standards for office, industrial and healthcare sectors
• Focused on strategic people initiatives, providing active support for internal career planning, development and learning opportunities
• Continued commitment to gender equity and implementing initiatives to address the gender pay gap

Supply Chain Management

Supplier Audits: 1,179 suppliers (70% of total supplier spend) underwent carbon risk profiling; in-depth assessments of 86 key suppliers

Responsible Procurement

• Supplier Code of Conduct
• EcoVadis supplier verification (100% of preferred supplier spend)

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Flooding

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Investment in renewable energy

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 45001, ISO 14001

Sustainable Products & Innovation

• Greenkey® program
• Sustainable Development Standards

Awards & Recognition

• S&P Global Sustainability Yearbook 2024
• GRESB 5 star ratings
• Climateworks recognition for credible net zero targets
• Australian Workplace Equality Index Silver employer status
• Airports Going Green Award for Melbourne Airport