Stockland’s Green Bonds to fund developmentsStockland is the first Australian company to release a green bond, the proceeds of which will be invested in environmentally sustainable building projects that achieve a minimum 4 Star Green Star rating.Stockland, whose current portfolio of 19 Green Star projects includes the highest number of Green Star-rated shopping centres in Australia, launched the AU$429,274 million (€300 million) green bond last week, a move the Green Building Council of Australia (GBCA) has applauded. The property developer said the green bonds will fund investment in the development and redevelopment of Green Star-rated retail, commercial, residential and retirement living projects that achieve a minimum 4 Star Green Star rating with the GBCA.The first Green Star-rated retirement living village, Affinity, in Perth, has recently been completed by Stockland. Its largest residential community project, at Caloundra South on the Sunshine Coast, is registered to achieve a Green Star – Communities rating.Stockland’s managing director and CEO Mark Steinert said the green bond will enable the company to invest further in leading-edge sustainable projects.Robin Mellon, the GBCA’s chief operating officer, said assets with 4 Star Green Star ratings, representing ‘best practice’ in sustainable building design and construction, have been proven to deliver numerous benefits, including: higher rents and higher returns on investment (ROIs) than non-green buildings, better employees, and more grants and partnerships.”Green bonds will encourage investors to consider potential assets on the basis of their long-term sustainable returns. Stockland’s leadership will help us build a more sustainable property industry,” Mellon said.
Home Property Australia Stockland s Green Bonds to fund developments