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s I reflect on my journey into environmental sustainability, I'm reminded of my background in finance within the real estate sector. I saw firsthand how sustainable practices could benefit both finances and operations. When Liberty 2 Degrees (L2D) was founded in 2016, I recognized an opportunity to drive meaningful change, given the industry's significant contribution to global carbon emissions.
Since then, I've championed L2D's sustainability efforts, developing a comprehensive strategy for responsible resource consumption and efficient management. My experience on the Board of the Green Building Council of South Africa (GBCSA) further fueled my passion for sustainability, particularly during our approach to 1,000th building certification in South Africa.
Our initiatives focus on achieving Net Zero Carbon through energy management, solar PV systems, and energy efficiency measures. Notable projects include a 5 MW solar installation at Midlands Mall and 6 MW at Eastgate Shopping Centre, reducing our reliance on grid electricity by nearly 20% by 2025. We've also achieved prestigious Green Star ratings for several buildings, including a 6-star rating for Sandton City Shopping Centre.
Climate action has become personal to me, driven by the knowledge of climate change's impacts and my responsibility as a parent to leave behind a healthy planet. Our sustainability journey is supported by concrete results, such as diverting nearly 91% of operational waste from landfills in 2023. Technological advancements have also made solar energy more viable, with returns increasing from 6% to 17% between 2011 and 2017.
The shift towards ESG criteria has reshaped the real estate landscape, making sustainability a non-negotiable element of every project. However, challenges persist, including changing entrenched mindsets and aligning tenants with sustainability initiatives. My vision for climate action emphasizes understanding local climate risks and their impact on asset pricing and insurance costs.
For those starting their climate journey, I advise performing a gap analysis to understand where you are and where you want to be. Be realistic about your ambitions and know that some initiatives will succeed while others may fail. The key is to learn from each experience. L2D's progress has brought significant business benefits, including energy savings and reputation growth.
Everyone has a part to play in environmental sustainability, whether through small daily actions or significant organizational changes. It's a rewarding field that allows us to make a tangible impact on the world.
