L2D CE Amelia Beattie
JSE-listed real estate investment trust (Reit) Liberty Two Degrees (L2D) will implement a “no plastic shopping bags” policy at its portfolio of malls from January 2020.
The Reit said in a statement on Friday that the future of retail was defined by a continued adoption of standards that meet national and global sustainability goals.
L2D has set itself a net zero sustainability target by 2030, which will see the reduction of its water and energy use, along with other measures.
As part of the no plastic shopping bags commitment, L2D has partnered with a community-based organisation called Bana Bags, in Alexandra, Johannesburg, to introduce plastic-free bags into its centres to ensure the continuation of education to encourage sustainable and environment-friendly ways of doing business.
Additionally, the Reit has introduced recycling drop-off booths in Sandton City and Eastgate Shopping Centre and will be rolling this out throughout its retail-focused portfolio.
“With rising levels of plastic pollution in our country and oceans, it is no longer a case of best practice to eradicate the use of plastic shopping bags, but rather a commitment of paramount importance and necessity,” said L2D CE Amelia Beattie.
L2D’s portfolio comprises predominantly retail real estate assets in South Africa. In Johannesburg, the retail assets are an interest in the Sandton City Complex, the Eastgate Complex and Nelson Mandela Square.
Two regional shopping centres – Liberty Midlands Mall, in KwaZulu-Natal, and Liberty Promenade Mitchells Plain, in the Western Cape – are also included in the portfolio, as are L2D’s interests in the Melrose Arch mixed-use precinct, in Gauteng, and the newly developed Botshabelo Mall, in the Free State.