Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 42

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 42
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Net Zero Asset Managers (“ NZAM”) initiative, to further our commitment to support the transition to a net zero carbon economy. NZAM is a group of international asset managers committed to supporting the ambition of net zero GHG emissions by 2050 or sooner. To fulfill this ambition, we measure our Scope 1, 2 and 3 emissions, prioritize emissions reductions across our business and work towards publishing disclosures in line with the recommendations of the TCFD.

As an interim target, our business committed to reduce in-scope emissions from a 2019 base year by at least 50% by 2030. In setting our interim target, we focused on investments where (i) we have control and therefore sufficient influence over the outcomes; (ii) we could identify and implement actionable initiatives in the near term; and (iii) we assessed it to be value accretive to do so over the life of the investment.

Our intention is to increase the proportion of assets to be managed in line with net zero annually or as frequently as possible, consistent with our ambition to reach 100% over time. Our net-zero interim target includes Scope 1 and 2 emissions of Brookfield's portfolio companies or otherwise the majority of “financed emissions."

We intend to support this goal by contributing operational and investment expertise to execute practical decarbonization strategies that will prepare our business and properties for the future economy. We are focused on developing foundational processes to catalyze decarbonization and will continue to take action across our properties. We are also focused on providing support to our portfolio companies through the sharing of best practices and resources, as well as regular and systematic monitoring to understand our progress.

Water, Waste & Nature

Reducing the impact of our water consumption and waste generation helps build efficient systems, business resiliency and contributes to a sustainable future. We utilize industry best practices to efficiently monitor and manage performance and seek to ensure continual reduction of water consumption. In addition, we adhere to all applicable local and regional waste regulations and track waste and recycling metrics. Encouraging conservation of nature is an important component in achieving net zero and managing physical risks. We strive to protect biodiversity and ecosystems near our businesses.

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Reporting and Certifications

We seek to measure the success of our environmental initiatives and report on our progress, including by participating in the Global Real Estate Sustainability Benchmark (“ GRESB”). GRESB is the most highly regarded sustainability index among capital markets and investors, and Brookfield has been participating in the survey for 12