Australian property companies have "set a new benchmark for sustainability" in the 2019 Global ESG Benchmark for real estate assets (GRESB) results, the Green Building Council of Australia says.

Designed to measure sustainability performance across the globe, GRESB assessed a record 1,005 property companies, REITs, funds and developers, comprising more than 100,000 assets worth in excess of AUD $6 trillion.

Australia set a new record, achieving the highest score of any country to date of 81, up from 76 in 2018, once again recording the best result of all countries. The global average also increased, climbing to 72 from 68 in 2018.

Green Building Council of Australia (GBCA) CEO Davina Rooney said Australian companies were providing global leadership and continued to raise the sustainability bar.

“Having provided global leadership from their position at the top of the international rankings for nine years now, these companies have continued to innovate, to work even harder and to achieve even better results," she said.

“This helps drive improvements in performance not only here in Australia but right around the world and we commend their efforts, which are critically important to shaping our collective future.

“The voluntary, industry-led, tools and initiatives we deploy, in partnership with our members, like the Carbon Positive Road map and independent Green Star certification, support Australia’s property companies in their pursuit of new levels of sustainability excellence."

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Green Building Council of Australia CEO Davina Rooney. Source: GBCA

Rod Fehring, CEO of Frasers Property Australia, said while his company had a lot to be proud of, there was still more work to be done.

“GRESB, underpinned by Green Star, provides an appropriately rigorous framework for continuous improvement in the design, delivery and operation of the properties we create, on our way to a decarbonised built environment and socially, environmentally and economically resilient communities," he said.

David Yates, Executive General Manager for Sustainability at Dexus said the company had "consistently delivered" on what it set out to achieve when it came to sustainability targets.

“Our ambitious 2030 net-zero emissions target, combined with our continued focus on improving energy efficiency and enhancing our customers’ experience, all contributed to our GRESB results this year," he said.

“Our perfect scores achieved across social and governance factors demonstrate that we are focused on creating long-term value for our people, customers and communities, supported by an inclusive workplace culture.”

Overall Global Sector Leaders (Achieved highest score for its sector)

• Office – Private: Australian Prime Property Fund Commercial, Lendlease
• Retail – Private: Australian Prime Property Fund Retail, Lendlease
• Diversified - Office/Retail – Private: Dexus Wholesale Property Fund, Dexus Property Group
• Developer – Residential: Frasers Property Australia Pty Ltd - Development Assets, Frasers Property Australia Pty Ltd
• Developer – Industrial - Goodman Group (GMG), Goodman Group

Global Sector Leaders (Achieved highest score for the combination of nature of ownership and sector)

• Office – Listed: Dexus Office Trust, Dexus Property Group
• Industrial – Listed: Frasers Logistics & Industrial Trust, Frasers Logistics & Industrial Asset Management Pte. Ltd.
• Diversified - Office/Industrial – Private: Frasers Property Australia Pty Ltd - Investment Properties, Frasers Property Australia Pty Ltd
• Diversified - Office/Retail – Listed: Stockland

Click here to find out more about the Global ESG Benchmark for real estate assets.

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