As part of ISPT’s commitment to environmental, social and governance (ESG) initiatives two of our Funds have been assessed in the 2017 GRESB survey. 50 Lonsdale Street Property Trust (50 Lon) was ranked in the top 10% Globally and 7th in Australia in the Office Unlisted category. The ISPT Core Fund was ranked 7th in Australia in the Office/Retail Sector.
All Australian Funds have performed strongly in 2017 when benchmarked against global peers.
ISPT’s ESG programs have delivered real savings for our customers, including an increased saving of $1.38 million in utility costs from FY2015 to FY2016 within the ISPT Core Fund and $55K savings for the single asset 50 Lon. Over this same period carbon intensity reduced in our commercial assets by 10% in the ISPT Core Fund and 16% for 50 Lon.
Alicia Maynard, ISPT’s General Manager, Sustainability & Technical Services said: “The annual GRESB survey provides us with an opportunity for global benchmarking of our portfolio performance. We continue to look for opportunities to create positive lasting legacies by improving the environmental and social outcomes across our portfolio, with value for both customers and investors.”
GRESB (Global Real Estate Sustainability Benchmark) is an industry-driven organisation committed to assessing the sustainability performance of real estate portfolios around the globe. GRESB’s mission is to enhance and protect shareholder value by evaluating and improving sustainability best practices in the global real estate sector.