Charter Hall, the country’s largest property fund manager, has also boosted its net zero emissions policy, signing a Power Purchase Agreement (PPA) with global renewal energy giant ENGIE Australia & New Zealand, to supply 100 per cent electricity from renewable sources across its portfolios, over seven years.

The PPA provides for the procurement of 151GWh of renewable energy per annum from state-based wind and solar renewable energy projects. This is the equivalent of powering about 26,000 average homes with renewable electricity each year.

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Charter Hall chief executive David Harrison said Charter Hall was leveraging its platform-wide scale, and ENGIE’s renewable power had the capacity to unlock value and secure competitively priced, renewable electricity.

“Not only will this PPA reduce Charter Hall’s carbon emissions by 70 per cent when the partnership becomes active in 2024, it will also ensure we remain on track to reach net zero carbon in operation (Scope 1 and 2), on or before 2030,” Harrison said.

ENGIE Australia & New Zealand chief executive Andrew Hyland added that innovative, long-term agreements such as this PPA with Charter Hall “also support investment in new, renewable energy capacity, which is a priority for ENGIE”.

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