17 Oct 2023
At PMG our approach to sustainability is about improving our impact on the environment and the communities in which we operate, while maintaining financial sustainability for the benefit of all our stakeholders.
Our environmental strategy is three-fold:
Implementing sustainability and green features into our properties is beneficial in retaining and attracting quality tenants, maintaining and protecting property valuations over the long term, and enhancing the performance of our funds and returns to our investors.
Focusing on E-waste for Recycling Week
From 16-22 October, we are supporting Recycle Now's Recycling Week, with initiatives rolled out across some of our Auckland properties. Recycle Week 2023 focuses on “missed capture”: the items that can be recycled but are commonly missed. At PMG, we identified e-waste recycling as an area of focus.
E-waste is electronic products that are unwanted, not working, and nearing or at the end of their “useful life.” This includes computers, keyboards, computer screens, televisions, VCRs, stereos, copiers, and fax machines are everyday electronic products.
From Monday, 16 October until Sunday, 22 October, we have e-waste bins stationed at waste and recycling stations in our properties. At the end of the week, the material will be collected and taken to a collection warehouse, where it'll be processed and sent off for recycling.
While we support initiatives like Recycling Week, we also acknowledge that sustainable change extends beyond just one week of the year. So at PMG, we have sustainability at the heart of how we manage our properties and business. We have already installed standardised waste and recycling systems in 73% of the office and retail buildings across our portfolio. In the 2023 Financial Year, this enabled us to recycle 367.44 tonnes of waste.
Partnering to enable sustainable change
One of the major challenges we've faced in the sustainable management of these properties has been to engage our tenants and their staff to jump on board recycling and waste reduction initiatives.
In 2019, we enlisted the help of Reclaim to install different waste streams, starting with a few key initiatives:
1. Reclaim reporting system: Measuring waste from each stream and using reports to educate and share results with tenants.
2. Education sessions/workshops: PMG and Reclaime partner regularly to host education sessions for tenants and staff, including cleaning staff, encouraging individual ownership and accountability.
3. Communications and signage: Providing clear signage around properties and sending out regular communication has meant that waste management and recycling have remained top of mind, with clear directions and ongoing education to support tenants in their journey.
4. Continuous improvement: Constant monitoring and small, consistent improvements have enabled us to address contamination and ensure everyone is working together towards sustainable outcomes.
Through these initiatives, we are able to collate statistics to support our wider sustainability goals and demonstrate our efforts to our stakeholders (investors and tenants).
Kristy Miller, Key Account Manager at Reclaim, says "PMG’s continuous drive to educate and change behaviours in favour of more sustainable practices with their staff, tenants and suppliers, is a standout in the industry, with many businesses in the portfolio being driven to achieve greater changes in their waste management due to PMG’s leadership."
