The NABERS Sustainable Portfolios Index (SPI) offers a unique view of commercial property portfolio performance across energy efficiency, water efficiency, waste management, indoor environment quality and carbon neutrality.
This year’s SPI features a total of 67 Australian commercial property portfolios from across the office, shopping centre and hotel sectors.
The 2026 NABERS SPI is the 8th edition of the Index. We’re proud to share our participants’ impressive sustainability results and showcase their commitment to sustainability across their portfolios.
For a summary of this year’s results, explore the NABERS SPI 2026 highlights article. Otherwise, choose a sector below to view the full results.
To view last year’s edition of the NABERS SPI, explore the 2025 NABERS SPI.
Frequently Asked Questions
What’s the definition of a portfolio in this Index?
A portfolio consists of two or more buildings with NABERS ratings that are owned by the same legal entity. 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 are the Portfolio ratings calculated?
Hotels
To calculate Hotel (Energy or Water) results for portfolios, we considered the portfolio’s ownership share of each building, along with the star rating and size (total number of guest rooms) 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.
Offices
To calculate Office (Energy, Water, Indoor Environment and Waste) 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.
For more information on how Portfolio ratings are calculated, visit the Portfolio rating rules.
How are portfolios with mixed asset types managed?
In the Index, we’ve separated out Offices and Shopping Centre ratings – even if those ratings belong to the same portfolio. This is because these two building types are inherently different and cannot be compared or grouped together.
Does the Index include whole building ratings, base building ratings or both?
The Index includes both. Most ratings in the report are base building ratings.
Does the Index include ALL companies with NABERS-rated assets?
No. Participation in the NABERS SPI is voluntary so not all portfolios are listed.
How often is the Index produced?
The Index will be produced every year. This year is the 8th edition of the NABERS SPI.
What is new this year?
In the asset list sections, a summary of each portfolio is provided to show the number of assets that are rated, unrated, exempt and certified as Carbon Neutral.
How can my company take part in the next edition?
Submit an expression of interest for the 2027 NABERS SPI.
Where can I find more information on the Portfolio rating calculation?
See the Portfolio rating rules for full the methodology behind each calculation.
Why are some premises exempt from the Portfolio rating calculation?
Assets may be exempt from the Portfolio rating calculation if they are ineligible for a NABERS rating or are unusual for their space type. Exempt assets are excluded from the total area calculation. Exemptions apply to one reporting period only, and entities must re-apply for an exemption in each reporting period.
Do you have a question not addressed in our FAQs? Contact us.
Glossary
Terms from the Index
% of Rooms rated - the % of hotel rooms rated is calculated using ‘Rated Guest Rooms' for rated hotels and ‘Total Guest Rooms’ for unrated hotels.
GLAR - Gross Lettable Area Retail (for Shopping Centres)
NLA - Net Lettable Area (for Offices)
Total Portfolio Area - consists of Rated area for rated buildings, or NLA/GLAR for unrated buildings. This is then multiplied by the ownership % of each building, and the result is aggregated at the portfolio level.
REI % - the proportion of a portfolio's energy from onsite generated renewable electricity and offsite renewable electricity procured.
Electrification % - the proportion of portfolio's energy from electricity (renewable and non-renewable).
Disclaimer
The NABERS Sustainable Portfolios Index (SPI) and NABERS Portfolio ratings may be calculated using information supplied by participating organisations. NABERS relies on this information and does not independently verify all data. NABERS does not warrant or make any representation, express or implied, as to the accuracy, completeness, or fitness for purpose of the NABERS SPI or NABERS Portfolio ratings and does not accept responsibility for any use of the data or portfolio results. To the maximum extent permitted by applicable law, NABERS excludes all liability for any loss or damage (whether direct, indirect, or consequential) suffered as a result of or in connection with the use of or reliance on NABERS SPI or NABERS Portfolio rating data or results. Nothing in this disclaimer excludes, restricts, or modifies any consumer guarantees or rights that cannot be excluded under applicable law.