The GPT Group announced that 8 Exhibition Street has achieved Carbon Neutral Building Certification in December 2020, under the combined NABERS and Climate Active certification pathway, and in alignment with the international Greenhouse Gas Protocol.
Located in the centre of one of Melbourne's most dynamic, vibrant and creative precincts, the asset adds to the Group’s list of office buildings that has achieved the unified Carbon Neutral Certification at the end of 2020, as part of GPT’s Energy Master Plan across the portfolio the GPT Wholesale Office Fund (GWOF).
GWOF’s zero carbon target was not only about reducing emissions across the property sector, but also about offering great benefits for tenants. Energy efficient buildings that achieve high NABERS ratings like 8 Exhibition Street (5.5 star unassisted / 6 star with Green Power), have lower operational costs and provide a contribution to tenants’ own carbon reduction targets.
To achieve the certification, GPT’s approach focused on energy efficiency, utilising a combination of both on-site and off-site 100 per cent renewable electricity combined with a demand response program to manage electricity loads within the buildings.
We also conducted LED light and air conditioning upgrades to optimise energy efficiencies. These initiatives also reduce pressure on the electricity grid, reducing the peak demand charges for a building.
Where emissions from waste, gas and water services are not able to be reduced further, offsets are purchased from Greenfleet, a not-for-profit environmental organisation committed to protecting the climate through forest restorations that sequester carbon while improving wildlife habitat and water quality.
The approach continues to be implemented across the remainder of The GPT Group’s portfolio to reach the Carbon Neutral targets.