Now in its sixth year, the SPI includes 60 office and shopping centre portfolios, as well as covering public hospitals for the first time, with 133 Victorian Health assets included. The Index offers a unique, whole-of-portfolio view of actual performance across energy efficiency, water efficiency, waste management, indoor environment quality and carbon neutrality. It also tracks progress over time. Read more about this year's Index here.
Find out more, including how to join next year’s Index, below.
NABERS is proud to share these impressive sustainability results and showcase the achievements of these portfolios.
FAQ
What is new this year?
Public hospital ratings from Victoria Health have been included in the SPI for the first time this year.
What’s the definition of a portfolio in this report?
A portfolio consists of two or more buildings with NABERS ratings owned by the same company. These buildings must have the same rating type (for example, Energy or Water) and be the same building type (for example, Offices or Shopping Centres).
How have the verified portfolio ratings been calculated?
Offices
To calculate Office Energy or Water results for portfolios, we considered the portfolio’s ownership share of each building, along with the star rating and size (NLA and rated area) of individual buildings. These factors were then used in the ‘weighted average’ calculation to ensure that individual buildings have an appropriate contribution to the final Portfolio Rating. The portfolios are ranked based on the Portfolio Rating result, and the percentage of the portfolio rated (Rating Coverage).
The percentage of an office portfolio rated is calculated using ‘Rated NLA’ for rated offices and ‘Total NLA’ for unrated assets.
Shopping Centres
To calculate Shopping Centre Energy or Water results for portfolios, we considered the portfolio’s ownership share of each centre, along with the star rating and size (GLAR and rated area) of individual centres. These factors were then used in the ‘weighted average’ calculation to ensure that individual centres have an appropriate contribution to the final Portfolio Rating. The portfolios are ranked based on the Portfolio Rating result, and the percentage of the portfolio rated (Rating Coverage).
The percentage of shopping centre portfolio rated is calculated using ‘Rated GLAR’ for rated assets and ‘Total GLAR’ for unrated assets.
Public Hospitals
The Energy and Water results were calculated for two grouping types: Peer Groups and Health Services.
We considered the number of OBDs (Occupied Bed Days) that were available for both grouping types, along with the star ratings of individual health facilities. These factors were then used in the 'weighted average' calculation to ensure that individual buildings have an appropriate contribution to the final Peer Group Rating and Health Service Rating.
The percentage of Peer Group or Health Service rated is calculated using the OBDs.
What about portfolios with mixed asset types i.e. Offices and Shopping Centres?
In the report we’ve separated out Offices and Shopping Centre ratings – even if those ratings belong to the same portfolio. This is because these two sectors are inherently different and cannot be compared or grouped together.
Energy ratings for office buildings are mandatory for all premises with NLA > 1000m2. This has resulted in a much higher average star rating for office buildings than shopping centres where all ratings undertaken are still voluntary and not always completed on an annual basis.
Does the report include whole building ratings, base building ratings or both?
The report includes both. The majority of ratings in the report are base building ratings. However, Property NSW’s portfolio rating is the only portfolio comprised mostly of whole building ratings.
Does the portfolio report include ALL companies with portfolio ratings?
No. In November 2023 we invited all portfolios who have rated with NABERS to participate in the report. 26 individual companies have made their results public in the report.
How often will the report be produced?
The report will be produced every year.
How can my company take part in the next report?
Email nabers@environment.nsw.gov.au for more information.
Where can I find more information?
See the Portfolio Rules for full details on the methodology behind each calculation.
Glossary
Terms from the Index
- The Total Portfolio Area - consists of the total Net Lettable Area or NLA (for Offices) or the Gross Lettable Area - GLAR (for Shopping Centres) of a building, multiplied by the percentage ownership of the building. The result is then aggregated at a portfolio level.
- NLA - Net Lettable Area (for Offices)
- GLAR - Gross Lettable Area Retail (for Shopping Centres)
- OBDs - Occupied Bed Days (for Public Hospitals) are the total number of bed days of all admitted patients accommodated during the Rating Period. OBDs are used to adjust for the activity level within a hospital.
- Peer Group (for Public Hospitals) - Hospitals are classified according to their National Peer Group. The eligibility of the peer groups for a NABERS rating have been determined through statistical validation, type of service provided and peer group data analysis.