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.
“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.“