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Australia and New Zealand real estate assets are leading the world for environmental standards, according to a global ranking.
Companies and funds based here outperformed all other regions in rankings from GRESB, the global real estate sustainability benchmark, with a score of 73 compared to a global average of 63.
The strong showing comes amid increasing investor demand for disclosures around environmental, social and governance concerns, GRESB head of Asia Pacific Ruben Langbroek said
“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,” Mr Langbroek said.
“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. The group also took out the honour for most sustainable development fund globally, jointly awarded to Lendlease International Towers Sydney Trust and Lendlease One International Towers Sydney Trust.
Dexus Wholesale Property Fund was named a global sector leader for diversified office and retail groups, while Stockland was ranked first globally among listed companies for the diversified office and retail sector.
Earlier, Mirvac was named the top real estate group in the Dow Jones Sustainability Index.
Certification programs have been gaining traction, with the Green Building Council of Australia certifying more than 1700 Green Star-rated buildings, fit outs and communities.
Globally, the real estate sector reduced energy consumption by 1.1 per cent and cut carbon emissions by 2.2 per cent in 2017.