The Australian property sector’s commitment to sustainability has been highlighted with strong results from the latest Global Real Estate Sustainability Benchmark (GRESB) ratings.
Each year GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics.
The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations.
This year GRESB Real Estate Assessment participation increased by 15 per cent to include 2,084 listed and non-listed portfolios, generating a benchmark that covers $7.2 trillion (USD) of gross asset value across 75 countries.
Keyton and its existing portfolio of retirement living properties ranked number one in the non-listed residential category for the Oceania region, a testament to its prioritisation of sustainability right across its business.
“This is the fifth year running that we’ve achieved a number one ranking, giving us a five-star GRESB rating, and recognising the hard work we have done to prioritise the continual improvement of sustainability across our business,” Keyton Chief Executive Officer Nathan Cockerill said.
“GRESB assessments are based on analysis of environment, social and governance data, and we have performed very well, scoring 91/100 for our existing assets against a peer group average of 77/100.
“We also performed strongly with our development projects, scoring 96/100 against a peer group average of 87/100, to rank fourth in Australia.
“It is a testament to everyone at Keyton and our Sustainability, Development and Operations teams in particular, that we have retained this GRESB number one ranking for five years now,” he said.
Frasers Property Australia maintained the highest possible five-star GRESB rating for the seventh consecutive year, maintaining its leading performance in both the Development (Diversified Non-listed) and Standing Investments (Diversified Office/Retail Non-listed) categories.
“The decarbonisation strategies we establish within our development projects and across our Standing Investments business, that are integrated with our broader group-wide goals, are why we remain an industry leader in the ESG space,” Frasers Property Australia Chief Executive Officer Anthony Boyd said.
“Amidst growing competition, Frasers Property Australia continues to make incremental improvements in our ESG performance, enabling us to learn and consider further areas of improvement using GRESB’s established and globally recognised metrics.
“It’s pleasing to see international assessments like GRESB becoming more and more competitive, and the incremental improvements Frasers Property Australia continues to make enable us to verify our leadership position against established, globally recognised metrics,” he said.
Scentre Group was awarded Global Sector Leader, Development in the 2023 GRESB Real Estate Assessment, ranking first amongst its retail peers for the third consecutive year and receiving a five-star rating, once again placing it within the top 20 per cent of the benchmark.
The GRESB Sector Leader Awards recognises real estate and infrastructure companies, funds and assets that have demonstrated outstanding leadership in sustainability each year.
Scentre Group Chief Executive, Elliott Rusanow said the acknowledgement of Global Sector Leader reflects the group’s commitment to being a responsible, sustainable business.
“Operating as a responsible, sustainable business underpins our ambition to grow and is fundamental to how we continue to create long-term value for our stakeholders,” Mr Rusanow said.
“The recognition of Global Sector Leader, Development by GRESB is acknowledgement of our ongoing commitment to ESG transparency, disclosures and improved performance as well as the focus of our team on integrating responsible business throughout our decision-making and operations,” he said.
GRESB Chief Executive Officer, Sebastian Roussotte said GRESB Sector Leaders embody the industry’s champions, leading the charge towards a net-zero future and propelling the sector forward.
“We wholeheartedly commend this year’s Sector Leaders for their dedication, leadership and commitment to ESG principles and sustainability,” Mr Roussotte said.