GPT procures green power across office assets

Thursday, 26 April, 2007

The GPT Group, including the GPT Wholesale Office Fund (GWOF), has procured 20 Gigawatthours per annum of new Accredited Green Power for 92% of its office portfolio weighted by floor area.

The group has committed to purchasing 25% of its energy demand from renewable energy projects such as wind and biomass for 92% of its office portfolio in NSW, VIC and QLD. This 25% equates to abating approximately 23,000 tonnes of CO2 per annum, which is equivalent to taking more than 5300 cars off the road for a year.

This initiative fits the group's office corporate responsibility strategy to reduce the overall consumption of energy, water and waste and to move towards a carbon neutral position.

Tony Cope, head of office, states, "In addition to our portfolio-wide strategy to reduce energy consumption, we believe that procuring such a large quantity of new Australian Green Power will give our properties a point of difference, further improve our Australian Building Greenhouse Ratings and be more attractive to tenants. We hope that our move will encourage further take-up of Green Power by the property industry and stimulate the renewable energy sector."

The three-year contract, commencing this year, has been awarded to Origin Energy, whose green energy products have been ranked as the top performers in the Australian renewable market by the Green Electricity Watch Survey 2006 (endorsed by the Total Environment Centre (TEC), the Australian Conservation Foundation (ACF) and World Wildlife Fund (WWF).

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