Lendlease funds in Asia take top spots in global sustainability rankings

  • 17 Oct 2023
  • Lendlease funds achieved 12 global sector leadership awards, and 14 regional sector leadership awards
  • In a first, Lendlease Global Commercial REIT and Parkway Parade Partnership emerge Global Sector Leads in Retail


SINGAPORE, 17 Oct 2023 – Lendlease has once again topped the GRESB1 rankings, leading the way for the built environment industry in Asia. Lendlease Global Commercial REIT (LREIT) and Parkway Parade Partnership emerged joint Global Sector Leaders as well as Overall Regional Sector Leaders in the Retail category. For LREIT, it is its fourth consecutive year as the Regional Sector Leader in Asia Retail (Listed) with the highest rating of 5 stars for its environmental, social and governance (ESG) performance.

Global highlights

In each of the four regions in which Lendlease operates – Australia, Asia, Europe and the Americas – at least one fund achieved a sector lead ranking. The results reflect the business’ commitment to positive environmental, social and governance outcomes across its growing portfolio of funds and assets under management. The results include:

  • APPF Retail ranked first in Australia Retail and achieved global and regional sector leadership status.
  • Lendlease Life Science Partnership ranked first in Americas Technology/Life Science and achieved global and regional sector leadership status.
  • Lendlease MSG 1 ranked first in Italy Office: Corporate: Mid-Rise Office and achieved global and regional sector leadership status.

Creating a sustainable ecosystem for the built environment in Asia

In its journey to achieve the ambitious targets of Absolute Zero by 2040 and Net Zero by 2025 for Scope 1 and 2 emissions, Lendlease continues to demonstrate its leadership and progress in creating meaningful sustainability gains for the built environment industry.

Examples include:

Shaw Tower: In addition to recycling close to 90% of the waste during demolition, the project is implementing Carbon Capture & Utilisation (CCU) technology in its concrete for all superstructures and columns from the second storey, a first for Lendlease projects in Asia.

Paya Lebar Green: Use of Singapore Green Building Product certified “4-Tick” concrete, Carbon Cure concrete, recycled rebar and other sustainability initiatives in the project is expected to achieve a 46% reduction in embodied carbon from baseline scenario based on lifecycle assessment.

The Exchange TRX: Collaborations with suppliers to develop a lower carbon cement mix, replacing 30% Ordinary Portland Cement (OPC) with Ground Granulated Blast-furnace Slag (GGBS), is projected to reduce 25% of embodied carbon for The Exchange TRX.

Singtel Comcentre: Building one of Singapore’s first end-to-end carbon neutral development from design, construction to operations, with plans to recycle 90% of construction and demolition waste and overall 30% reduction in embodied carbon from BCA Green Mark 2021 reference value.

Across Asia: In addition, Lendlease has implemented a low carbon construction schedule into tenders in Japan, Malaysia and Singapore since FY22, and implemented Sustainability Asia Minimum Standards (SAMS) across new, existing operating assets from FY23. This includes Life Cycle Assessment (LCA) across all new projects to enable data from building materials to be collected and benchmarked. 

As part of Lendlease’s sustainability ambitions, it continues to engage stakeholders and tenants to join its green initiatives. Across its properties in Asia, Lendlease has maintained a 100% Green Lease policy since 2009, including regular training for suppliers and tenants on sustainable practices as part of the Code of Conduct.

Lendlease also continues to share best practices and its experiences in creating lasting, sustainable outcomes with the wider built environment industry. Earlier this year, Lendlease supported the first Jurong Lake District (JLD) Innovation Challenge for piloting a smart building management system that predicts and adjusts building temperatures and humidity controls automatically at Jem. 

As part of its commitment to the communities served by Lendlease developments, it continues to engage and educate the public on better sustainability habits including campaigns like “You Won’t Believe it’s Trash 2.0” – with the show-stopping numbers created by budding couturists at various malls across Singapore, accompanied by a textile recycling drive which collected over 3 tons of materials during the campaign.

Setting a higher bar

With the clear progress on its sustainability goals for Scope 1 and 2 emissions, Lendlease recently announced it will accelerate its ambitions for the company and the rest of the industry with the launch of the Lendlease Scope 3 Emissions Protocol at Climate Week NYC.

Scope 3 emissions are indirect emissions that occur in an organisation’s value chain and often make up the majority of an organisation’s carbon footprint. They are especially challenging to address in the real estate sector due to limited guidance on Scope 3 reporting boundaries. 

With the launch of the Protocol, Lendlease is calling for others in the industry – including developers, builders and construction material manufacturers – to turn their focus to addressing Scope 3 emissions, accelerating the shift to a low-emissions future. 

In addition, Lendlease Asia plans to review its Energy Water Waste (EWW) target baselines every five years as an industry best practice.

Quote attributable to Tony Lombardo, Lendlease Group CEO and Managing Director
“GRESB’s 2023 results once again confirm that Lendlease helps set the global benchmark for sustainable performance in real estate. Across the four regions in which we operate – Australia, Europe, the Americas and Asia – at least one of our funds has been named as a global leader in their sector.”

Quote attributable to Justin Gabbani, Chief Executive Officer, Asia, Lendlease
“We are pleased to once again top the GRESB rankings for our properties and funds across Asia. While we have made significant progress in our ambitious sustainability goals, we will continue to push the envelope and build on our successes by sharing our experiences and expertise with all players in the built environment industry. We remain committed to creating thriving and sustainable places for the communities of today and the future around the world.”



For more information: 

Esther Ee

Lau Rong Zun
Omnicom Public Relations Group
+ 65 9230 8919


About Lendlease

Lendlease is a globally integrated real estate group with operations in Australia, Asia, Europe and the United States. 

We create places where communities thrive. 

We are headquartered in Sydney, Australia and listed on the Australian Securities Exchange.

Our core capabilities are reflected in our operating segments of Investments, Development and Construction. The combination of these three segments provides us with a sustainable competitive advantage in delivering innovative integrated solutions for our customers. We are known as 联实 in Chinese. For more information, please visit: 

1GRESB is an independent organization providing validated ESG performance data and peer benchmarks for investors and managers to improve business intelligence, industry engagement and decision-making.