Australia Tops Global Sustainability
According to the Global Real Estate Sustainability Benchmark’s (GRESB) 2017), Australia and New Zealand real estate sectors topped the world for sustainability.
The report surveyed 850 property companies across the globe with real estate funds accounting for 77,000 assets. This also valued at over $USD 3.7 trillion. Specifically, GRESB examined 66 companies and funds in both countries. The companies represented around $USD 164 billion in assets under management. More importantly, it’s important to note that the representation increased by 27%.
This means that the A/NZ region can be considered the fastest GRESB participation area.
Also, the funds and companies based in the two regions bested all other regions for seven years straight. The average GRESB score of the two is 73 out of 100 compared to 63 global average.
“Investor demand for transparency will further enhance how ESG-related risks are managed by Australian and New Zealand property companies and fund managers, empowering them to adopt leading sustainability practices,” explained Head of Asia Pacific at GRESB Ruben Langbroek.
“Looking at the results, the region is already performing at a high standard. We see that 94% of regional companies and funds that reported to GRESB are already disclosing their sustainability performance to stakeholders. There is a strong focus on social and governance aspects; 97% have a policy on diversity and equal opportunities, 94% include sustainability-specific requirements in their lease contracts with tenants, while 89% have a community engagement program in place.”
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