Australian property companies have topped the 2022 GRESB Real Estate Benchmark once again, leading the global cohort in sustainability.
GRESB is the global benchmark for environmental, social and governance (ESG) performance of real assets.
Every year, the GRESB Real Estate Assessment generates two benchmarks – the GRESB Standing Investments Benchmark, which considers ESG management and performance factors and is aimed at portfolios with operating buildings, and the GRESB Development Benchmark, which considers ESG management and property development factors and is for portfolios with new construction and major renovation projects.
Globally, Oceania maintains the highest regional average score of 82 in the Standing Investment Benchmark and 88 in the Development Benchmark.
So, who are the most sustainable property companies in Australia?
2022 GRESB Real Estate Standing Investments Sector Leaders
Overall Global Sector Leaders (Achieved highest score for its sector)
Recognised as the overall global sector leaders, these companies achieved the highest score for the combination of nature or ownership and sector.
- Office
Australian Prime Property Fund Commercial, Lendlease; ISPT 50 Lonsdale Street Property Trust, ISPT Pty Ltd; Lendlease One International Towers Sydney Trust (LLOITST), Lendlease
- Diversified, Office/Retail
CBUS Property, CBUS Property; ISPT Core Fund, ISPT Pty Ltd.
- Residential
Lendlease Retirement Living Trust, Lendlease
2022 GRESB Real Estate Development Sector Leaders
Overall Global Sector Leaders (Achieved highest score for its sector)
Overall Global Sector Leaders are also recognised as being the “Global Sector Leaders” by GRESB for achieving the highest score for the combination of nature of ownership and sector
- Office
Charter Hall Prime Office Fund (CPOF), Charter Hall
- Healthcare
Dexus Healthcare Property Fund, Dexus
- Retail
Scentre Group, Scentre Group
- Diversified
ISPT Core Fund, ISPT Pty Ltd
Property Council of Australia Chief Executive Ken Morrison said there is growing demand from the investment community for robust disclosure of sustainability credentials from property sector organisations.
“GRESB continues to deliver these key insights and encourages investment flows to more sustainable projects and organisations,” Mr Morrison said.
“Australian companies are once again leading overall scores and providing a blueprint for other jurisdictions to follow in the transition to a resilient and decarbonised economy. Australia cannot achieve its net zero goals without the built environment.
“Australian leadership is a testament to the innovation, collaboration and sustainability ambition of our industry and merits the global recognition on display in this year’s results.”
Regionally, Australia also dominates the list of most sustainable companies.
2022 GRESB Real Estate Standing Investments Sector Leaders
Overall Regional Sector Leaders (Achieved highest score for its sector and region)
- Office
Australian Prime Property Fund Commercial, Lendlease; ISPT 50 Lonsdale Street Property Trust, ISPT Pty Ltd; Lendlease One International Towers Sydney Trust (LLOITST), Lendlease
- Retail
Vicinity Centres Direct Portfolio, Vicinity Centres AMP Capital Retail Trust, AMP Capital Funds Management Limited; Charter Hall Prime Retail Fund (CPRF), Charter Hall; Charter Hall Retail Partnership 1 (RP1), Charter Hall; Vicinity Centres Direct Portfolio, Vicinity Centres
- Industrial
Aliro Trusco 1 Pty Ltd as trustee for the Aliro Group Industrial Value Fund, Aliro Management Pty Ltd; Frasers Property Industrial Australia Pty Limited, Frasers Property Industrial Australia Pty Limited
- Diversified – Office/Retail
Cbus Property, Cbus Property; ISPT Core Fund, ISPT Pty Ltd
- Diversified – Office/Industrial
Goodman Australia Partnership (GAP), Goodman Group; Growthpoint Properties Australia, Growthpoint
Overall Non-listed Regional Sector Leaders (Achieved highest score for its sector)
- Office
Australian Prime Property Fund Commercial, Lendlease; ISPT 50 Lonsdale Street Property Trust, ISPT Pty Ltd; Lendlease One International Towers Sydney Trust (LLOITST), Lendlease
- Retail
AMP Capital Retail Trust, AMP Capital Funds Management Limited; Charter Hall Prime Retail Fund (CPRF), Charter Hall; Charter Hall Retail Partnership 1 (RP1), Charter Hall
- Industrial
Aliro Trusco 1 Pty Ltd as trustee for the Aliro Group Industrial Value Fund, Aliro Management Pty Ltd; Frasers Property Industrial Australia Pty Limited, Frasers Property Industrial Australia Pty Limited
- Diversified
Office/Retail – Cbus Property, Cbus Property; ISPT Core Fund, ISPT Pty Ltd
2022 GRESB Real Estate Development Sector Leaders
Overall Regional Sector Leaders (Achieved highest score for its sector and region)
- Industrial
Aliro Trusco 1 Pty Ltd as trustee for the Aliro Group Industrial Value Fund, Aliro Management Pty Ltd
- Office
Charter Hall Prime Office Fund (CPOF), Charter Hall
- Residential
Lendlease Retirement Living Trust, Lendlease
Overall Non-listed Regional Sector Leaders (Achieved highest score for its sector)
- Industrial
Aliro Trusco 1 Pty Ltd as trustee for the Aliro Group Industrial Value Fund, Aliro Management Pty Ltd
- Residential
Lendlease Retirement Living Trust, Lendlease