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The Westfield Developers Limited Sustainability Program

Tangible effects of sustainable properties to the property value still have to materialize in the real estate markets. But it is a fact that regulatory requirements and the changing market demand will force real estate owners to improve their products.

The Westfield Developers Limited Sustainability Program is affecting our real estate business as a whole. It helps to create a necessary baseline to implement the right changes in the right properties. By setting its main focus on environmental factors like the energy consumption and embedded carbon emission, Westfield Developers Limited will also help to reduce operating cost for our tenants.

Westfield Developers Limited Sustainability Program sets its focus on our core processes but also creates the necessary baseline and standards to assess the current performance. The main activities are:

TRANSPARENCY

  • Introduce common metrics for real estate sustainability
  • Assess and measure the current sustainability status of our real estate portfolio in a standardized way
  • Include sustainability in our reporting

    • INVESTMENT MANAGEMENT

  • Include sustainability criteria in the decision making process
  • Check the sustainability performance for new real estate investments within the acquisition process
  • Include energy efficiency in the due diligence process
  • Mandatory green building certification for new or refurbished assets

    • ASSET MANAGEMENT

  • Improve communication between Westfield Developers Limited and tenants to increase sustainability performance
  • Include asset-specific sustainability strategies into business plans
  • Include energy efficiency into target setting with property and facility managers
  • Assess individual assets' sustainability status using the Green Rating method

    • PROPERTY MANAGEMENT

  • Measure, collect and report building information according to sustainability metrics
  • Implement specific abatement measures into property planning
  • Suggest measures to further optimize buildings' performance in terms of sustainability proactively