As part of its Planet Positive plan, Australian property group Mirvac has outlined its intentions to become carbon neutral by 2030.

In a media release the group states it expects to achieve and exceed net zero emissions while also increasing its investment portfolio.

The key steps Mirvac will take to reduce carbon emissions include continuing to maximise energy efficiency and developing all-electric buildings powered by 100 per cent renewable energy.

“Human-induced climate change is a significant threat to our planet, and as a key player in the built environment industry, which contributes a quarter of Australia’s carbon emissions, we have a responsibility to eliminate more carbon than we emit,” Mirvac Group general manager for sustainability and reputation Sarah Clarke says.

“This work will mean that from 2030 and each year afterwards, Mirvac will be avoiding emissions equivalent to planting over 1.4 million trees and taking 22,300 cars off the road.”

Clarke adds that as well as minimising the group’s environmental impact, reaching net positive carbon also makes good business sense.

“Being a force for good doesn’t need to come at the expense of commercial sustainability. By transitioning our portfolio sooner rather than later, we’ll benefit from energy price certainty and create greater value for our stakeholders. And with low carbon building policy reforms on the horizon, we’ll also be ahead of the curve when it comes to compliance,” she says.

“But more than that, reducing, and ultimately, eliminating our carbon emissions, is the right thing to do.”

Mirvac laid out its target to be net positive by 2030 in 2014 and reaffirmed the target when it released a refresh of its strategy in June last year. The groups says it has reduced its carbon intensity by 21 per cent since FY13 through energy efficiency leadership, which has been recognised through three 6 Star and two 5.5 Star NABERS Energy ratings.

Image credit: Samuel Zeller