Cedar Pacific Investment Management Pty Ltd
Climate Impact & Sustainability Data (2021, 2023)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- 39% reduction in waste across the portfolio since 2020
- 5-star Green Star certification for two development assets
- Significant uplift in GRESB score for both PBSA Fund 1 (79%) and PBSA Fund 2 (84%)
Social Achievements
- 50% female participation in the workplace
- 20+ scholarships awarded to Indigenous and relocating students
- Implementation of various resident engagement programs (Residential Life Program, Project 100, Face to Face Catch ups)
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero emissions by 2050 (for some funds)
Medium-term Goals:
- Achieve net-zero emissions by 2050 (for some funds)
Short-term Goals:
- Refine goals, metrics, and targets to address material topics
Environmental Challenges
- Need to refine goals, metrics, and targets to address material topics more effectively
- Need to further develop decarbonization strategies for each fund
- Need to improve representation of women in executive leadership
Mitigation Strategies
- Onboarded Measurabl for ESG data management
- Engaging with experts to define decarbonization pathways
- Sponsoring Zhinus Etehad for the 500 Women in Property Program
Supply Chain Management
Responsible Procurement
- ESG and Modern Slavery considerations in procurement
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather
Transition Risks
- Regulatory changes, market shifts
Opportunities
- Development of energy-efficient products
Reporting Standards
Frameworks Used: TCFD, PRI, GRESB, Modern Slavery Act 2018 (Cth)
Certifications: NABERS, Green Star
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Opened two properties in Melbourne with 5-star GreenStar rating and net carbon-neutral operation.
- Secured first green loan on a Sydney development property.
- Achieved above 90% waste recycling on average from demolition at development sites.
- Procured 100% renewable energy contract with Iberdrola for two Melbourne assets.
Social Achievements
- Announced partnership with Queensland Treasury for an affordable housing Build-to-Rent project.
- Awarded over 30 scholarships.
- Implemented initiatives to enhance staff health and well-being.
- Increased community volunteering commitment.
Governance Achievements
- Appointment of a new Chief Investment Officer and Development Director.
- Implemented Modern Slavery screening on all new investments and contracts.
- Obtained almost perfect scores in the first year of Principles for Responsible Investment (PRI) reporting.
- Inclusion of ESG goals for all corporate senior roles.
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero emissions for 100% of assets by 2050.
Medium-term Goals:
- Achieve net-zero emissions for 75% of funds by 2030.
Short-term Goals:
- Achieve Climate Active certification by June 30, 2024.
- Reduce water usage by 5% by 2031.
- Reduce landfill waste by 20% by 2031.
Environmental Challenges
- Managing waste in student accommodation with annual student turnover.
- Achieving net-zero emissions across the portfolio.
Mitigation Strategies
- Continuous refinement of waste management programs focusing on behavioral change.
- Implementing energy efficiency measures, renewable energy procurement, and carbon offsetting.
Supply Chain Management
Responsible Procurement
- Modern Slavery Policy
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SASB, GRI, TCFD, UN SDGs
UN Sustainable Development Goals
- SDG 7 (Affordable and Clean Energy)
- SDG 13 (Climate Action)
- SDG 3 (Good Health and Well-being)
- SDG 11 (Sustainable Cities and Communities)
- SDG 16 (Peace, Justice and Strong Institutions)
Initiatives align with these goals through reducing carbon emissions, enhancing energy efficiency, supporting community engagement programs, and ethical governance.