This article is from the Australian Property Journal archive
INVESTA has moved closer to transitioning to 100% green debt after announcing its largest green debt transaction to date.
The refinancing of Investa Gateway Office (IGO)’s Syndicated Debt Facility, for $1.2 billion, was certified by the globally recognised Climate Bond Initiative (CBI).
It’s a major accomplishment for the company as they aim to achieve decarbonisation and their target of net zero scope 1 and 2 emissions by 2025.
Chief financial officer of Investa Merran Edwards says that reaching 100% green debt is a major achievement of one of Investa’s huge goals.
“Since 2017, Investa has cumulatively closed more than $3.4 billion in green debt, with the IGO transaction taking us to 82% green debt across Investa’s core portfolio.”
“Following this refinance, we are well on our way to achieving our target of 100% green finance across our core funds by 2025,” Edwards said.
Oxford Properties, an investor in Investa Gateway Offices (IGO) have had their expectations exceeded and head of Australia at Oxford Properties, Alec Harper couldn’t be more pleased.
“Leveraging Investa’s Australian office management expertise, today’s announcement is further testament to Oxford and Investa’s commitment to creating economic and social value through real estate,” he said.
“Driven by a focus on innovative projects, technology and decarbonization, Oxford continues to take industry-leading positions to drive sustainable solutions in our buildings. This approach has resulted in a 37% reduction in carbon intensity across our global portfolio since 2015 – surpassing our public goal of 30% by 2025 ahead of schedule.”
“Achieving 100% green debt across IGO validates its place at the leading-edge of sustainability, aligning the portfolio with our global Net Zero by 2050 target,” Harper said.
Link Real Estate Investment Trust Hong Kong (Link) entered the green financing market in 2016 and they entered a stake of 49.9% of IGO earlier this year.
Chief operating officer Greg Chubb isn’t looking back after linking up with Oxford and Investa.
“We are happy to have located strategic partners like Oxford and Investa, who share the same vision and commitments to developing green, healthy and smart buildings together.”
