EPA Victoria and The GPT Group signed a sustainability covenant on 26 February 2008, formalising their commitment to work together to reduce impacts of the property sector, both associated with the inputs into the built assets themselves, the construction process and the operational activities of its occupiers.
The parties agree to work together to:
- reduce the ecological impact of GPT’s Australian assets and operations
- increase knowledge of the Ecological Footprint in GPT and its supply chain and GPT’s capacity to respond in material ways.
- work towards setting a credible and achievable long-term ecological footprint reduction target and stretch target to be achieved by 2020 as measured against a 2008 baseline.
This sustainability covenant is a voluntary, three-year statutory agreement under section 49AA of the Environment Protection Act 1970.
Listed on the Australian Stock Exchange since 1971, the GPT Group is today one of Australia’s largest diversified listed property groups, with total assets of $14 billion. GPT has a substantial investor base and GPT securities are owned by over 45,000 security-holders, including large Australian and overseas institutions.
GPT’s investment portfolio includes retail, office, hotel/tourism, and industrial/business park sectors. GPT recognises the interests of its stakeholders and is committed to behaving ethically and operating in a sustainable manner that enhances economic, societal and environmental values, which is an essential consideration to ensure its long-term sustainability.
Public reports of the covenant progress will be published on the EPA and GPT websites.
The Authority authorises the copying of all or any part of the covenant by any person who wishes to do so and also authorises the use by such a person of any copies made by the person.
To learn more about how GPT is applying ecological footprint in its business; see EPA’ case study
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