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.
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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. |
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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.
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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