Achieving net zero emissions prior to 2050 is a key element of the Paris Climate Agreement to limit global temperature rise to well below 2 degrees Celsius above pre-industrial levels and to strive for 1.5 degrees.
This report examines influential companies within the Australian property sector and those with the highest reported emissions. It includes the property companies listed in the ASX200 and those required to report their emissions under the National Greenhouse and Energy Reporting Act 2007 (NGER Act).
Our analysis finds 43% of these companies have a net zero target or aspiration, of which:
- 29% have pledged to achieve net zero emissions by 2050 for their owned and managed assets. These companies represent 36% of total ASX200 property sector market capitalisation.
- 14% have made climate commitments that align with a pathway to achieve net zero emissions by 2050 but have not yet explicitly pledged to achieve this goal.
There remains significant opportunity in the property sector for companies to strengthen their commitments to align with net zero emissions by 2050. None of the property companies examined have targets that address all of their emissions, and 9.5% have not announced any emissions reduction commitments or activities.