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The real estate advertising giant has revealed a new commitment to becoming a carbon-neutral company — effective this financial year.
REA Group’s announcement forms part of the launch of its first climate change policy, and coincides with the release of its FY20 Sustainability Report.
According to a statement from REA, carbon neutrality will be achieved through introducing initiatives that directly reduce emissions and offsetting 100 per cent of the remaining carbon footprint.
The carbon emissions reduction action plan covers electricity consumption, energy efficiency, business flights, employee commuting and car fuel.
It follows a detailed analysis to establish the group’s first carbon footprint and science-based aligned targets in line with the goals of the Paris Agreement.
REA said it is already working towards obtaining carbon-neutral certification of its FY20 footprint, which will be deliverable in Q3 FY21.
REA Group CEO Owen Wilson said REA’s sustainability program focuses on environmental, social and governance pillars, with the aim of putting the organisation, and its customers, “in the best position to succeed in a low-carbon future”.
He emphasised climate change as a major global issue presenting “very real risks and opportunities”.
“The construction and operation of residential and commercial buildings has a significant impact on global carbon emissions,” he acknowledged.
The CEO said REA is “committed to understanding how the property sector can mitigate the risks of climate change and leverage opportunities to help our customers and consumers make smart, sustainable property decisions”.
Calling the organisation’s commitment to achieving net zero emissions “a promising start”, Mr Owen said: “We look forward to continually improving our sustainability performance and playing our part in creating positive change in the industry, community and the environment in which we operate.”
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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