LGS achieves Australia’s first carbon neutral property portfolio certification

28 May 2019

LGS today announced it has achieved carbon neutral certification by the Australian Government for all NABERS rated buildings in its direct property portfolio.

This is Australia’s first NABERS rated property portfolio to achieve carbon neutral certification against the National Carbon Offset Standard for Buildings (the Standard).

The NABERS rated buildings in the LGS direct property portfolio include four commercial office buildings located in the Sydney CBD, North Sydney and Macquarie Park, NSW. The portfolio also includes two sub-regional shopping centres in Leichhardt, Sydney and Bateman’s Bay, NSW.

The carbon neutral outcomes have been certified by the NSW Government administered NABERS Program under licence from the Australian Government Department of the Environment and Energy, and in compliance with the recently released Standard.

To meet the Standard’s requirements, LGS purchased dual credit offset units that combine biodiversity outcomes in Australia with international emissions reduction. The Australian offsets, supplied by Greenfleet, will result in more than 5,000 native trees being planted in Eastern Australia. This will provide habitat to native wildlife, conserve biodiversity and increase resilience to climate change. The international emissions reductions component of the offsets are delivered through investment in wind power in India.

LGS Head of Property, Scott Armstrong, said: “This achievement reflects our ongoing commitment to industry leadership in sustainable and responsible investing in Australia and globally.

“LGS strives to continually improve the environmental performance of our direct property assets by incorporating environmental practices and social considerations into the day-to-day management of our direct property portfolio. In doing so, we aim to enhance the overall retirement outcomes for our members.”

In December 2017, LGS was awarded a 5-Star Green Star Performance rating for its direct property portfolio, representing Australian excellence in building operations, the first portfolio to achieve the rating in Australia.

In 2019, LGS has achieved an average NABERS Energy rating of 5.1 Stars (6 Stars with the purchase of Greenpower) and an average NABERS Water rating of 3.7 Stars. LGS also achieved a rating of 5 Stars in the 2018 GRESB Survey.

More information on LGS’ direct property portfolio.

More information on the Standard.

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