PUBLIC DISCLOSURE STATEMENT - APN INDUSTRIA REIT ORGANISATION CERTIFICATION FY2020 -21 (PROJECTED)
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PUBLIC DISCLOSURE STATEMENT APN INDUSTRIA REIT ORGANISATION CERTIFICATION FY2020 -21 (PROJECTED) Organisation name here 1
CLIMATE ACTIVE Public Disclosure Statement
Australian Government
Climate Active
Public Disclosure Statement
NAME OF CERTIFIED ENTITY: APN Industria REIT
REPORTING PERIOD: 1July 2020-30 June 2021
Declaration
To the best of my knowledge, the information provided in this Public Disclosure Statement is true and
correct and meets the requirements of the Climate Active Carbon Neutral Standard.
2 August 2021
Date
Alex Abell
Name of Signatory
Fund Manager
Position of Signatory
Public Disclosure Statement documents are prepared by the submitting organisation. The material in Public Disclosure
Statement documents represents the views of the organisation and do not necessarily reflect the views of the Commonwealth.
The Commonwealth does not guarantee the accuracy of the contents of the Public Disclosure Statement documents and
disclaims liability for any loss arising from the use of the document for any purpose.
Version number February 2021
APN Industria REIT 2CLIMATE ACTIVE Public Disclosure Statement
1. CARBON NEUTRAL INFORMATION
Description of certification “Climate Active
This certification encompasses APN Industria REIT’s corporate provides a best-
activities and the emissions associated with those aspects of its
practice framework for
property portfolio that are under its operational control.
accounting for,
APN Industria REIT is a listed Australian Real Estate Investment Trust
reducing and
(ASX code: ADI), with APN Funds Management Limited acting as the
offsetting our
responsible entity and manager of this trust. APN Funds Management
Limited (ABN 60 080 674 479) is a wholly owned subsidiary of the emissions. Carbon
APN Property Group Limited (“APN”).
1
neutral certification
APN Industria REIT’s carbon neutral claims encompass all business demonstrates to our
operations described in the emissions boundary, including: stakeholders that we
• APN Industria REIT’s share of the APN’s head office committed to
emissions located in Melbourne, Victoria and, minimising our impact
• Emissions across APN Industria REIT’s property portfolio,
on the climate now,
where APN is the facility manager and is deemed to have
and into the future.”
operational control over the emissions generating activities.
This organisational carbon footprint for APN Industria REIT has been
developed in accordance with the Climate Active Standard for
Organisations.
Organisation description
APN Industria REIT (‘Industria') (ASX code: ADI) is a listed Australian real estate investment trust which
owns interests in office and industrial properties located across the major Australian cities. Industria is
governed by a majority Independent Board, and managed by Dexus (ASX:DXS), one of Australia’s leading
fully integrated real estate groups, with over 35 years of expertise in property investment, funds
management, asset management and development. As at 30 June 2021, APN Industria REIT had 6 full
time equivalent (FTE) staff working in the APN head office in Melbourne, Victoria, and 3.5 FTE working at
the Brisbane Technology Park (BTP) offices in Brisbane, QLD. These staff manage APN Industria REIT,
which for the FY20 reporting period owned interest in a portfolio of properties (valued at $1.05 billion2),
including commercial offices and industrial sites located across Australia (Sydney, Melbourne, Brisbane
and Adelaide).
1
APN Property Group Limited is a specialist real estate investment manager which has managed property investments
on behalf of its clients since 1996, including a significant part of the Industria portfolio for over eight years.
2
https://www.asx.com.au/asxpdf/20210507/pdf/44w988sl3bh06l.pdf
APN Industria REIT 3CLIMATE ACTIVE Public Disclosure Statement
2. EMISSION BOUNDARY
Diagram of the certification boundary
The reporting boundary for APN Industria REIT’s business operations has been developed in accordance
with the Climate Active Organisation Standard. The following steps were undertaken to develop this
reporting boundary and ensure it aligns with the Standard and stakeholder expectations:
• Identified a long list of potential emissions sources to be considered based on a desktop
assessment of APN Industria REIT’s FY20 asset list and activities.
• Undertook operational control testing for each of the 21 assets that APN is property or facilities
manager for, and the activities that occur at each asset. This testing showed that there are:
o 11 sites where APN Industria REIT has operational control over common area electricity,
refrigerants, waste and wastewater and transport fuel of APN employed facility
managers
o 2 sites where APN Industria REIT has operational control over refrigerants, waste and
wastewater.
• We completed detailed relevance testing across each of the identified Scope 3 emissions sources
in line with the requirements of the Climate Active Carbon Neutral Standard for Organisations.
The figure below summarises the relevant emissions sources (quantified and non-quantified) that are
included in APN Industria REIT’s Climate Active boundary, and those emissions sources that are
excluded.
Quantified
Non-quantified Excluded
APN Industria REIT corporate
emissions Transport fuel used by ICT services
Accommodation and facilities property managers
IT equipment
Air transport Freight, postage and
Electricity courier services
Real estate services Downstream leased
assets, including:
Food and catering
Paper • All emissions at
APN Industria
Waste REIT’s owned
Water assets that are not
under the
Taxi and uber organisation’s
operational control.
Land and sea transport (km, fuel)
APN Industria REIT property portfolio • Tenant controlled
emissions (where APN Industria REIT emissions at APN
has operational control) Industria REIT
managed assets.
Electricity
Refrigerants
Waste and Water
APN Industria REIT 4CLIMATE ACTIVE Public Disclosure Statement
Non-quantified sources
The following emissions sources were deemed relevant to APN “Climate Active
Industria REIT’s certification boundary, however have not been
certification signals
quantified as they are estimated to be below the materiality threshold
of 1% of the total carbon account (in accordance with the Climate to our staff and our
Active Standard), and in aggregate below 5% of total emissions.
investors that we
• The transport fuel used by APN Industria REIT property committed to
managers to visit assets.
sustainable
operations, and
Data management plan
we’re doing what we
N/A
can to reduce our
Excluded sources (outside of impacts.”
certification boundary)
APN Industria REIT undertook a detailed relevance assessment to determine the emissions reporting
boundary for this certification, in accordance with the relevance tests outlined in in Section 2.3.1 of the
Climate Active Organisations Standard.
The following sources were excluded based on the relevance assessment:
• ICT services
• IT equipment
• Freight, postage and courier services
• All emissions associated with sites that are owned by APN Industria REIT but are under the
management of third parties 3. This includes 11 assets in total.
• Tenant controlled emissions at APN managed sites, including those related to stationary
energy, refrigerants, electricity consumption, waste and wastewater management. This
includes 8 industrial site assets in total.
Appendix 1 provides the outcomes of the relevancy testing for these excluded sources.
3
These facility managers are Frasers and Burgess Rawson.
APN Industria REIT 5CLIMATE ACTIVE Public Disclosure Statement
3. EMISSIONS SUMMARY
Emissions reduction strategy
Since 2017, APN has been taking action to reduce emissions and enhance the energy efficiency across
the APN Industria REIT property portfolio. This has been predominantly through investments in solar
power generation – installing 2.5 MW across the portfolio – and LED lighting. In addition, in 2019 at the
Brisbane Technology Park office, APN Industria REIT elected to invest in a state-of-the art end-of-trip
facility, complete with bike storage space, changing facilities, toilets and showers. The fund made the end-
of-trip facility significantly larger than the current demand for it would dictate, even losing two car parks in
the process to allow for increasing numbers of staff to use these facilities and facilitating higher active
transport uptake rates.
APN Industria REIT’s emissions reduction strategy is divided into two key parts (1) corporate emissions at
the head office and Brisbane Technology Park workplace and (2) portfolio level emissions where APN is
the property or facilities manager and is deemed to have operational control over the emissions generating
activities.
Across corporate emissions, key emissions reduction actions include:
• Improve efficiency:
o Implementing control systems across offices to ensure that lights and devices
automatically switch off when unoccupied.
o Transitioning to energy efficient products in our offices (e.g. lights, white goods,
computer monitors, etc.).
o Undertaking behaviour campaigns to educate employees about reducing energy use
and waste production in the office and when working from home.
• Avoid emissions:
o Promoting the use of videoconferencing to reduce reliance on in-person meetings, which
helps to reduce air travel and other business travel related emissions.
o Enabling flexible working to allow staff to work from home or other locations which
reduces their travel needs.
o Encouraging and incentivising employees to commute to work using active transport
(e.g. cycling).
o Ensuring end-of-trip facilities at offices are accessible for all employees.
o Promoting the use of online filing and use of electronic files to reduce paper
consumption across the business.
Across portfolio level emissions:
• APN has been collaborating with Griffith University on various innovation and research projects,
including actions to reduce heat loads on the windows at the BTP properties. Heat loads on
glazing is a major issue in the built environment, and technology advancement and innovation in
this area has the potential to have widespread benefits for not just APN Industria REIT’s assets,
but all buildings. Reducing the impact of heat loads would improve building and air conditioning
APN Industria REIT 6CLIMATE ACTIVE Public Disclosure Statement
performance, decreasing CO2 emissions, whilst allowing tenants the ability to continue to enjoy
the natural light and vistas offered by windows.
• APN also actively encourages tenants to join us on our sustainability journey. One way we are
doing this is by engaging tenants at the most basic levels, which can often be overlooked as they
focus on the key areas of performance for their business. Examples include encouraging tenants
to install sensors that will cause lights to go out in parts of the property that aren’t being used, and
where possible operating energy intensive appliances on sunny days – benefiting from our solar
PV. These simple education initiatives have the impact of reducing energy consumption, GHG
emissions and operating costs.
• APN continues to look for opportunities promote energy efficiency across the portfolio via solar,
battery or LED installations, regardless of whether the asset falls within the fund’s emissions
boundary. Currently, the fund has proposals to undertake more than 1 MW of solar installations.
Emissions summary (inventory)
Table 2
Emission source category tonnes CO2-e
Food & catering 0.318
Office equipment hire and leasing 0.021
Printing and stationery 0.697
Real estate services 2.557
Water supply and wastewater treatment - South-East Queensland 4.171
International Accommodation: New Zealand 0.039
Domestic hotel 3 Stars 0.227
General waste 908.112
Train 0.414
Bus 0.181
Motorbike/scooter 0.060
Light rail and tram 0.020
Economy class Flights Short (between 400 km to 3700km) 13.267
Medium Car: unknown fuel 10.251
Total net electricity emissions (Location based) 1,134.060
2074.395
Total Net Emissions
APN Industria REIT 7CLIMATE ACTIVE Public Disclosure Statement
Uplift factors
Table 3
Reason for uplift factor tonnes CO2-e
103
5% to account for emission associated with refrigerant leakage
2,178
Total footprint to offset (uplift factors + net emissions)
Carbon neutral products
APN Industria REIT does not use any carbon neutral products at present.
Electricity summary
Electricity was calculated using a location-based approach.
Market-based approach summary
Market-based approach Activity Data Emissions Renewable
(kWh) (kgCO2e) %
Behind the meter consumption of electricity generated 0.0%
0 0
Total non-grid electricity 0 0.0%
0
LGC Purchased and retired (kWh) (including PPAs) 0.0%
0 0
GreenPower 0.0%
0 0
Jurisdictional renewables 0.0%
0 0
Residual Electricity 986,853 1,059,430 0.0%
Large Scale Renewable Energy Target (applied to grid 230,883 0 19.0%
electricity only)
Total grid electricity 1,217,736 1,059,430 19.0%
Total Electricity Consumed (grid + non grid) 1,217,736 1,059,430 19.0%
Electricity renewables 230,883 0
Residual Electricity 986,853 1,059,430
Exported on-site generated electricity 0 0
Emission Footprint (kgCO2e) 1,059,430
Emission Footprint (TCO2e) 1,059
LRET renewables 19.0%
Voluntary Renewable Electricity 0.0%
Total renewables 19.0%
Location-based approach summary
Activity Data Emissions
Location-based approach
(kWh) (kgCO2e)
ACT 0 0
NSW 0 0
SA 0 0
Vic 9,784 10,665
Qld 1,207,952 1,123,395
APN Industria REIT 8CLIMATE ACTIVE Public Disclosure Statement
NT 0 0
WA 0 0
Tas 0 0
Grid electricity (scope 2 and 3) 1,217,736 1,134,060
ACT 0 0
NSW 0 0
SA 0 0
Vic 0 0
Qld 0 0
NT 0 0
WA 0 0
Tas 0 0
Non-grid electricity (Behind the meter) 0 0
Total Electricity Consumed 1,217,736 1,134,060
Emission Footprint (TCO2e) 1,134
4. CARBON OFFSETS
Offsets strategy
This is APN Industria REIT’s first year of carbon neutral certification and we have applied the forward
purchasing approach for purchasing and retiring offsets. Offsets have been purchased to ensure we are
carbon neutral for the FY21 period 1 July 2020 to 30 June 2021, using our base year (FY20) emissions
inventory.
As we are estimating our emissions in this first reporting period, for our next reporting period, we will seek
to conduct a true-up process and ensure that a reconciliation of actual GHG emissions is undertaken, to
ensure that a sufficient quantity of offsets have been retired.
Offset purchasing strategy: Forward purchasing
1. Total offsets previously Zero
forward purchased and
banked for this report
2. Total emissions liability to 2,178
offset for this report
3. Net offset balance for this 2,178
reporting period
4. Total offsets to be forward Zero
purchased to offset the next
reporting period
5. Total offsets required for this 2,178
report
APN Industria REIT 9CLIMATE ACTIVE Public Disclosure Statement Co-benefits This section provides a brief description of the carbon offset projects purchased and retired for APN Industria REIT’s FY21 carbon neutral claim. Katingan Mentaya Peatland Conservation Project This project relates to 46% of the total amount of offsets purchased and retired for this reporting period. This Indonesian-based project protects vital peatland habitats in Central Kalimantan, Indonesia for five Critically Endangered, eight Endangered and 31 Vulnerable species. In partnership with local communities, Katingan utilise’s carbon revenues to ensure natural forest restoration and protection, through activities aligned to the UN Sustainable Development Goals. The protected area is home to between 5 and 10% of the global populations of the Bornean Orangutan, Proboscis Monkey and Southern Bornean Gibbon. Link: https://registry.verra.org/myModule/rpt/myrpt.asp?r=206&h=133522 Abuja Clean Cookstoves Project This project represents 31% of the total amount of offsets purchased and retired for this reporting period. The project involves manufacturing and distribution of efficient charcoal cookstoves that would replace the inefficient cookstoves currently being used in the host country of Nigeria. Link: https://registry.goldstandard.org/credit-blocks/details/186959 Solar project in India This project represents 23% of the total amount of offsets purchased and retired for this reporting period. The project involves installation of 216 MWac (corresponding 261 MWp) solar power project in Tamil Nadu. Link: https://registry.verra.org/myModule/rpt/myrpt.asp?r=206&h=131901 APN Industria REIT 10
CLIMATE ACTIVE Public Disclosure Statement
Offsets summary
Proof of cancellation of offset units
Offsets cancelled for Climate Active Carbon Neutral Certification
Project Type of Registry Date Serial number (and Vintage Eligible Quantity Quantity Quantity Percentage
description offset retired hyperlink to registry Quantity used for banked for used for of total (%)
units transaction record) (TCO2-e) previous future this
reporting reporting reporting
periods periods period
claim
Katingan VCUs VCS 30 6358-302979060- 2016 1000 0 0 1000 46%
Mentaya Registry June 302980059-VCU-016-APX-
Peatland 2021 ID-14-1477-01112015-
Conservation 31122016-1
Project
Abuja Clean VERs Gold 30 GS1-1-NG-GS7312-16- 2017 678 0 0 678 31%
Cookstoves Standard June 2017-19737-142001-
Project 2021 142678
Solar Power in VCUs VCS 01 July 6883-356282149- 2017 500 0 0 500 23%
India Registry 2021 356282648-VCU-034-APX-
IN-1-1768-01012017-
31122017-0
Total offsets retired this report and used in this report 2178
Total offsets retired this report and banked for future reports 0
Type of offset units Quantity (used for this reporting period claim) Percentage of Total
Verified Carbon Units (VCUs) 1500 69%
Verified emissions reduction 678 31%
APN Industria REIT 11CLIMATE ACTIVE Public Disclosure Statement
5. USE OF TRADE MARK
Table 8
Description where trademark used Logo type
Annual sustainability report Certified organisation
Annual report Certified organisation
APN Industria REIT Australian Website Certified organisation
Social media sites including LinkedIn, Instagram, Twitter Certified organisation
Email signature Certified organisation
Other marketing materials (printed, newsletters, online
Certified organisation
communications)
6. ADDITIONAL INFORMATION
In addition to the carbon benefits associated with the offset projects detailed in Section 4, APN Industria
REIT also purchased and cancelled (otherwise known as stapled) an additional 500 Biodiverse
Reforestation Carbon Offsets (BRCO) that supports the Yarra Yarra Biodiverse Reforestation Project.
These are stapled to the VCUS from the solar farm in India.
The project aims to link small patches of remnant vegetation and nature reserves in the Yarra Yarra
Biodiversity Corridor. Through planting species indigenous to the region the revegetation project
encourages the reintroduction of endangered species and combats desertification in this biodiverse
hotspot.
Co-benefits include employment and training opportunities for local people, contribution to local business
and positive engagement with indigenous communities.
Link: https://carbonneutral.com.au/product/biodiverse-reforestation-carbon-offsets/
APN Industria REIT 12CLIMATE ACTIVE Public Disclosure Statement
APPENDIX 1
Excluded emissions
The Climate Active standard states that any Scope 3 emissions sources that are deemed to be ‘relevant’
must be included in the emissions boundary. To be deemed ‘relevant’, an emissions source must meet at
least two of five relevance criteria (size, influence, risk, stakeholder expectations and outsourcing).
The table below details all sources that have been deemed not relevant, and hence are excluded from
APN Industria REIT’s Climate Active reporting boundary.
Relevance test
Excluded The emissions The emissions Key The The emissions
emission from a from a stakeholders responsible are from
sources particular particular deem the entity has the outsourced
source are source emissions potential to activities
likely to be contribute from a influence the previously
large relative to the particular reduction of undertaken
to the organisation’s source are emissions within the
organisation’s greenhouse relevant. from a organisation’s
electricity, gas risk particular boundary,
stationary exposure. source. or from
energy and outsourced
fuel emissions activities
typically
undertaken
within the
boundary for
comparable
organisations.
ICT services No No No No No
IT equipment No No No No No
Freight, postage No No No No No
and courier
services
Downstream Yes No No No No
leased assets
where APN
Industria REIT
does not have
operational
control
APN Industria REIT 13CLIMATE ACTIVE Public Disclosure Statement
APPENDIX 2
Non-quantified emissions for organisations
Non-quantification test
Relevant-non- Immaterial Quantification is Data unavailable Initial emissions
quantifiedCLIMATE ACTIVE Public Disclosure Statement APN Industria REIT 15
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