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HMC Capital gets real on net-zero with impact themed 3-step approach
Listed property group HMC Capital (ASX:HMC) is making good on its environmental, social and governance commitments with a dedicated plan to achieve net zero for its suite of investment verticals.
Eighteen months ago, the fund started by former US banker David Di Pilla announced its target to achieve net-zero for scope 1 and scope 2 emissions by FY28. Alongside this came an energy road map and the first phase of its ‘Energy Management System’, which was subsequently rolled out across 18 sites.
Those sites, which include the old Woolworths Masters portfolio of real assets that Di Pilla turned into a retail property giant, have now achieved a 27 per cent reduction in energy consumption.
In an insight piece released online, the group’s sustainability manager Holly Bradley (pictured) and group chief operating officer Sid Sharma explained the ethos behind the sustainability directive.
The campaign is about creating “healthy communities”, Sharma said, which HMC is doing by driving change across six “impact themes” including alignment and accountability, connection, respect, climate action and building towards a green future.
“These themes encompassed the environmental, social and governance topics our materiality process showed were of the greatest importance to our stakeholders,” Sharma added.
Bradley spoke of the “very clear” roadmap HMC has developed to net-zero, which involved a 3-phase approach.
“Phase 1 is right-sizing consumption on our assets through a state-of-the-art energy management system across all feasible sites,” she explained, referring to the group’s collection of real assets.
“The system uses the latest AI technology to create a smart energy system that can adjust energy consumption in real time according to internal and external environmental changes,” she continued. “We are confident and excited about these milestone steps in reducing consumption.”
Phase 2, Bradley explained, is scoping right-sized energy generation solutions, which involves finding out which sites are applicable for solar energy and to which degree.
“Finally, phase 3 is reviewing appropriate energy storage solutions once we understand the energy consumption and generation from our assets. We’re at the very early stages of this phase and continue to review the ever-changing technology to ensure we align with the correct solutions,” she said.
