Real estate assets in Australia and New Zealand are leading the world in environmental standards, according to a new global ranking from GRESB.
Companies and funds based in the region outperformed all other regions, attaining a score of 73 compared to a global average of 63, according to GRESB’s Global ESG Benchmark for Real Assets.
The strong showing comes amid growing investor demand for disclosures around environmental, social, and governance (ESG) concerns.
“The results for Australia and New Zealand underline that investor interest, supported by accurate ESG performance benchmarking and building-level certification programs, is empowering the spread of leading practices in sustainability,” said Ruben Langbroek, head of Asia-Pacific for GRESB.
“The region’s integrated approach to sustainability supports the industry’s efforts to create healthy working environments, efficient buildings, inclusive communities and resilient cities.”
The top company or fund globally was Lendlease’s Australian Prime Property Fund Commercial (APPF Commercial). Lendlease also took the honour for most sustainable development fund globally. This was jointly awarded to Lendlease International Towers Sydney Trust (LLITST) and Lendlease One International Towers Sydney Trust (LLOITST).
Meanwhile, Dexus Wholesale Property Fund (DWPF) was named a global sector leader for diversified office and retail groups, while Stockland was ranked first globally among listed companies in the diversified office and retail sector.
Certification programs have been gaining traction in Australia, and the Green Building Council of Australia (GBCA) has certified more than 1,700 Green Star-rated buildings, fit outs, and communities.
Globally, the real estate sector reduced energy consumption by 1.1% and slashed carbon emissions by 2.2% this year.
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