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We are committed to reducing the impacts on our environment and doing our bit to tackle climate change. We want to create a culture where sustainability is a part of what we do – for our people, our stakeholders and for our community.
 

Our Sustainability Focus

Our focus is one centred on creating an organisation that cares for the environment – we want to cultivate an organisation that operates sustainably and responsibly with regard to the environment, our customers, employees, key stakeholders, investors and the broader community.

We are committed to reducing our environmental impacts, both in our operations and in our supply chains. We have set ourselves ambitious targets for climate action, with the objective of reducing our greenhouse gas emissions, eventually allowing us to operate as a Net Zero business.

                   

We are committed to supporting the Paris Agreement and limiting global temperature increase to 1.5°C above pre-industrial levels	Our Net Zero Action Plan supported by our sustainability commitments will accelerate decarbonisation of our business and supply chain	Our near-term emission reduction targets aim to allow us to operate as a Net Zero organisation and will assist the goals of the Paris Agreement

 

We understand that the built environment has a significant environmental impact and that environmentally friendly buildings are better for the planet. In our journey toward operating as a truly sustainable business, we have taken big steps to reduce our reliance on fossil fuels. For our Sydney office, we have made sure that we source 100% of our tenancy’s electricity from renewable sources, and we maintain a NABERS Energy Rating of 6 stars.  NABERS is a simple, reliable sustainability rating for buildings, helping us understand our building’s performance versus other similar buildings.

 

NSW LRS’ Net Zero Action Plan

We are moving forward toward our goal of operating as a Net Zero business. Guided by our Net Zero Action Plan we have put in place clear milestones to reduce the emissions associated with our business’ operations and in our supply chains. 

NSW LRS’ action plan includes a comprehensive inventory of our emissions, recognised targets and clear objectives to reducing operational emissions, being efficient with resource use and creating a sustainable workplace.

 

Our initiatives and objectives to get us there

Renewable energy purchase Through the purchase of green energy for our office we can significantly reduce our emissions

 

Creating energy efficient behaviours Through the purchase of green energy for our office we can significantly reduce our emissions

 

Reducing our waste and landfill Cutting down on the amount of waste we produce will help us become a truly sustainable workplace

 

Minimising our transport emissions Use of sustainable modes of transport will help us reduce our scope 3 emissions

 

Maturing our carbon management Ensuring strong leadership and embedding our targets will drive significant and sustainable change

 

Improving our supplier engagement Engaging with our supply chains will build awareness facilitate supply chain emission reductions

 

 

Our ambitious short-term targets

We understand that there is urgency in taking action, and so we have made a strong commitment to reducing our operational emissions in an ambitious timeframe.

LRS has established a Sustainability Linked Loan (SLL) that embeds our environmental, social and governance ambitions – and includes a set of clear targets for the reduction of our operational (scope 1 + 2) emissions through to 2026.

Ensuring that our approach to reducing our environmental footprint is holistic, we have also established targets to reduce our supply chain (scope 3) emissions.
 

	2022	2023	2024	2025	2026
Scope 1 + 2	≥20% reduction against our 2021 baseline	≥40% reduction against our 2021 baseline	≥60% reduction against our 2021 baseline	≥80% reduction against our 2021 baseline	100% reduction against our 2021 baseline
Scope 3	Measurement of our scope 3 emissions	Establish scope 3 reduction targets	≥5% reduction on 2023	≥5% reduction on 2024	≥5% reduction on 2025

Read more about our Sustainability Linked Loan here
 

 

Our near-term science based target

We’re proving our commitment to building a sustainable future, by letting the science dictate our course of action. 

The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). It defines and promotes best practice in science-based target setting and independently assesses companies’ targets.

In 2022, we set an approved science-based target proving our commitment to building a sustainable economy, by doing not what is easy but what is necessary. Our target is to reduce our scope 1 and scope 2 emissions by 42% by 2030 from a 2020 base year, and to measure and reduce our scope 3 emissions. 

NSW LRS is proud to have set a science-based target, positioning us as leaders in the low-carbon transition.

 

Read NSW LRS’ Environmental Management Policy here