25 Nov 2020
Frasers Property’s portfolio in Australia tops GRESB sustainability rankings – two sector lead positions
SYDNEY, 25 NOVEMBER 2020
Frasers Property in Australia1 is very pleased to announce that as part of the 2020 GRESB results, the company attained sector lead status for Diversified – Office/Industrial Global Non-listed and received a 5 Star rating for the entire portfolio.
For the second consecutive year, Frasers Property also achieved the sector lead position for Global Developer Residential (including industrial, commercial, residential and retail assets) in Australia.
An overall score of 96 points out of 100 was attained for the development portfolio, while the commercial and industrial existing portfolio achieved 89 from 100. It is also the eighth year of participation in the GRESB Real Estate Assessment.
Additional accolades within Frasers Property included Singapore Exchange Mainboard-listed Frasers Logistics & Commercial Trust2 (“FLCT” and the manager of FLCT, the “REIT Manager”), which has been accorded ‘Industrial – Global Listed Sector Leader’ by GRESB. This marks the third consecutive year that the logistics and industrial portfolio of FLCT has emerged as the global industrial leader.
Reini Otter, Chief Executive Officer for Frasers Property Industrial comments, “GRESB has become a universal benchmark for performance against our international peers, including Australian and European. The recent accolades further reinforce our position as a multi-national sustainability leader. Achieving sector lead status for the second consecutive year is a result we are very proud of.
“The first-place rankings further validate the importance of our role in creating future-focused sustainable solutions that benefit our customers and the planet.”
Robert Wallace, Chief Executive Officer of the REIT Manager, said, “We are thrilled that FLCT has been recognised for the third-year running as a global leader in industrial sustainability performance as it bears testament to our continued focus on sustainability. Our commercial portfolio also demonstrated a commendable showing this year, retaining its four-star GRESB rating and Green Star status.
“As one of the largest REITs listed on the Singapore Exchange, we believe that our integration of ESG factors into our business strategy not only demonstrates our commitment to a green future, but also brings sustainable commercial benefits to our properties, which will contribute to long-term value for our stakeholders.”
Roxana Isaiu, Director Real Estate at GRESB comments, “Participation in the 2020 Real Estate Assessment grew significantly from last year to cover 1,229 real estate portfolios worth more than US$4.8 trillion AUM. While we still have many challenges to overcome on our way to a more sustainable future, it’s inspiring to see this collective commitment to ESG transparency and collaboration from across the global real estate industry.”
In line with the GRESB achievements, Frasers Property Industrial has set three ambitious sustainability targets including attaining net zero carbon status in operation by end of FY30; achieving a GRESB score of 5 Star by FY24; and having all new projects to be certified using third party and relevant green building programs from FY21, with 80% of owned and managed assets to be certified by FY24.
Frasers Property Industrial in Europe also participated in GRESB for the first time in 2020.
Each year, GRESB assesses and benchmarks the ESG performance of real assets worldwide and monitors progress towards global sustainability goals. GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of real asset investments and are aligned with international reporting frameworks, goals and emerging regulations.
The GRESB Sector Leader Awards Program recognises real estate and infrastructure companies, funds and assets that have demonstrated outstanding leadership in sustainability. For more information on GRESB, please visit https://gresb.com.