This month embraced national Recycling week from 16 to 21 September, 2024. Highlighting the topic, Brian Unsted, Lead Sustainability Specialist at Liberty Two Degrees, has penned his view on the property sector’s significant role in waste generation and it’s potential to drive sustainability through waste reduction and resource efficiency.
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Unsted says that, “as concerns about climate change and environmental sustainability intensify, the property sector stands at a pivotal crossroads. One of the most significant, yet often overlooked, challenges is the sector’s role in generating waste. Addressing waste is not just around reducing environmental harm, which is critical, but in doing so, it also presents an opportunity for the property sector to drive positive change, cut costs, and increase value.”
He adds that, “South Africa is recognised as the third highest waste generator in sub-Saharan Africa, producing 0.98 kg of waste per person per day – 32% above the global average. In fact, according to a Department of Environmental Affairs study, over 42 million cubic meters of general waste is generated across the country annually, with the largest proportion coming from Gauteng at 42%, followed by Western Cape at 20% and certainly these figures underline the need for real change. The sad reality is that unless significant changes are made to the volume of waste generated in South Africa, based on current trends outlined by The World Bank, Sub-Saharan Africa will generate more waste per annum than any North America, Europe and Southeast Asia, Latin America and Caribbean by 2050.”
Gaining a competitive edge
“In an era where investors and tenants prioritise sustainability, properties that integrate waste reduction and efficient resources use will gain a competitive edge. While the rise of ESG (Environmental, Social, Governance) investing has placed significant pressure on the property sector to demonstrate sustainable practice, if this sector wants to truly future proof its business, they must then find ways to actively engage their surrounding communities and minimise their impact on the environment through meaningful and innovative initiatives.”
He goes on to say that: “Certainly, for many, managing waste streams is not often seen as an obvious starting point. However, given that property assets produce ongoing operational waste, such as tenant trash in office spaces to food waste – these waste streams have severe environmental repercussions, including resource depletion, energy consumption and increased landfill pressure – this should indeed be a starting point. In fact, today, waste management directly impacts operational costs and therefore the understanding of circular economy models, where materials are reused, recycled, and repurposed is a clear path to minimising waste production and drive innovative recycling and reuse systems.”
Sustainable spaces
In the current landscape, creating sustainable spaces for both the landlord and tenant is a priority. “With growing awareness of climate change and resource scarcity, stakeholders are prioritising green building practices, energy efficiency, and sustainable design.”
“However, to achieve this outcome, it means being mindful that sustainability is a joint effort, and that commitment is needed at the highest levels of a company to ensure integration into the overall business strategy, as well as maintaining a cohesive approach that considers ethical considerations and sustainability goals. This is how companies can truly enhance and promote resilience.”
“Liberty Two Degrees recently achieved 90% diversion of all its waste from landfill. However, this was not undertaken alone, and we recognised that environmental sustainability is a shared responsibility, and therefore actively collaborated with tenants, shoppers, service providers and our employees to reduce the consumption of scarce resources and work towards Net-Zero targets. Awareness campaigns such as waste diversion initiatives, and water and energy savings programmes were also undertaken to engage tenants and contribute to positive behavioural changes, as we recognise that raising awareness about the importance of recycling, proper waste disposal, and sustainable resource use is also critical to driving long-term change.”
“As we look toward the future, the retail property industry finds itself at a crossroads. One fork is business-as-usual which fails to adapt to change and fails to develop a sustainable environmental alternative. The other part takes us to an industry future that has never looked better – with safe, smart and inclusive immersive spaces at their core. As the world moves towards a more sustainable future, my view is that the property sector must embrace innovation and collaboration to build a greener tomorrow,” he concludes.
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Top photo: Sandton City, Protea Court.
