Local Government Super is taking its portfolio to net zero operating carbon emissions by 2030 and pushing for all building stock to be net zero by 2050. 

As of today (28 May), the major superannuation fund has joined 50 other entities globally as signatories to the World Green Building Council’s global Net Zero Carbon Buildings Commitment.

There are 11 other Australian companies signed up to the WorldGBC’s commitment, which was launched in September last year: Dexus, Cbus Property and Nightingale Apartments, AMP Capital Wholesale Office Portfolio, Cundall, Frasers Property Australia, GPT Wholesale Office Fund, Integral Group, Stockland – Retirement Living & Logistics, the Sydney Opera House and the City of Sydney.

“Local Government Super is committed to a responsible and sustainable investment strategy and this includes taking decisive action on the very real risk of climate change,” Local Government Super’s head of property, Scott Armstrong, said.

“By systematically reducing the environmental impact of our direct property portfolio, we’re aiming to benefit the community and the environment by minimising our emissions, and at the same time, earning long-term sustainable investment returns for our members.”

The Green Building Council of Australia head of market transformation Jorge Chapa said signatory organisations are showing “outstanding leadership in their commitments to decarbonise their portfolios.”

“It is tremendous to see such a significant number of responses coming from Australia to the challenge the World Green Building Council has set.

“Together with existing signatories, Local Government Super is seizing the opportunity our built environment offers to dramatically lower carbon emissions.

“Their commitment also demonstrates the clear value they see in future proofing their portfolios by taking early action to be more resilient and responding to the changing demands of investors when it comes to assessing climate risk.”

The World Green Building Council’s Advancing Net Zero Status Report 2019 was also released today, and it shows that globally nearly 390 buildings have now been certified as net zero carbon by participating green building council schemes since 2017.

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