The Group continues to monitor its environmental impact as part of normal business operations, as the efficient use of environmental resources such as energy and water, contributes to the efficiency and long-term sustainability of the company.
Through an annual greenhouse gas audit first undertaken in 2006, Westfield has been able to increasingly identify, manage and reduce its key environmental impacts. As a vertically integrated company which funds, designs, constructs and redevelops the assets it operates, Westfield incorporates an environmental perspective into decision-making at every stage – from concept design through to ongoing operations and management.
The Group’s environmental focus areas are energy use, greenhouse gas (‘GHG’) emissions, water usage and waste. Westfield has publicly reported energy use and GHG emissions for several years through the Carbon Disclosure Project and other reports. In 2011 the Group also began external reporting of water consumption and waste disposal data in the Sustainability Report – with data for all operating markets included in the 2012 Report.
Reporting approach
Westfield reports on its environmental performance indicators using the same time period as for its financial statements, being 1 January to 31 December. For selected indicators, the Global Reporting Initiative G3.1 Construction and Real Estate Sector Supplement (GRI G3.1 CRESS) definitions have been applied.
The reporting boundary comprises all operations where Westfield has had operational control for more than six months of the reporting year and sufficient reporting systems in place. This now includes waste and water data for the United States which is available as from this year. Tenant environmental impacts are excluded as they are not under Westfield’s operational control.
The energy use and GHG emissions information is derived from our Global GHG Inventory, which is prepared annually in accordance with ISO 14064 – Greenhouse gases, Part 1: Specification with guidance at the organisation level for quantification and reporting of greenhouse gas emissions and removals. Westfield is committed to maintaining global best practice for the measurement, calculation and reporting of its GHG inventory. Each year the standards and methodologies are reviewed against any developments in local reporting obligations or GHG standards and guidance and adjustments are made as required.
