The coming years are crucial for our energy and carbon management plan. We have already laid the foundation and created internal awareness around carbon emissions. Our focus for the following years will be to consolidate our carbon footprint methodology to include all scope 1 and scope 2 emissions sources according to the GHG protocol. The result of this exercise will allow us to review our target and guide us in the consolidation of our Net Zero Pathway. Additionally, we are looking into renewable energy strategies that can be implemented across some of our assets as part of our overall commitment towards reducing our carbon emissions. ENERGY AND Carbon 1. Using FY2019 as a base year for the following properties (Ghana: 5th Avenue, Capital Place) (Kenya: Buffalo Mall) (Morocco: AnfaPlace Mall) (Mozambique: Acacia Estate, Hollard / KPMG Building, Vodacom Building, Commodity Phase 1, Commodity Phase 2, Vale Housing Estate, Mall de Tete, Zimpeto Square) (Zambia: Cosmopolitan Mall, Kafubu Mall, Mukuba Mall) 2. including air travel emissions. Electricity Consumption Challenges in data collection The main challenge included the unavailability of some historic data for the calculation of our baseline. Data was not available for a number of our assets including: Capital place in Ghana, AnfaPlace Mall in Morocco, Vodacom building, Mall de Tete and VDE housing in Mozambique as well as Kafubu Mall and Mukuba Mall in Zambia from July to December 2018. We, thus used, the extrapolation method as detailed in the EPRA Guidelines and used electricity consumption from 2019 in the same months and duplicated those figures to cater for the missing information. A like by like comparison showed that the greatest decrease in electricity consumption is linked to our retail assets. A various number of factors contributed to this decreasing trend including: 1. An increased vacancy rate is linked to lower energy consumption as electricity in vacant lots is switched off. 2. Gradual retrofitting of traditional lights with the more energy efficient LED alternatives. 3. Installation of lights motion sensors in some of our assets. 4. Equipment are being managed more efficiently (sequencing, monitoring of essential equipment during operational hours). 5. The Covid pandemic has led to a lower occupancy rate and lower visits especially in our retail assets), which in turn has been positive for our electricity consumption and accounts for a significant share of the decrease. Achieve 25% Reduction in Carbon Emissions by 20251,2 A reduction of 14% has been achieved until now, putting us on track for our 2025 target. Figure 1: Electricity Consumption across 15 assets under monitoring See Responsible Head Office section for head office’s electricity consumption details Electricity Consumption (KWH’000) Total Of ce Retail Residential FY2022 FY2021 FY2020 FY2019 43,489 29,467 10,124 3,898 39,533 25,858 10,102 3,573 36,565 24,835 9,537 2,193 37,427 25,194 10,076 2,157 10 GRIT
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