Frasers Property Australia has been named the Overall Global Sector Leader among developers in the GRESB Developer Assessment rankings unveiled today.
- Frasers Property Australia recognised as a global sustainability leader
- Named Overall Global Sector Leader by GRESB in the Developer Assessment rankings
- Named Global Sector Leader by GRESB in the Real Estate Assessment rankings
SYDNEY, 9 SEPTEMBER 2019
Frasers Property Australia has been named the Overall Global Sector Leader among developers in the GRESB Developer Assessment rankings unveiled today. The company achieved a score of 96 out of 100, compared to the Peer Average score of 78, and was ranked 1st of 41 developers.
In addition, Frasers Property Australia has been named the Global Sector Leader for its investment property portfolio in the Real Estate Assessment rankings, in the Global / Diversified - Office / Industrial / Non-listed category, ranking 1st of 24 portfolios.
GRESB 2019 Developer Assessment - Frasers Property Australia
- Score 96 out of 100, up from 94 last year
- Overall Global Sector Leader (Global / Developer), ranked 1st of 41 developers
GRESB 2019 Real Estate Assessment - Frasers Property Australia
- Score 91 out of 100, up from 88 last year, reflecting 7 years of year-on-year improvement
- Global Sector Leader (Global / Diversified - Office / Industrial / Non-listed), ranked 1st of 24 portfolios
- Overall Regional Sector Leader, ranked 1st of 8 portfolios in Asia-Pacific / Diversified - Office / Industrial
GRESB provides environmental, social and governance benchmarks for real estate and infrastructure portfolios and assets worldwide.
Frasers Property Australia’s Global Sector Leadership in GRESB’s Real Estate Assessment rankings reflects the performance of its investment property portfolio, comprising office, industrial and retail assets, with a gross asset value of A$1,696 million1.
Frasers Property Australia’s top ranking in the Developer Assessment rankings reflects its development activities in 2018, across residential, commercial, industrial and retail asset classes.
The results are based on Frasers Property Australia’s performance over the 2018 calendar year, a year in which Frasers Property grew its green energy business, Real Utilities.
Also in 2018, Frasers Property Australia joined the global Net Zero Carbon Buildings Commitment, meaning every new building it creates must operate at net zero carbon from 2030, and all its existing buildings must operate at net zero carbon by 2050.
However, Frasers Property Australia has set itself bolder ambitions. It plans to be zero carbon in development and operation by 2028.
Lisa McCutchion, General Manager - Innovation Communication & Sustainability, Frasers Property Australia, says the GRESB ranking validates its approach to achieving these ambitious targets.
“We are rightly proud of these exceptional results, which reflect investments in sustainability which create value for our business, our clients and our tenants,” Ms McCutchion says.
“But we’re not resting on our laurels. Our ambition to be zero carbon in development and operation by 2028 requires ongoing commitment, innovation and powerful partnerships.
“The property industry has a vital role to play in increasing the pace of change needed for our nation to meet its climate change obligations. As a leader in the industry, we are mindful of our responsibility and we are facing up to the challenge.”
Earlier this year, Frasers Property Australia received approval from the Science-Based Targets partnership for its greenhouse gas emission reduction targets. Under the approved targets, Frasers Property Australia has committed to reduce its scope 1 and 2 greenhouse gas emissions by 50% per square metre, and its scope 3 greenhouse gas emissions by 25% per square metre, by 20282.
Scope 1 and 2 emissions refer to greenhouse gas emissions which are directly owned or controlled by Frasers Property Australia, including the operation of assets and the generation of purchased electricity. Scope 3 emissions refer to those that occur in the value chain, including through a customer’s use of the asset, such as a tenant or purchaser.
For more information about Frasers Property Australia’s approach to sustainability, visit A Different Way.
1 As at 31 December 2018
2 Based on a 2017 base year
FOR MEDIA QUERIES, PLEASE CONTACT:
Wise McBaron Communication