GPT and the Funds mutually view sustainability as core to their vision and values. Our purpose is to maximise the financial potential of Australian property with solutions that fulfil the aspirations of our investors, tenants and communities.
GPT’s integrated sustainability strategy addresses social and environmental aspects that are material to the business. Effective engagement and robust governance practices are central to the Group’s approach, which aims to improve the social, environmental and economic capital of the Group’s stakeholders and communities.
GPT’s reporting is fully integrated across all communications including comprehensive sustainability data, case studies and information provided throughout GPT’s website. For expanded commentary on GPT’s performance and priorities as well as the Group’s comprehensive suite of policies covering its commitment to sustainability, visit: www.gpt.com.au. This report is designed to comply with the International Integrated Reporting Framework.
EY Assurance Statement
GPT engaged EY to undertake limited assurance procedures over a number of sustainability key performance indicators that the company deems material to its operations. This year GPT has applied the Global reporting Initiative (GRI) G4 Comprehensive framework. EY’s assurance statement is available on GPT’s website at www.gpt.com.au.
Efficiency improvements have saved the portfolio $15 million in energy and water costs in 2018. LED upgrades are expected to lower carbon emissions, reduce maintenance costs, and generate ongoing savings.
GWOF has achieved a Green Star rating of 5 stars for the 2018 Global Real Estate Sustainability Benchmark (GRESB).
GWOF expects to achieve its net zero carbon target for calendar year 2020.
The Weighted Portfolio Average NABERS Energy Rating (with Green Power) is 5.2 Stars, with 12 buildings rated at least 5.0 stars NABERS Energy (without Green Power) at June 2019.
GPT is consistently ranked as one of the best performing property and real estate companies in international sustainability benchmarks. In 2018, the Fund again achieved Green Star Status, delivering a score of 87, placing it in the top 10% of all respondents.
The 2018 score of 87 can be broken down into the Implementation and Measurement Practices at 87
(GRESB average 64) and Management and Policy 89 (GRESB Average 77). Whilst performing well above average in all major areas of the survey, the highlight for 2018 was the increase in performance beyond GWOF’s peer group average in the Risks & Opportunities and Building Certifications sections, where GWOF increased its scores from 87 to 100 in both categories, compared to its peer group average increases from 80 to 81 and 85 to 86, respectively.
NABERS is a performance-based rating system for existing buildings. NABERS rates a building on the basis of its measured operational impacts on the environment, and provides a simple indication of how well a company is managing these environmental impacts.
As at March 2019, GWOF has maintained its strong support and achievement of best practice waste management, recovery and benchmarking. It has delivered NABERS Waste ratings for half of its portfolio, the highest percentage in Australia, with the remaining assets scheduled and improvement opportunities identified across the portfolio.
GREEN STAR BY GREEN BUILDING COUNCIL OF AUSTRALIA
Green Star - Design & As Built assesses the design and construction of a building, whilst the Green Star - Performance rating measures the broader operational performance of buildings inclusive of NABERS Energy and Water.