Cromwell's 2018 sustainability performance
The 2018 Sustainability Report, detailing Cromwell’s sustainability framework, targets and performance has now been released.
A decade of reporting
Cromwell’s Sustainability Report is in its tenth edition, with the first report being produced in 2009, well before sustainability was mainstream. One of the key statements from that year’s CEO Letter was that:
‘The principles of sustainability are an integral part of Cromwell’s business. Our existing and potential tenants want it addressed when considering space requirements; our securityholders and investors want to know our business is ethical and economically responsible; and our employees want to work for a business with a conscience.’
There has been a lot of water under the bridge in the prevailing ten years but the sentiment, and Cromwell’s commitment to it, rings as true now as it did then.
Commitment to carbon neutral operations by 2022
Cromwell is committed to minimising the environmental impact of the properties it owns and manages, its funds under management and business operations. As such, Cromwell has committed to carbon neutral business operations by 2022.
Cromwell recently engaged Pangolin Associates to undertake a Greenhouse Gas (GHG) Assessment on its Australian-based operations, measuring operational emissions from office electricity, waste, paper, catering, all the way through to conducting an employee commute survey. Based on this assessment, Cromwell has offset the emissions for all Australian operations together with global air travel, a significant 2,348.2 tCO2-e. This is the equivalent of removing 572 cars from the road per year.
Many carbon offset projects deliver a range of positive outcomes in addition to emissions reductions. By purchasing offset units, we can support social, environmental and economic outcomes.
Environmental benefits include supporting the maintenance of habitat for native animal and plant species, avoiding clearing of vegetation and re-establishing vegetation on previously cleared areas.
Social benefits include employment for local people through managing the project, reduced social welfare, as well as providing health and educational improvements.
Economic benefits arise from the income generated from the sale of offset credits. This income is delivered to the communities in which the project is located.
During FY19 Cromwell plans to undertake a GHG Assessment for its global business operations, offsetting the footprint through the Qantas Future Planet initiative and seeking certification under the Australian Government National Carbon Offsetting Standard (NCOS).
Qantas Future Planet Partnership
Cromwell is in its second year as a Qantas Future Planet Partner and supports four carbon offset projects.
Revive the Reef Colodan
Located between Gladstone and Bundaberg in Queensland, the Colodan Native Forest Project will regenerate nearly 3,000 hectares of natural woodland, including the endangered Brigalow Forest, and will protect around 500 hectares of established native forest. Sustainable management of the property is improving soil health and water retention, helping to reduce erosion and run-off within the Burnett catchment.
Conserving Tasmania’s Wilderness
Tasmania is home to one of the world’s last great tracts of temperate rainforest. This carbon offset project protects over 7,000 hectares of native forest that would otherwise continue to undergo selective logging or clearing for pasture.
The New Lao Stove Project in Cambodia has introduced a more efficient cook stove that reduces pollution by 22%. It has also led to the development of a commercialised supply chain which has created employment for more than 300 people.
Winds of Change
Located in various sites across Tamil Nadu, India, these wind farms avoid greenhouse gas emissions by introducing clean power to the Tamil Nadu Electricity Board, which would otherwise be generated by a fossil fuel-fired power plant.
For more information on these projects, please visit: www.qantasfutureplanet.com.au/#projects