Lendlease Australia funds top global sustainability rankings

15 Oct 2021

Lendlease Australia’s office and retail funds have been recognised as the world’s most sustainable in the 2021 GRESB Real Estate Assessment.

International Towers Sydney at Barangaroo South achieved the global top ranking for office funds, with APPF Retail achieving the global top ranking for retail funds.   

Overall, a Lendlease fund has achieved the world’s most sustainable office real estate fund for seven of the last eight years. Lendlease funds have also been ranked the most sustainable in Australia across Office, Retail, and Retirement Living. 

Leading GRESB results for Lendlease Australia in 2021: 

Office (Australia high rise): 
First: Lendlease International Towers Sydney Trust (Barangaroo South precinct) – also ranked as the global office sector leader (all office and non-listed). It is also the first real estate fund in GRESB’s history to achieve a score of 100 per cent.
Second: Australian Prime Property Fund Commercial – also a global sector leader for office.
Third: Lendlease One International Towers Sydney Trust (Barangaroo South precinct).

Retail (Australia/New Zealand Retail):
First: Australian Prime Property Fund Retail.
Third: Lendlease Real Estate Partners New Zealand.

Retirement Living (Asia Pacific residential non-listed):
First: Lendlease Retirement Living.

Industrial (Australia industrial):
Second: Australian Prime Property Fund Industrial.

Earlier this year, Lendlease launched world leading sustainability targets through its Mission Zero campaign, becoming one of the world’s first property companies to commit to eliminating carbon emissions. The clear targets are: 
  1. Achieving net zero carbon emissions by 2025 for Scope 1 emissions produced directly from the fuels we burn and Scope 2 emissions from the power we consume.
  2. Achieving absolute zero carbon emissions by 2040 by eliminating all emissions, including Scope 3 emissions generated indirectly from our activities and the materials we procure, without the use of offsets.
In December 2020 Lendlease’s national office portfolio achieved net zero carbon certification, five years ahead of Lendlease’s target for funds to be net zero carbon by 2025 for Scope 1 and Scope 2 emissions.

Quotes attributable to Dale Connor, CEO Lendlease Australia 

“Every year we’ve continuously improved sustainability outcomes across our assets, and investors are also increasingly aligning their own investments with sustainability, social and environmental outcomes.

“Strong sustainability targets, along with net zero carbon commitments, are critical in continuing to attract both capital partners and quality tenants. Buildings that integrate the physical risks of climate change will increasingly contribute to investment performance and provide a competitive advantage. 

“GRESB provides us with an independent and transparent benchmark that helps us manage sustainability risk and drive innovation.”

Quotes attributable to Ruben Langbroek, Head of Asia Pacific, GRESB

“We congratulate Lendlease on its extraordinary 2021 GRESB results, having achieved global top rankings in this year’s benchmark. It illustrates their commitment to respond to the environmental and social challenges we face as an industry. 

“Lendlease’s efforts show that we can transition to a net-zero built environment that provides positive outcomes to users, local communities and society at large. But also, that leadership on ESG can go hand in hand with providing financial benefits to institutional investors.

“Lendlease’s GRESB results are a clear indication that its sustainability ambitions are more than just words. They have laid the foundations for a resilient, climate positive, and circular built environment.”

About GRESB

GRESB provides an independent and globally consistent standard of measuring ESG outcomes in real estate. Participation in GRESB continues to grow every year. In 2021, there were 1,520 entities that participated, covering nearly 117,000 properties, and representing US$5.7 trillion in global assets under management.

ENDS

For more information please contact: 

Tessie Vanderwert  
General Manager, External Affairs, Lendlease
[email protected]
+61 428 483 828