The Infrastructure Sustainability Council of Australia has released a tool to measure the sustainability performance of infrastructure assets – the first such tool in the world to do so, it says.
“This is a significant industry milestone for infrastructure assets to measure and benchmark their performance, beyond compliance, against a quadruple bottom line framework,” ISCA chief executive Antony Sprigg said.
The operations rating has been developed in consultation with industry and considers sustainability in terms of operations, maintenance and for related capital upgrades.
The tool has been aligned with ISO 55000, and is complementary to the GRESB infrastructure survey, the UN principles for responsible investment and enable reporting against relevant Sustainable Development Goals.
“Infrastructure asset owners are now able to quantify performance gaps and material sustainability aspects to enhance asset and portfolio management,” an ISCA statement said.
“They are also able to measure and rate their assets through design, construction and operations utilising the same framework. Industry also benefits from increasing efficiency in the delivery of unified industry expectations of beyond compliance practices.”
The IS rating scheme now covers planning, design, construction and operation of infrastructure assets. Since launching in 2012, over $82.7 billion in infrastructure and civil works projects or assets across Australia and New Zealand have either been certified or registered for an IS rating.