Australia's property industry has again proven itself among the world's best in terms of environmental, social and governance (ESG) indicators after the Oceania region topped the Global ESG Benchmark for real estate assets (GRESB).
Australia and New Zealand achieved an average GRESB score of 81, up from 76 last year, and well ahead of the global average of 72. Following the Oceania region was Asia, with a GRESB score of 72.67.
The large gap between the region's performance and those of others indicates the efforts of the local property industry to take initiatives on ESG, Property Council of Australia chief executive Ken Morrison said.
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"The investments that Australian property companies are making in sustainability is supporting the global transition to a low-carbon, more sustainable and more resilient future, which is delivering value for investors and meeting the needs of a growing population and economy," he said.
GRESB's results are used by more than 100 institutional investors around the world, representing US$22tn in assets under management. More than 1,000 property companies, REITs, funds and developers participated in the 2019 assessment.
The assessment scored the ESG performance of 80 real estate funds, companies, and developers from Australia and New Zealand, with assets valued at US$242bn.
"The strong performance by Australian property assets in a growing pool of participants is a testament to our industry's commitment to ESG principles and their leadership on energy efficiency, emissions reduction, inclusion and health and wellness which are all increasingly important factors for the global investment marketplace," Morrison said.
Here are some of the highlights of the assessment:
Top Suburbs :
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