NABERS partners with GRESB to improve sustainability performance in the real estate sector
The NSW Office of Environment and Heritage (OEH) has announced a formal partnership with GRESB, the leading global standard for portfolio-level sustainability assessment in real estate.
GRESB assesses environmental, social, and governance (ESG) attributes and performance of property funds around the world. In 2014, GRESB covered 637 funds representing AUD2.7 trillion in property value. The GRESB benchmark addresses issues including corporate sustainability strategy, policies and objectives, environmental performance monitoring, and the use of high-quality voluntary rating tools such as NABERS.
Mr. Tom Grosskopf, Director of the Metropolitan Branch at the NSW OEH said, “GRESB integrates and translates a diverse range of measurement standards into meaningful and material sustainability information that can be used by the international investment community. For that reason, GRESB has become central to the global discussion on sustainability performance benchmarking in the real estate sector.”
“As a highly successful program that has been operating for over sixteen years, NABERS has a lot of insights to contribute to this discussion. Our partnership with GRESB will help ensure our knowledge and experience is shared, and that the Australian property industry is represented.”
NABERS is the most widely used building rating tool in Australia, with over 2,000 accredited ratings every year, including ratings for offices, hotels, shopping centres and data centres. The program has also been licensed in New Zealand. The 2014 GRESB Survey results confirmed that Australia and New Zealand lead the world in overall sustainability performance.
Peter James, General Manager of Commercial Services at ISPT said, “The 2014 GRESB results confirmed Australia and New Zealand as leaders in overall performance, with ISPT ranked 8th of 637 participants globally and 1st of 9 within the Australian Region, Peer Category: Diversified – office/retail.”
“Our investors are relying on the GRESB Survey to measure our sustainability performance against our peers. So it is encouraging to see that the government through the NABERS framework will be forming an alliance with GRESB to recognise NABERS ratings.”
“ISPT has been working with and utilising the NABERS performance measurement tools for our assets for a number of years, with all of our office properties measured for energy, water and indoor environment performance. To have this recognition on a global platform will further increase transparency for property and validate our sustainability standing for our stakeholders.” He said.
Ruben Langbroek, Head of Asia Pacific for GRESB explains: “Our mission is to enhance and protect shareholder value by evaluating and improving sustainability best practices in the real estate sector. Benchmarking provides clarity and transparency, allowing superannuation funds, insurance companies, banks, and other institutional investors and lenders to incorporate material sustainability information into their investment decision-making. For Australia, the use of building certification schemes, as well as environmental rating tools such as NABERS, contributes to a more efficient, more sustainable built environment. Because in the end, if you can’t measure it, you cannot manage or improve it.”
For further information on GRESB, and how to participate in the 2015 Survey, please go to www.gresb.com. For further information on NABERS, please contact Frank Roberson at firstname.lastname@example.org.
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