LGS adds to responsible investment credentials with highest GRESB score to date
15 October 2018
LGS has further cemented its position as a leader in responsible investment, receiving a 5-star rating and an overall score of 85/100 from the Global Real Estate Sustainability Benchmark (GRESB) assessment. LGS ranked above the peer average of 81/100 and the global average of 68/100.
GRESB is an industry backed organisation committed to assessing the environmental, social and governance (ESG) performance of real assets, including real estate portfolios and infrastructure assets globally. This year 903 property companies, REITs, funds, and developers participated in the GRESB assessment.
LGS’ Head of Property, Scott Armstrong, said: “LGS is proud to be awarded a 5-star GRESB rating, and our highest score to date. The score of 85/100 places us 2nd in our peer group, which is a great achievement given our peers have more sizable and higher grade portfolios.”
“Our aim is to continually improve the environmental performance of our direct property assets. Over the past seven years, we’ve reduced our electricity consumption by 42% and our water consumption by 52%. We’re actively working with our tenants to further reduce energy consumption and remain at the forefront of sustainability management.”
LGS Chief Investment Officer, Craig Turnbull, said “this GRESB rating reflects our ongoing commitment to invest in a range of responsible assets on behalf of our members, so they can reap the benefits of long-term sustainable returns.”
The GRESB Assessment evaluates performance against seven ESG categories, including management practices, green building certifications, and stakeholder engagement programs.
The Assessment also contains approximately 50 performance indicators, such as energy consumption, GHG emissions, water consumption and waste.
LGS has been widely recognised for its commitment to responsible investment and local and global initiatives:
- Named Australia’s Best Green Super Fund for the sixth time at the 2018 Money magazine ‘Best of the Best’ awards.
- Founding signatory and the sole Australian signatory to the Green Bond Pledge.
- Awarded a fixed-income ESG mandate to PIMCO for approximately AUD $440 million.
- No.1 ranking for the management of climate change in the global 2017 Asset Owners Disclosure Project.