group of industries, including transportation and agriculture, but has failed to acknowledge a major greenhouse gas emitter in the economy.
Commercial property, not including construction and demolition, account for 20 per cent of New Zealand’s carbon footprint, according to a property fund manager who called on commercial landlords to do more in the drive towards a sustainable future. PMG Funds chief executive Scott McKenzie pointed out that big listed property firms, which have publicly declared their environmental, social and governance (ESG) responsibilities, only hold 10 per cent of the commercial property stock, while the unlisted sector or private property owners hold the remaining 90 per cent.
According to McKenzie, PMG Funds have launched several initiatives to lead this latter segment of the industry in limiting its environmental impact. “We’re committed to environmental sustainability, and our goal is to take action and lead the unlisted sector, and other landlords, to reduce our impact on the environment,” he said.
Signing up to Toitū Envirocare, the environmental health service in Auckland and implementing recycling practices which had diverted 200 tonnes of waste, are among the initiatives launched by the firm, which is also working with contractors on managing their waste. It is also working with tenants to assist them in implementing sustainability initiatives they desire, including the installation of LED lighting and the provision of energy efficient bathroom facilities. Such measures have helped reduce maintenance and operating costs, supported a healthier workforce and added value to buildings, according to McKenzie.
