Shopping centre goes green; ETFS break new ground
Shopping centre goes green
Car park's solar panels will cut emissions Scentre Group, the shopping giant created from the Westfield restructure in 2014, is going green. The company's latest sustainability report, released in late April, sets new environmental benchmarks for the group. To reduce its carbon footprint, a Westfield shopping centre in Marion, Adelaide, will have a solar-powered car park canopy, planned to cover 240 car spaces and generate more than 647kW of power each year, helping it reduce carbon emissions by about 650 tonnes. Scentre has also introduced GoGet car-sharing services at seven centres in Sydney, with more to be rolled out later in the year.
ETFs break new ground
Investment company VanEck recently launched two Australian-first exchange traded funds (ETFs). Vectors FTSE Global Infrastructure (Hedged) (ASX: IFRA) is the first ETF to give investors access to global infrastructure securities. The fund will track the FTSE Developed Core Infrastructure 50/50 Index, a diversified global infrastructure index. VanEck says it has seen increasing demand for global infrastructure, as investors are attracted to the stable income. The S&P/ASX Franked Dividend ETF (FDIV) is the first to include S&P/ASX 200 companies that have paid out 100% franked dividends in the past two years.
Lower power promise
A new energy retailer has joined the NSW market, promising to slash everyday electricity costs by 30-40%. Mojo Power offers electricity on a subscription-based model. Users are charged a flat monthly fee to subscribe to a plan in return for electricity at wholesale rates. In an ABC interview Mojo said the annual subscription starts at $22.50 a month. Mojo says it sells electricity to customers at the price at which the company buys it, and co-founder Darren Miller claims this will lower traditional rates by 30-40%. SN