DEXUS Property : 2017 CDP report

Dexus 2017 Carbon Disclosure Project Report 1

Introduction 3

1. Introduction 3

2. Reporting year 3

3. Country list configuration 3

4. Currency selection 3

6 Modules 3

Module: Management 4

Governance 4

Strategy 5

Targets and initiatives 12

Communication 18

Module: Risks and opportunities 20

Climate change risks 20

Climate change opportunities 26

Module: GHG emissions accounting, energy and fuel use, and trading 34

Emissions methodology 34

Emissions data 35

Scope 1 Emissions breakdown 38

Scope 2 Emissions breakdown 39

Energy 39

Emissions performance 40

Emissions trading 44

Scope 3 emissions 48

Module: Sign off 56

2 Dexus 2017 Carbon Disclosure Project Report

1. Introduction

   Please give a general description and introduction to your organization

   Dexus is an Australian Real Estate Investment Trust, with $22.2 billion of assets under management. Listed on the Australian Securities Exchange, Dexus manages and directly invests in high quality Australian office and industrial properties, and also actively manages office, industrial and retail properties across Australia on behalf of third party capital partners.

   The owned portfolio consists primarily of high quality central business district office properties, held long term and leased to derive stable and secure ongoing income streams. Developments, acquisitions and divestments are undertaken to enhance the quality and value of the portfolio.

   Dexus generates both rental income from its own properties and fees for undertaking leasing, property management and development on behalf of third party clients. In addition, Dexus has a trading trust that enables the development and repositioning of properties to enhance value and sell for a profit.

   The total property portfolio of $22.2 billion as at 30 June 2016 includes $11.0 billion of owned property and $11.2 billion of property managed for third party clients, with a $4.7 billion development pipeline across the Group.

   Dexus is Australia's preferred office partner with 1.8 million square metres of office space spanning 58 office properties around Australia. Dexus's office buildings are located in the CBDs of Sydney, Melbourne, Brisbane, Perth, Adelaide and Canberra.

2. Reporting year

   Please state the start and end date of the year for which you are reporting data.

   Wed 01 Jul 2015 - Thu 30 Jun 2016

3. Country list configuration

   Please select the countries for which you will be supplying data. This selection will be carried forward to assist you in completing your response

   Australia

4. Currency selection

Please select the currency in which you would like to submit your response. All financial information contained in the response should be in this currency.

AUD ($)

As part of the request for information on behalf of investors, companies in the electric utility sector, companies in the automobile and auto component manufacturing sector, companies in the oil and gas sector, companies in the information and communications technology sector (ICT) and companies in the food, beverage and tobacco sector (FBT) should complete supplementary questions in addition to the core questionnaire.

If you are in these sector groupings, the corresponding sector modules will not appear among the options of question CC0.6 but will automatically appear in the ORS navigation bar when you save this page. If you want to query your classification, please email respond@cdp.net.

If you have not been presented with a sector module that you consider would be appropriate for your company to answer, please select the module below in CC0.6.

Dexus 2017 Carbon Disclosure Project Report 3

1.1 Where is the highest level of direct responsibility for climate change within your organisation?

Board or individual/sub-set of the Board or other committee appointed by the Board

Yes

1.2a Please provide further details on the incentives provided for the management of climate change issues

4 Dexus 2017 Carbon Disclosure Project Report