GPT Group has achieved top position in a world survey of the world’s best environmental performers among property companies, closely followed by Stockland in third place and other Australian property companies also scoring at the top of the league.
GPT Group scored 86 out of 100 in the inaugural Environmental Real Estate Index produced by one of the world’s leading green property academics, Nils Kok, of Maastricht University in The Netherlands.
GPT Group chief executive officer and managing director, Michael Cameron, said GPT was now the global leader in both the Environmental Real Estate Index and the real estate sector of the Dow Jones Sustainability Index.
“Our Wholesale Funds have also been recognised in the report as private funds with the world’s best environmental management practices,” he said.
“We believe responsible property makes sense commercially for our investors, customers,
communities and our people.”
A media statement issued by GPT quotes the report saying: “The Australian property companies are the clear environmental leaders of the globe. This is particularly the case for the top performer, the GPT Group, which has the impressive total score of 86.
“It is clear that property companies from all over the world can learn from the Australian best practices in environmental management.”
In an article on the Index, which is still to be released, The Australian Financial Review this morning said the Commonwealth Property Office Fund was fifth in the survey, CFS Retail seventh and Valad 13th.
“The university conducted a global survey on the environmental performance of listed property companies and private property funds and developed the Environmental Real Estate Index,” the AFR article said and continued:
“The survey was sent to 688 property companies and funds in more than 20 countries, with high response rates in Australia and northern Europe, and low among property investors in Asia, the United States and southern Europe.
“Less transparent real estate markets have lower response rates,” the report said.
“It also found that a high number of companies were unable to report actual numbers on energy and water consumption, waste recycling and carbon emissions.
“Importantly, property investors do not necessarily walk their environmental talk,” the report said.
“A substantial percentage of the respondents score higher on environmental management and policy than on the actual implementation of these policies. Moreover, the majority of respondents are relatively inactive in environmental management.”
“The report also found listed property companies performed better than their private counterparts, with the more profitable and larger property firms scoring highlyGP, particularly those with a focus in office and retail property.”
The Fifth Estate – sustainable property news