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.
Improved energy and water efficiency has resulted in approximtately $90 million in cost savings from Fund inception to December 2018. On track to achieve approximately $100 million in savings by December 2019. LED upgrades areunderway and expected to lower carbon emissions, reduce maintenance costs, and generate ongoing savings.
GWOF has achieved a score of 94/100 and a Green Star rating of 5 stars for the 2019 Global Real Estate Sustainability Benchmark (GRESB).
GWOF expects to achieve its carbon neutral target during calendar year 2020. The achievement will be verifiable by early 2021.
The Weighted Portfolio Average NABERS Energy Rating (with Green Power) is 5.0 Stars, with 10 buildings rated at least 5.0 stars NABERS Energy (without Green Power) at 30 June 2019.
GWOF again achieved 5 Star Green Star status in the top quintile of the 2019 GRESB Results with a score of 94/100, a seven point improvement from 2018 and one of the highest scores in its peer group.
The 2019 score included a near-perfect 99/100 for the Management and Policy dimension, with perfect scores in the aspects of Management, Policy & Disclosure and Risks & Opportunities. Additionally, drawing on its robust data management processes GWOF achieved a 93/100 for the Implementation and Measurement dimension with a score of 90/100 for the Performance Indicators aspect, which is 17 points higher than its peer group average.
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 June 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.