Investment Management | US | Lendlease

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 2019, 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 2020 Transparency Report is available here.

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 2019, 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 964 respondents. This is the fifth time that APPF Commercial has attained the top ranking, having achieved the same result in 2014, 2015, 2017 and 2018. Lendlease International Towers Sydney Trust (LLITST) was ranked third overall globally and third in the office sector across listed and unlisted funds. 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 964 respondents. Lendlease Sub-Regional Retail Fund (LLSRF) also achieved strong results, ranked third in the global retail sector across listed and unlisted funds and an overall global rank of 10th. APPF Industrial was ranked first in the Oceania private unlisted industrial fund category.

Detailed GRESB results are disclosed on the respective fund pages.

As a fund manager, Lendlease has a duty to act in the interests of its Unit Holders.

In this fiduciary and stewardship role, we believe that environmental, social and governance (ESG) factors form an integral part of the management process in our property portfolios. We acknowledge that achieving safety, sustainability and diversity outcomes will deliver long term value for our investors, the environment and our communities.

Lendlease's company-wide sustainability governance framework provides discipline and focus for its efforts and activities on the matters most important to us and our stakeholders.

In line with Lendlease's signatory commitment under the United Nations supported Principles for Responsible Investment (PRI), we are committed to creating value for all stakeholders in everything we do by delivering positive economic, environmental and social outcomes whilst operating in an environment that is Incident & Injury Free.

Click here to review Lendlease's Responsible Property Investment Policy