Sustainability

BWP is committed to acting responsibly and ethically and operating its business in a manner that is sustainable.

How this achieved is summarised in Our Sustainability Principles.

Overview

BWP recognises climate change, biodiversity loss, and increasingly severe weather patterns as interconnected risks with potential impacts on its properties, tenants, and securityholders. While BWP’s operations are considered low intensity – due to its ownership of established commercial assets and passive management model – BWP acknowledges its role within the broader value chain and supports the transition to a decarbonised economy, and its broader responsibility to local communities and environments within which it operates. BWP’s commitment to sustainability is an important element of its business approach and directly supports the delivery of its strategic pillars of portfolio optimisation, profitable growth and portfolio renewal.

Whilst BWP continues to strengthen the integration of sustainability into strategy and day-to-day decision-making, managing environmental, social, and governance (‘ESG’) priorities remains an important element in delivering long-term value for stakeholders and in support of the interests of securityholders.

From an environmental performance perspective, the focus continues to be identifying and mitigating climate-related risks while also reducing climate impacts, with this approach considering the size and nature of BWP’s  operations and their relatively modest potential impacts on the environment and society. Whilst BWP’s ownership and management of established commercial property is considered low intensity in terms of emissions, waste, energy use, and materials, BWP will continue managing the portfolio with a focus on sustainability. BWP’s management of the portfolio has supported tenants in implementing their sustainability ambitions, which include operational efficiency and environmental impact reduction.

In relation to social and governance impacts, these are more limited due to the passive nature and localised scope of BWP’s operations and the regulated environment within which BWP operates.

Key sustainability metrics

82	Investment properties, all within Australia and predominantly in the large format retail sector.
261.5ha	Total land area.  BWP does not typically engage in development work (other than capital expenditure related to the repositioning of a property where a vacancy has occurred or property acquired adjacent to an existing asset for the purposes of lettable area expansion via development). BWP generally acquires established properties or developments that pass to BWP upon completion via  acquisition
$3,704.8m	Portfolio value
Net-zero1 2025 Limited Assurance Report	No Scope 1 emissions: BWP’s emissions footprint does not include Scope 1 emissions as its business activities do not directly release emissions into the atmosphere Indirect emissions from purchased electricity were 148 tonnes of CO2e for the period ending 30 June 2025, a 63 per cent decrease in emissions from the prior year largely attributed to changes in renewable energy procurement at properties acquired during the prior period, and a focus on operational changes including lighting practices Surrendered 180 Australian Carbon Credit units to offset the 148 tonnes of CO2e, leading to a net Scope 2 emissions position of zero
2,091 mWh produced	In addition to the net-zero Scope 2 emissions position recorded for the year, solar production for the year ended 30 June 2025 was 2,091 mWh (30 June 2024: 1,254 mWh). The solar power produced is used by BWP’s tenants in common areas where BWP has some operational control, or fed back into the grid for use by other network customers. Assisted tenants (excluding Bunnings Warehouses) in reducing their emissions by 1,272 tonnes of CO2e through solar installations.
50	Solar power generation is installed at 50 properties owned by BWP A Tesla battery is installed at one property and collects surplus energy from the solar installation at the property
89%	89 per cent of properties have water tanks in place for the recycling of roof-collected rainwater
	As at 30 June 2025, the management team comprised four male members, and the Board, including the executive director, consisted of equal gender representation
0 injuries or deaths	Our safety performance record

BWP reports Greenhouse Gas (‘GHG’) emissions in accordance with the:
> World Resources Institute World Business Council for Sustainable Development (WRI/WBCSD’s) GHG Protocol: A Corporate Accounting and Reporting Standard (revised edition);
> GHG Protocol Scope 2 Guidance: An amendment to the GHG Protocol Corporate Standard, National Greenhouse and Energy Reporting Act 2007;
> National Greenhouse and Energy Reporting (Measurement) Determination 2008, Clean Energy Regulator Voluntary market-based Scope 2 emissions guidelines; and > BWP’s Scope 2 Greenhouse Gas Emissions Reporting Basis of Preparation.

Reporting is confined to those aspects of the business over which BWP has operational control as defined within the GHG Protocol, which typically include emissions from electricity supplied to common areas (such as carpark lighting, fire pumps), and vacant properties where BWP is responsible for the power connection.