Frasers Property Australia, Cbus Property, Barangaroo’s International Towers, and the Powerhouse Museum group have made a commitment to transition away from gas in favour of electric cooking by 2040.
This move aligns with the existing pledges from property leaders Lendlease and GPT, resulting in a collective total of at least $127 billion in combined assets and funds under management committed to the gas phase-out for cooking.
The organisations are partners of the Global Cooksafe Coalition (GCC), expressing their commitment to eliminating gas usage in kitchens of new developments by 2030 and implementing all-electric retrofits for existing properties by 2040.
Recent estimates show that there are 2.9 million gas heating systems and 5.2 million gas hot water systems currently installed in Australian homes. Under business-as-usual settings, the Residential Energy Baseline Study 2021 predicts that the number of gas hot water systems in homes will increase from 5.2 million in 2022 to 7.2 million in 2040.
Every Building Counts, a joint report from the Property Council of Australia and Green Building Council of Australia released earlier this year, included a key policy recommendation of phasing out of fossil fuels in existing buildings and appliances, that would see the end of gas water heaters and cooktops in Australian homes.
The report also recommended urgently growing skills and market readiness for electrification, as to transition 85 per cent of homes off gas by 20404 requires retrofitting hot water systems in 5,000 homes every week until 2040, starting in 2023.
Felicity Armstrong, General Manager Assets, Frasers Property Australia said the GCC partnership aligns with its ESG strategy.
“It means working collaboratively with the retailers in our centres, while ensuring the homes we create in the future integrate the best quality, sustainable all-electric solutions,” she said.
“We know our retail and residential customers want to reduce their footprints and this is another way for us to take the journey together.”
Ann Austin, Head of Sustainability, Lendlease Australia said the group is calling for universal access to safe, sustainable cooking that is free from gas.
“We’ve already committed new apartment developments to include induction cooking, and we’re seeing a real shift in interest among food and beverage retailers for electric kitchens – at our recently opened Sydney Place precinct, five of our retail tenants have elected to fit all-electric kitchens as the industry starts to embrace the move away from gas,” she said.
Cbus Property Chief Executive Officer Adrian Pozzo said the coalition demonstrates how the industry is changing.
“We are proud to support our partners and customers in the transition to a net zero carbon future by ensuring we are delivering office buildings, retail centres and residences that are healthy, safe, efficient and sustainable,” he said.
“Our future-ready developments are designed with next-generation technology in response to dynamic and evolving customer requirements, showcasing the enduring certainty of the Cbus Property brand and creating sustainable returns for Cbus Super members.”
Steve Ford, Head of Sustainability at The GPT Group said GPT is committed to the electrification of kitchens in its assets to help reduce the use of fossil fuels by its tenants.
“This aligns with GPT’s commitment to the reduction of energy consumption and emissions in our portfolio, as part of our target to operate a carbon neutral portfolio of assets within our ownership control by 2024,” he said.