REA Group has announced it is now a carbon neutral organisation after completing the Climate Active certification process for its FY20 carbon footprint.
REA’s carbon neutrality was achieved with the introduction of initiatives that directly reduce emissions across the business and by offsetting 100% of the remaining carbon footprint.
This year, REA has invested in carbon offset reforestation, renewable energy and energy efficiency projects in Australia and India.
In addition, REA has also improved its MSCI Environmental Social and Governance (ESG) rating from a BBB to an A. MSCI ratings measure a company’s resilience to long-term, industry related ESG risks.
REA Group Chief Executive Officer, Owen Wilson stated climate change is a critical issue and believes businesses can lead the way to effect positive change.
“REA Group’s improved MSCI sustainability rating and our Climate Active carbon neutral certification demonstrate the action we’re taking to mitigate the effects of climate change,” Owen said.
“As an organisation, we are taking action to reduce and offset as much carbon from the atmosphere as we are responsible for creating. We are also working to understand more about how the broader property industry can make the best sustainable decisions, and we are committed to working with our customers to help our industry play its part.”
REA announced its commitment to become carbon neutral alongside the release of its first Climate Change Policy and its second Sustainability Report in October 2020. This followed a detailed analysis to establish the Group’s first carbon footprint and science-based aligned targets in line with the goals of the Paris Agreement.