The NABERS Sustainable Portfolios Index 2026 signals a shift from measuring individual assets to managing performance at scale.
Now in its eighth year, the NABERS SPI includes 31 companies representing 67 portfolios across offices, shopping centres, and hotels.
Where 2025 marked a milestone with the introduction of hotel portfolios, 2026 represents an expansion, with 9,600 hotel rooms, 8.2 million sqm of office floor space and 6.3 sqm of shopping centre space now captured.
“The Sustainable Portfolios Index continues to evolve as a tool for transparency and leadership,” says NABERS Director, Magali Wardle. “What we’re seeing in 2026 is not just more participants, but broader participation across assets, sectors and metrics.”
Growing scale and market coverage
NABERS, the National Australian Built Environment Rating System, was established in 1999. Over the last two decades, NABERS has helped property owners save more than $2.2 billion in energy costs alone.
The NABERS SPI 2026 includes 31 companies across 67 portfolios:
- Offices: 26 companies with 48 portfolios
- Shopping centres: 9 companies with 16 portfolios
- Hotels: 3 companies with 5 portfolios
Hotel owners build momentum
Following the introduction of hotel portfolios in 2025, participation has grown to 5 portfolios across 3 companies; 36 hotels were part of SPI 2026, up from 25 in 2025.
CapitaLand ranked first in both Energy and Water for the second consecutive year, with its Water rating improving from 3.6 to 3.8 stars.
New entrant Pro-Invest Group join returning participants CapitaLand and the Schwartz Family Company.
This expansion reflects a broader shift in how leading hotel operators approach sustainability – as a core component of asset performance and guest experience.
“As both asset owner and asset manager, we participate in the NABERS Sustainable Portfolios Index because it brings rigour and comparability to how we assess performance across our hotel portfolio,” says Cindy Van Der Wal, Senior ESG & Communications Manager at Pro-invest Group.
“More than a point‑in‑time result, NABERS ratings provide the insight needed to embed continuous improvement into our asset management decisions, strengthening operational performance and the quality of asset and experience delivered for guests.”
Office portfolios lift performance across all metrics
The NABERS SPI 2026 Office Energy Index includes 402 rated assets, covering approximately. 8.2 million sqm – around 26% of the national office market.
Charter Hall has the highest portfolio coverage for the Energy Index, with more than 1.5 million square metres of office space assessed.
“NABERS ratings allow Charter Hall to independently measure our progress, validate performance and align with emerging trends for real estate,” says Andrew Cole, Group Head of ESG with Charter Hall.
“Insights we gain from our NABERS rating are increasingly informing strategic asset planning, as well as support the way we leverage our entire portfolio to drive operational savings, inform investment decisions and support sustainable finance transactions.”
Office Energy
Three portfolios share the top spot at 5.6 stars: Charter Hall (Office Trust No. 3); Walker Corporation (Parramatta Square) and Quality Green Group.
A strong group follows at 5.5 stars: Cbus Property; Walker Corporation (Collins Square); Charter Hall (Wholesale Property Trust and Long WALE Fund); Lendlease (Barangaroo International Towers); and QIC Real Estate (Office Fund).
“These results point to a sector increasingly committed to continual improvement and reinforcing a core NABERS principle: measurement drives better management,” Ms Wardle says.
Indoor Environment
Four portfolios achieved 6.0 stars: Walker Corporation (Parramatta Square and Collins Square); Charter Hall (Wholesale Property Trust); and Brookfield Property Partners.
"NABERS Indoor Environment ratings are important to us as they provide a consistent benchmark to measure and assess the indoor environment attributes of our properties that directly impact tenants and occupants. When considered alongside NABERS Energy ratings, we can demonstrate that our buildings can deliver high-quality environments that support tenant wellbeing, comfort, and productivity, whilst also being energy efficient," says Danny De Sousa, Vice President ESG & Innovation, Brookfield Properties.
Office Water
Lendlease (Barangaroo International Towers) leads with 5.4 stars, followed by Charter Hall (Long WALE Fund) with 5.2 stars; and Walker Corporation (Parramatta Square), Castlerock Services Australia Fund and Growthpoint Properties Australia Limited with 4.9 stars.
Office Waste
Cbus Property and Rest Direct Property Holding Trust share first place at 5.1 stars, with Charter Hall (Charter Hall Prime Office Fund) close behind at 5.0 stars.
Renewable Energy Indicator (REI)
Charter Hall’s PGGM Industrial Partnership 2 (CHPIP2) Fund recorded the highest REI in the office sector at 91.94%, followed by Vision Super’s Local Government Property Fund at 89.15%.
Shopping centres strengthen performance
The NABERS SPI 2026 Shopping Centre Energy Index includes 16 portfolios and 115 assets.
New entrant Elanor Investors reflects the ongoing expansion of NABERS benchmarking across the retail sector.
“This year’s SPI highlights how shopping centre portfolios are using NABERS ratings to drive sustained improvement. By benchmarking performance across energy and water, shopping centre owners are building more efficient, resilient assets and setting new standards for environmental leadership in the sector,” says Magali Wardle.
Shopping Centre Energy
QIC Real Estate Active Retail Property Fund leads with 5.8 stars. A strong group follows, with Cbus Property at 5.0 stars, and 4.8 stars for Lendlease (Australian Prime Property Fund Retail) and Vision Super (Local Government Property Fund).
Shopping Centre Water
QIC Real Estate (Active Retail Property Fund) also leads the Water Index with 5.2 stars, followed by Vision Super (Local Government Property Fund) 4.3 stars and QIC Real Estate (Core Plus Fund) at 3.9 stars.
QIC Real Estate’s Active Retail Property Fund stands out as a cross-category leader, topping both Energy and Water indexes and recording a significant uplift in water performance year-on-year.
A shift towards full participation
One of the clearest signals in the 2026 SPI is the growing number of organisations committing to full participation across all NABERS indexes.
This year, nine companies report across energy, water, indoor environment and waste.
Government portfolios like Property and Development NSW also report widely and consistently, despite the challenges associated with older building stock.
The SPI dashboard continues to evolve, with updates in 2026 to improve usability. Asset lists show the number of rated, unrated and exempt buildings, giving users a faster, more transparent view of portfolio coverage.
“A high NABERS rating is not only evidence of sustainability. It is a pathway to finance, a signal to investors, a point of engagement with tenants, and increasingly, a requirement for market participation. The SPI reflects how expectations are shifting and evolving,” Magali Wardle concludes.
Head to the NABERS Sustainable Portfolios Index 2026 to explore the full data dashboard.