Mirvac

Mirvac: Carbon Emissions and Climate Commitments

Mirvac, a leading real estate services company based in Australia, is actively engaged in reducing its environmental impact. While specific total emissions figures for all scopes are not consistently available across all reporting years, the company has disclosed significant Scope 1 emissions and is committed to ambitious climate targets.

Emissions Data:

For the financial year 2024, Mirvac reported approximately 10.71 million kg CO2e of Scope 1 emissions. In the preceding year, FY2023, Scope 1 emissions were approximately 9.63 million kg CO2e. In FY2022, Scope 1 emissions were around 7.13 million kg CO2e. Prior to this, in FY2021, Mirvac's Scope 1 emissions were approximately 6.34 million kg CO2e, with an additional 12.66 million kg CO2e from Scope 2 (market-based). In FY2020, Scope 1 emissions were approximately 7.46 million kg CO2e, and Scope 2 emissions were approximately 44.53 million kg CO2e.

For FY2019, Mirvac reported total emissions of approximately 102.33 million kg CO2e, comprising about 6.62 million kg CO2e from Scope 1, approximately 78.04 million kg CO2e from Scope 2, and approximately 22.60 million kg CO2e from Scope 3. In FY2018, total emissions were around 102.13 million kg CO2e, with Scope 1 emissions at approximately 6.83 million kg CO2e, Scope 2 at approximately 73.77 million kg CO2e, and Scope 3 at approximately 21.53 million kg CO2e. In FY2017, total emissions stood at approximately 107.42 million kg CO2e, with Scope 1 emissions at about 4.64 million kg CO2e, Scope 2 at approximately 79.15 million kg CO2e, and Scope 3 at approximately 23.63 million kg CO2e. For FY2014, total emissions were approximately 108.68 million kg CO2e, with Scope 1 emissions at about 11.44 million kg CO2e, Scope 2 at approximately 69.20 million kg CO2e, and Scope 3 at approximately 28.03 million kg CO2e.

Climate Commitments and Targets:

Mirvac has set several ambitious targets to reduce its environmental impact:

• Net Zero Waste: The company aims to send zero waste to landfill by 2030.
• Net Positive Scope 3 Emissions: Mirvac has set a target to be net positive for its Scope 3 emissions by 2030 and has released a plan to achieve this.
• Science-Based Targets: Mirvac has committed to the Science Based Targets initiative (SBTi). Their near-term targets include a reduction of 83.6% in absolute Scope 1 and 2 greenhouse gas emissions by FY2030 from an FY2019 base year. They also aim to reduce Scope 3 emissions from capital goods, use of sold products, and downstream leased assets by 55% per square metre by FY2030. These targets are consistent with reductions required to keep warming to 1.5°C.

Mirvac's approach to climate action demonstrates a clear commitment to environmental sustainability within the real estate sector.