Global PORTFOLIO

Australian Portfolio

Integrated Capability

Our strong investment management capability complements the world-class product creation capability of the broader Lendlease Group, allowing us to deliver a range of global real estate products and solutions tailored to the needs of institutional investors. We use Lendlease’s asset management, development management, research, capital transactions, project management and construction skills, which give us a competitive advantage in creating, managing and accessing product.

Principles for Responsible Investment (PRI)

The United Nations-supported Principles for Responsible Investment (PRI) Initiative is an international network of investors working together to put the six Principles for Responsible Investment (‘the Principles’) into practice. The Principles aim to help integrate the consideration of environmental, social and governance (ESG) issues by institutional investors into investment decision-making and ownership practices, and thereby improve long-term returns to beneficiaries. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system. 

Lendlease’s Investment Management business was the first global specialist property investment management company to become a PRI signatory in November 2007.

All signatories are required to participate in the PRI’s annual Reporting and Assessment process. In July 2018, Lendlease received positive feedback on its most recent PRI submission, achieving an A+ rating for the PRI’s Strategy & Governance module (scoring 29 of 30 available points) and an A+ rating in the Property module (scoring 42 of 42 available points).

A copy of Lendlease’s 2018 Transparency Report is available here.

GLOBAL REAL ESTATE SUSTAINABILITY BENCHMARK (GRESB)
GRESB is a voluntary, investor led benchmarking tool that assesses the sustainability performance of property portfolios, globally. The tool covers environmental, social and governance aspects of property funds, existing buildings, new development and major refurbishments. Each participant achieves an overall score on a scale of 0–100, and also a score for its performance in each of GRESB’s dimensions – Management & Policy, Implementation & Measurement, New Construction & Major Refurbishment, Health & Wellbeing and Resilience.

Lendlease believes that its participation in the GRESB survey provides clarity and transparency on the ESG performance of its property funds and assets on a globally consistent basis, and believes that GRESB provides necessary focus and direction for the real estate sector.

In 2018, several funds in Lendlease's Investment Management business were recognised as leaders in responsible property investment by GRESB. Australian Prime Property Fund Commercial (APPF Commercial) was ranked first globally of all 874 respondents. This is the fourth time that APPF Commercial has attained the top ranking, having achieved the same result in 2014, 2015 and 2017. Lendlease International Towers Sydney Trust (LLITST) was ranked second overall globally and second in the office sector across listed and unlisted funds. Lendlease One International Towers Sydney Trust (LLOITST) was ranked first of 29 respondents in the GRESB developer assessment category. Australian Prime Property Fund Retail (APPF Retail) was ranked first in the retail sector across listed and unlisted funds and an overall rank of fifth out of 874 respondents. Lendlease Sub-Regional Retail Fund (LLSRF) also achieved strong results, ranked second in the global retail sector across listed and unlisted funds and an overall global rank of eighth. APPF Industrial was ranked second in the Oceania private unlisted industrial fund category. 

Detailed GRESB results are disclosed on the respective fund pages.
Green Building Certification
We are committed to the use of green rating tools and labels, where they exist, to benchmark and disclose the ESG performance of our assets. In Australia, we use Green Star, NABERS and WELL.

Green Star is a comprehensive, national, voluntary sustainability rating system that evaluates the design, construction and operational performance of buildings and communities, and is administered by the Green Building Council of Australia. The Green Star rating tools assess nine impact categories associated with the environmental and social impact of buildings, assigning credits to various design and operation features of the building.

The National Australian Built Environment Rating System (NABERS) is a national, voluntary initiative managed by the NSW Office of Environment and Heritage. There are a range of rating tools covering energy, water, waste and indoor environment for a range of asset types, including Offices, Shopping Centres, Data Centres, Hotels and Homes. Ratings can be achieved on a scale of 0–6 Stars in half-star increments, where 3 Stars represents ‘Industry Average’ and 6 Stars represents ‘Exceptional Performance’.

The WELL Building Standard® is an evidence-based system for measuring, certifying and monitoring the performance of building features that impact health and well-being. It's administered by the International WELL Building Institute™ (IWBI), and covers seven concepts: air, water, nourishment, light, fitness, comfort and mind. Platinum, gold and silver WELL ratings can be achieved for buildings including tenant spaces, and WELL Core and Shell Compliance can be achieved by building owners for building aspects under landlord control.

Building certifications are disclosed on the respective fund pages.

Investment Management
Asia

Investment Management
Europe