Lendlease recognized by GRESB as Regional Sector Leader for superior ESG performance
- 18 October 2022
Lendlease, a leading global real estate and investment group, announced today it has received Regional Sector Leader recognition from GRESB for earning the top residential ranking in the Americas for 2022. The assessment considered the environmental, social and governance (ESG) performance of the stabilized assets in the joint multifamily portfolio overseen by Lendlease and Aware Super, one of Australia’s largest superannuation funds.
The annual assessment by GRESB – a mission-driven, investor-led organization providing ESG data and reporting services – uses a standardized, globally recognized framework to review the ESG performance of property companies, private property funds, developers and investors that invest directly in real estate.
The Lendlease (US) Multifamily - Americas Residential Partnership had the highest overall GRESB Score among the 105 entrants in the Residential Americas category. The partnership also had the top Performance Score in the Residential Americas category and placed in the top 10 in four other categories. This is also the first year this fund earned five stars from GRESB, a ranking awarded to the top 20% of respondents.
“I’m incredibly proud of the hard work all of our stakeholders have undertaken to achieve this recognition from GRESB, which is widely recognized as the leading ESG benchmark for our industry,” said Sara Neff, Head of Sustainability at Lendlease Americas. “As a company committed to achieving absolute zero carbon across all scopes by 2040, we strive to deliver innovative, sustainable properties whose positive outcomes resonate with forward-looking investors. This honor demonstrates the success we’ve had in doing exactly that.”
Alek Misev, Aware Super’s Senior Portfolio Manager – Property, said: “To have received the Regional Sector Leader recognition from GRESB in the Residential Americas category is testament to our commitment to integrating ESG and being a responsible owner. As one of Australia’s leading superannuation funds with more than AUD$150 billion under management, we are proud to partner with leaders such as Lendlease to prioritize key ESG themes that are material to our 1.1 million members and the investment returns they earn on their retirement savings.”
As a 1.5°C-aligned company, Lendlease has made the ambitious commitment to achieve net zero Scope 1 and Scope 2 emissions by 2025 and absolute zero across Scopes 1, 2 and 3 by 2040 as part of its Mission Zero campaign. To achieve this, Lendlease’s $19.8 billion U.S. development pipeline incorporates industry-leading sustainability practices, such as the use of lower-carbon steel and concrete to reduce the embodied carbon of new structures.
“The investment community’s appetite for portfolios with strong ESG declarations has intensified in recent years, with no signs of satiation in the near future,” said Ben Byrne, Portfolio Manager at Lendlease. “Investors are looking for partners with a proven track record of delivering on sustainability goals, and this latest GRESB assessment affirms Lendlease’s leadership in the real estate industry.”
In addition to its climate-focused goals, Lendlease is targeting the creation of $250 million of social value by 2025. This includes the social value created through the company’s corporate shared value partnerships as well as other programs via the Lendlease Foundation. Lendlease aims for an average social value return on investment of $5 for every $1 the company invests through its partnerships.
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Lendlease (www.lendlease.com) is a leading global real estate and investment group with operations in Australia, Asia, Europe and the Americas. Our purpose is to create places where communities thrive. Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 7,700 employees internationally. Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers.
For additional information, contact:
For Lendlease, contact:
Matt Baker, (312) 267-4512, firstname.lastname@example.org
For Aware Super, contact:
Sara Bradford (61) 478405382, email@example.com
Clippership Wharf, a climate-resilient, mixed-use residential property developed by Lendlease in East Boston. (Credit: Ed Wonsek Artworks)