LGS Property Portfolio Receives Two Green Accolades
15 April 2021
LGS direct property portfolio achieves 6 Star Green Star – Performance rating.
Carbon neutral certification also received for third consecutive year.
Sydney, 15 April 2021: Local Government Super (LGS) has been recognised for its sustainable building practices by achieving a ‘6 Star Green Star – Performance’ rating from the Green Building Council of Australia.
LGS is the first superannuation fund with a diversified property portfolio to achieve this world leadership rating, and only the second property portfolio in Australia to achieve the highest benchmark in this industry-leading framework.
‘Green Star – Performance’ assesses the operational performance of existing buildings across nine categories including management, indoor environment quality, energy usage, transport, water consumption, building materials, emissions, innovation, and land use and ecology. It is used by building owners to measure how successfully they are managing their existing assets and helps communicate this commitment to investors and building users.
In further recognition of LGS’ leading property management credentials, the LGS direct property portfolio was certified carbon neutral by Climate Active for the third consecutive year. The Australian Government-awarded honour is for all seven NABERS-rated buildings in the fund’s portfolio.
LGS Chief Executive Phil Stockwell said the 6 Star rating for the fund’s $720 million direct property portfolio represented world leadership in environmentally sustainable building practices and underscored LGS’ commitment to responsible investing.
“LGS is proud to be recognised with this accolade for the operating performance of our direct property portfolio,” Mr Stockwell said.
“It complements the portfolio’s third consecutive carbon neutral certification that we just received, as well as our existing NABERS ratings, further demonstrating LGS’ long-term leadership and commitment to sustainability.”
LGS Head of Property Scott Armstrong said the fund was committed to ensuring that responsible management practices remained in place to minimise the environmental impact across its direct property portfolio.
“This is an outstanding achievement as we have become the first diversified portfolio which includes office, retail and industrial buildings to achieve the 6 Star Green Star – Performance rating in Australia,” Mr Armstrong said.
“We believe that high sustainability performance translates to better investment performance for our members as green buildings have a better ability to attract and retain tenants and also have high-quality management.”
Carbon Neutral Certification
LGS was the first NABERS-rated property portfolio to achieve carbon neutral certification in accordance with the Climate Active Carbon Neutral Standard for Buildings in 2019.
“Since adopting the tool in 2019, our management teams have delivered a 42% reduction in emissions which is an outstanding result. We purchase 100% GreenPower – government-accredited renewable energy – for all our base building electricity needs. Half of the portfolio now has solar panels so that helps take care of our biggest emissions source,” Mr Armstrong said.