This article is from the Australian Property Journal archive
DIVERSIFIED property group Lendlease’s Australian Prime Property Fund Retail (APPF Retail) has been ranked Australia’s most sustainable unlisted retail fund in the 2023 GRESB Real Estate Assessment, while Frasers Property Australia has maintained the highest-possible five-star GRESB rating for a seventh consecutive year.
GRESB is an independent organisation providing validated ESG performance data and peer benchmarks.
APPF Retail was also ranked as a “Global Sector Leader in Retail”, and this year marked the fifth time in the last six years that APPF Retail has ranked first in its peer group and first in Oceania Retail.
It said this was achieved through increased collaboration with tenants and reducing its energy and greenhouse gas emissions through operational efficiencies and capex upgrades. At Macarthur Square in Sydney, total waste being diverted from landfill increased by 10% in 2022 through the management team’s close engagement with tenants on food organics distribution.
In addition, Queensland’s Sunshine Plaza reduced its electricity consumption by 7% in 2022 over the prior year through active operational engagement, including the upgrade of HVAC plant and undertaking asset performance tuning to improve energy efficiency.
APPF Retail also maintained its 5 Star GRESB ranking, which represents the top 20% of all participants in the GRESB assessment.
“Buildings that integrate the physical risks of climate change will increasingly contribute to investment performance and provide a competitive advantage. Over the coming year we’ll be looking to rollout solar across the rooftops of many of our assets to help meet the Fund’s net zero targets by 2025,” said Anne MacSporran, fund manager, APPF Retail.
Frasers Property’s Australian portfolios maintained their 5 Star rating for yet another year.
Frasers Property is entirely financed by sustainability-linked sources in Australia after it secured a five-year $340m and US$75m syndicated sustainability-linked loan earlier this year.
Frasers Property Industrial achieving Regional Sector Leader status for Oceania in Industrial, and Frasers Property Industrial Australia ranked first among peers in the Industrial: Tenant Controlled – Core category.
The company maintained its leading performance in both the Development (Diversified Non-listed) and Standing Investments (Diversified Office/Retail Non-listed) categories.
“It’s pleasing to see international assessments like GRESB becoming more and more competitive, and the incremental improvements Frasers Property Australia continues to make enable us to verify our leadership position against established, globally-recognised metrics,” said Anthony Boyd, Frasers Property Australia CEO.
