Property Australia

Australia leads GRESB for 10 years

PROPERTY AUSTRALIA November 24, 2020

Australia’s property industry has retained its world-leading position on environmental, social and governance performance, after topping the GRESB table for the tenth straight year.

Three key takeaways:

  • The Oceania region has topped the GRESB Real Estate Benchmark global rankings – the international benchmark for ESG performance of real estate and infrastructure investments.
  • Global participation in the 2020 Assessment grew by 22 per cent to cover 1,229 portfolios worth around AUD $6.6 trillion AUM and covering more than 96,000 assets across 64 countries.
  • The average score for the Oceania region was 77, ahead of the Asia region on 72, followed by Europe at 69.5 and the Americas at 69. The 2020 scores were slightly lower than those reported for 2019, based on changes in this year’s reporting structure and scoring weights.

“Australia’s property industry continues to lead the world on ESG initiatives,” says the property Council’s chief executive Ken Morrison.”

“Our companies are making the investment in sustainability and supporting the transition to a low-carbon, more sustainable and resilient future, often well ahead of the baseline set down in government policy.

“We operate in a global market where ESG performance is deeply scrutinised and highly valued by investors.

“Australian property companies are among the best in the world in this respect, and through innovation and investment they are leading the transformation of our built environment to a sustainable and net zero emissions future,” Morrison said.

This year’s GRESB results were based on some fundamental changes to assessment methodology which makes comparisons with previous individual company scores challenging and also led to an overall small decline in average scores.

“It is important for investors, media and the market to recognise the significance of these methodological changes and their impact on individual results,” Morrison said.

“The Property Council looks forward to working with GRESB and our members to ensure the benchmark further evolves to reward demonstrated leadership in real performance, measuring the industry’s contribution to mitigating climate change impacts and the many other significant ESG challenges we face.“

View our media statement here.