Australia Funds to go Carbon Neutral

8 Jul 2019

As a Fund Manager of real estate assets, Lendlease has always integrated Environmental, Social and Governance considerations into the operation of our real estate assets. To remain a leader in this space, the business and its Funds are establishing Net Zero Carbon in operation targets for our Funds and Portfolios.

Current commitments are in place for 47 assets, representing $12.63 billion in Gross Asset Value (GAV) across 1,172,900m2. This represents 66 per cent of all GAV for Lendlease Funds Management Australia, with the remaining Retail Funds working through Net Zero Roadmaps, targeting Net Zero Carbon by 2030.  

Timing for achieving Net Zero Carbon in operation  

2021: Lendlease International Towers Sydney Trust (LLITST) – three assets; 

2021: Lendlease One International Towers Sydney Trust (LLOITST) – one asset; 

2021: Lendlease APPF Industrial - 33 assets; 

2025: Lendlease APPF Commercial – 10 assets. 

2030: Lendlease Retail Funds are working through Net Zero Carbon Roadmaps, aligned with achieving Net Zero Carbon in operation  

Progress to Date:

Collectively APPFR and APPFC decreased their energy intensity by 29 per cent* over the last 10 years**. This is a saving of 28,796 MWHh, enough to power 4,142 homes for 1one year^. 

Collectively, APPFR and APPFC decreased their greenhouse gas emissions by 42 per cent* over the last 10 years**. This is a saving of 33,660 tonnes of greenhouse gas emissions, the equivalent of six and a half return flights from Sydney to London^. 

Collectively, APPFR and APPFC decreased their water consumption by 27 per cent * over the last 10 years**. This is a saving of 226,510 kilolitres, the same amount of water required to fill 91 Olympic pools^. 

Focus AreasClimate ActionNature & Pollution

Electricity
*this is based on Like-For-Like consumption
**2008 area is based on LFL area in FY14
^ Based on average NSW household consuming 133.7kWh per week 
 
Emissions
  *this is based on Like-For-Like consumption
**2008 area is based on LFL area in FY14
^ Based on an A380 aircraft with emissions per seat of 10,700kg flying Economy via Abu Dhabi

Water
*this is based on Like-For-Like consumption
**2008 area is based on LFL area in FY14
^Based on a standard 50m length Olympic pool