A Lendlease-owned portfolio of offices in Australia worth over $11.1 billion has been certified carbon neutral ahead of schedule, the property and construction giant revealed this week.
The carbon neutral status applied to over 566,000 square metres of floor space managed by three of the company’s key office funds — the Australian Prime Property Fund (APPF) Commercial and two International Towers trusts that include the precinct at Barangaroo South.
The properties represent 15 of the 16 office assets owned by Lendlease, with the 16th not managed by the company.
According to Lendlease, the offices at Barangaroo South were already fully powered by renewable energy, and APPF Commercial was on track to achieve the same by 2025.
Lendlease Funds Management, managing director, Scott Mosely said that investing in climate-friendly buildings was increasingly crucial for real estate operators to remain competitive.
“Tenants want to be in highly sustainable precincts that support their own environmental goals,” he said.
“Being carbon neutral in real estate will be critical in continuing to attract both capital partners and quality tenants.”
The independent Green Building Council of Australia’s (GBCA) Green Star Performance rating was used to achieve carbon certification by Climate Active, a new iteration of the Australian Government’s carbon neutral certification.
GBCA chief executive Davina Rooney, said while there were many “high-performance” buildings in Australia, very few were certified carbon neutral.
“Buildings and construction are responsible for 39 per cent of global energy-related carbon emissions,” Ms Rooney said.
“Lendlease’s achievements demonstrate world leadership and that carbon neutrality within the build environment is not only the right thing to do environmentally, economically and socially, but that it’s also possible.”