Lendlease Annual Report 2024

36 Lendlease Annual Report 2024 Decarbonisation challenges and insights We want to play our part to accelerate the pace and scale of decarbonisation in our sector but acknowledge much of our ambition is outside our direct control. Industry transformation will require advocacy and collaboration across the whole property value chain. Fossil Fuel Free Construction Eliminating the use of fossil fuels in construction is an essential step in tackling climate change and reaching our Mission Zero targets. On the Watermans Residences tower at One Sydney Harbour, we deployed electric construction plant and equipment and analysed the implications of switching from diesel to electric concrete pumping. We shared our findings in The Electric Edge report, published in conjunction with University of Queensland. Electric concrete pumps showed compelling energy, carbon, and cost advantages over diesel concrete pumping. By sharing this analysis with the broader industry, we hope to support the transition towards Fossil Fuel Free Construction. Industry advocacy We continued to advocate for a Low Carbon Liquid Fuels (LCLF) Policy to support the establishment of a robust domestic renewable diesel industry for Australia. We provided submissions to Federal Government consultation on their proposed renewable diesel fuel standard, presented at Bioenergy Australia’s Renewable Fuels Week, and actively supported the creation of the Australian Constructors Association’s renewable diesel position paper. We have been pleased to see recent statements from the Federal Government reflect a shift towards supporting a LCLF industry in Australia. Collaborative partnerships Embodied carbon emissions from building materials such as steel, cement, aluminium and glass represent a significant portion of our Scope 3 emissions. Decarbonising these harder- to-abate materials is challenging but we are capturing opportunities to reduce embodied carbon through collaboration with our supply chain partners, motivated clients and aligned capital partners. In Australia, we partnered with Boral Cement and De Martin & Gasparini to create a lower carbon concrete mix for the Sydney Metro Martin Place Station project. Replacing approximately 50 per cent of Ordinary Portland Cement with lower carbon supplementary cementitious materials is anticipated to result in an estimated 38 per cent reduction in embodied carbon emissions. 1 In Singapore, we are partnering with Singtel to redevelop its Comcentre headquarters into a world class sustainable workplace. We are collaborating with supply chain partners to deliver Singtel’s ambitious vision to be Singapore’s first end-to-end carbon neutral development from design and construction to operations. Lendlease and Daiwa House are global joint venture partners and have aligned sustainability and innovation objectives to reduce the embodied carbon footprint of a residential for sale development scheme at Elephant Park in London, through initiatives such as Saint-Gobain Glass’s ORAE low embodied carbon glass. We estimate a 75 tCO2-eq saving in embodied carbon by using ORAE glass on the project, providing a replicable model for deployment on future projects. Sustainability leadership in real estate We continue to be recognised as a leading creator and manager of sustainable real estate. GRESB In the 2023 GRESB Real Estate Assessment, our Investments portfolio received 12 Global and 14 Regional Sector Leaders awards. NABERS Barangaroo International Towers received the highest result for Office Water (6 stars) and Indoor Environment (5.9 stars) in the 2024 NABERS Sustainable Portfolio Index. WELL The Australian Investment Management business received multiple International WELL Building Institute 2023 Awards, including a Global WELL Leadership award and a Health and Safety Leadership award. 6 Star Green Star Brisbane Showgrounds, Melbourne Quarter and Victoria Harbour achieved recertification of world leading 6 Star Green Star Communities v.1, reflecting our ability to design and maintain sustainable precincts. LEED The Exchange TRX is the first retail asset in Malaysia to achieve LEED Gold Core & Shell Certification and its rooftop 10-acre public park is a unique ecosystem with more than 150,000 plantings. SECBE Our UK Construction business was a finalist in SECBE’s 2024 Constructing Excellence Award for Climate Action. 1. Compared to the Green Star reference case (Sydney Metro Design & As Built v1.1 rating). Metrics could be subject to change pending final assessment at practical completion.

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