Domino’s Pizza commits to net zero by 2050, details huge expansion plans

Domino’s Pizza has joined a growing number of major companies making the carbon emission pledge, while also outlining expansion plans.

Domino’s Pizza is pushing ahead with massive expansion plans and joined the growing number of companies committed to net zero emissions by 2050.

The company has also warned it expects to be faced with higher food and energy costs next year.

The fast food behemoth held its annual general meeting and provided a trading update on Wednesday.

Chief executive Don Meij said its network was already 15 per cent bigger than this time last year through new store openings and acquisitions.

There are 3169 stores in the network and the plan is to more than double that number by next decade.

“We have a busy new store pipeline and this year, we aim to open a record number of new stores,” Mr Meij said.

“Indeed, we are targeting FY22 to be the largest expansion of our store footprint in our company’s history.

“We also remain active in pursuing additional markets.”

Over the next three to five years, Domino’s is targeting 9-12 per cent new store growth, and chairman Jack Cowan gave more detail in his speech to investors.

“Where other businesses in our category or broader industry immediately went on the defensive when Covid-19 arrived, Domino’s Pizza Enterprises expanded our presence – opening more stores, marketing to more customers, donating more meals to the community,” Mr Cowan said.

“With the acquisition of Taiwan, our tenth market, and a review of our modelling, Domino’s now expects to operate more than 6650 stores by 2030.

“We foresee significant upside beyond 2033 in our existing businesses, particularly Europe and Asia.”

Mr Meij said the network in both regions were “planned to be bigger than the entire Domino’s Pizza Enterprises of today”.

Mr Meij said Domino’s would, in the next 12 months, set time-bound and science-based targets with an interim goal and a commitment to reach net zero greenhouse gas emissions before 2050.

“We are embracing this responsibility to take action now, and inspire our industry and supply chain partners.”

He said Domino’s would partner with Compassion in World Farming on the company’s Better Chicken Commitment, expanding its pledge for Europe to include Australia and New Zealand.

“We have also expanded our offerings to vegan, vegetarian and flexitarian customers, with plant-based cheeses and alternatives to our traditional proteins,” Mr Meij said.

On expected higher food prices in 2022, Domino’s said long term contracts would provide some buffer.

Shareholder activist Stephen Mayne asked Mr Cowan, aged 79, whether he planned to emulate the boss of the publisher of this title – News Corp chairman Rupert Murdoch – in continuing his career into his 90s.

The executive said that “may be wishful thinking”.

“I may not be that lucky but that would be my desire,” Mr Cowan elaborated.

Originally published as Domino’s Pizza commits to net zero by 2050, pushing ahead with massive expansion plans

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Kevin Anderson grilled over Aya Eliza, Atmosphere defective apartment buildings in Western Sydney

Prospective homebuyers are not being warned of the potential flaws in several ‘notorious’ Sydney apartment buildings.

Homebuyers are not being warned about the potential risks of purchasing apartments in “notoriously” flawed Sydney towers, months after their defects were revealed.

Apartments in the Aya Eliza towers in Auburn and the Atmosphere building in Castle Hill, which have respectively been under “prohibition orders” since March and June, are being advertised for sale for between $430,000 and $820,000.

These NSW Fair Trading restrictions mean the occupation certificates that people require to move into a new building can’t be issued to homebuyers.

NSW Better Regulation Minister Kevin Anderson couldn’t explain at a budget estimates hearing on Wednesday what action he had taken since then to ensure that homebuyers were aware if buildings were under prohibition orders.

Four months have passed since NSW Building Commissioner David Chandler publicly described the Aya Eliza towers as the worst building he had ever inspected.

Mr Chandler told the hearing the Atmosphere and Aya Eliza buildings each housed more than 200 apartments.

He said they were the only developments under prohibition orders that had people living in them.

The prohibition orders on these buildings meant that only “interim” but not “final” occupation certificates could be issued to people who bought apartments in them.

Goodenia Developments, whose director is the founder of Western Sydney high-rise apartment developer Merhis Group, is behind the 16-storey Aya Eliza building at 93 Auburn Road that has been subject to a multiple complaints.

Toplace Group was ordered in June to fix cladding issues on the Atmosphere apartment block at 299-309 Old Northern Road, Castle Hill over waterproofing concerns that could cause “dangerous conditions” for residents.

Mr Chandler said on Wednesday that while both complexes were “habitable”, it was “not desirable” for people to be buying into defective buildings.

Speaking at the hearing, Labor MP Courtney Houssos asked Mr Anderson what he had done since June to ensure homebuyers were informed of potential defects.

“A series of apartments were raised with you four months ago, properties that were for sale that were not disclosing important information,” she said.

She claimed real estate agents were failing to disclose that the “notorious” buildings were under prohibition orders in their advertisements and when speaking to prospective homebuyers or tenants.

“There are currently two properties that are for sale in the Atmosphere building, which don’t disclose that they are subject of prohibition orders,” she said.

“And I can let you know that I spoke to the real estate agent this morning and he made no disclosure of the prohibition orders.”

Ms Houssos said the Real Estate Institute of NSW had told her there was very little knowledge of prohibition orders among agents.

“The peak body for real estate agents is telling you there’s a problem. It was raised four months ago on the front page of a major metropolitan newspaper,” she said.

“And it appears that your government’s response to protect apartment owners from buying into deeply defective buildings is to say ‘we’ll send a couple of emails to real estate agents’.”

Mr Anderson said he would investigate and that vendors and real estate agents were obliged to disclose this information to buyers.

He said the Perrottet government would imminently announce its appointment to the new role of property services commissioner, who will further scrutinise the industry.

The watchdog would look at the “areas that needed to be fixed” and improve communication between developers, real estate agents and homebuyers.

Shooters, Fishers and Farmers MP Mark Banasiak asked what regulatory powers the commissioner would have.

“Looking at something isn’t really a power. Once they’ve finished looking at it, what specific powers or enforcement action will they be able to take?” he asked.

Greens MP David Shoebridge suggested: “X-Ray vision”.

Mr Anderson said he considered the new commissioner’s role “very seriously” and that they would be given the resources to do their role.

Originally published as Kevin Anderson grilled over regulations on selling ‘notorious’ defective Sydney apartment buildings

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