The GRESB benchmarking tool has released its global annual results, which recognise the best and most sustainable private real estate and infrastructure development.
The organisation says its benchmarking tool now has more participants than ever, featuring 2234 real estate members and 887 infrastructure members from both fund and asset, totalling almost $US9 trillion or $A$13 trillion in gross asset value. The participants also include 208,250 real estate assets and 3145 infrastructure facilities across more than 80 markets.
Net zero targets are also on the rise, with the real estate sector jumping from 50.4 per cent of participants to 65.4 per cent compared to the previous year. Additionally, a third of participants now have whole building targets that cover scopes 1, 2 and 3 emissions.
Infrastructure is seeing a similar boom, jumping from 59.7 per cent to 64.7 per cent with a net zero target this year, and nearly 90 per cent of developing assets have a target of 2040 or earlier.
More on Oceania, Australia and its leaders in real estate
In comparison to its global peers, 94 per cent of Oceania participants adopted net zero policies. Furthermore, 80.85 per cent of participants have made net zero commitments, and 87.23 per cent have net-zero targets.
However, overall performance scores of the region remain just above the global average – with standing investment scores of 69 per cent in average performance and 91 per cent in average management.
In comparison, Oceania had an average management score of 93 per cent and an average performance of 74 per cent.
In development, however, Oceania sits above the rest with a 95 per cent average management score, compared to a 90 per cent global score, and 93 per cent average development score, above a global result of 84 per cent.
While more comprehensive regional insights will be released in the coming months, here is a table from the Green Building Council of Australia with all Australian companies listed as GRESB’s sector leaders.
GRESB Real Estate Standing Investment Sector Leaders (Oceania)
| Entity | Manager | Sector | Sector Leader Award/s |
| Cbus Property | Cbus Property | Diversified – Office/Retail | 1. Global Sector Leader 2. Global Non-Listed Sector Leader 3. Regional Sector Leader 4. Regional Non-Listed Sector Leader |
| Charter Hall 242 Exhibition Street Holding Trust (242Ex) | Charter Hall | Office | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| Charter Hall Retail Partnership No.6 (RP6) | Charter Hall | Retail | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| Core Logistics Partnership (CLP) | Charter Hall | Industrial | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| Dexus DXS | Dexus | Diversified – Office/Industrial | 1. Global Listed Sector Leader 2. Regional Sector Leader |
| Frasers Property Industrial Australia Pty Limited | Frasers Property Industrial Australia Pty Limited | Industrial | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| Australian Prime Property Fund Retail | Lendlease | Retail | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| Keyton Trust (formerly Lendlease Retirement Living Trust) | Keyton | Residential | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| GPT Wholesale Shopping Centre Fund | The GPT Group | Retail | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| Vicinity Centres Direct Portfolio | Vicinity Centres | Retail | Regional Listed Sector Leader |
GRESB Real Estate Development Sector Leaders
| Entity | Manager | Sector | Sector Leader Award/s |
| Aliro Trusco 1 Pty Ltd as trustee for the Aliro Group Industrial Value Fund | Aliro Management Pty Ltd | Industrial | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| Cbus Property | Cbus Property | Diversified – Office/Residential | 1. Global Sector Leader 2. Global Non-Listed Sector Leader |
| Charter Hall Prime Office Fund (CPOF) | Charter Hall | Office | 1. Regional Sector Leader 2. Regional Non-Listed Sector Leader |
| Dexus Healthcare Property Fund | Dexus | Healthcare | Global Non-Listed Sector Leader |
| Goodman Australia Industrial Partnership (GAIP) | Goodman Group | Industrial | 1. Global Sector Leader 2. Global Non-Listed Sector Leader 3. Regional Sector Leader 4. Regional Non-Listed Sector Leader |
| GPT Wholesale Office Fund | The GPT Group | Office | 1. Global Sector Leader 2. Global Non-Listed Sector Leader 3. Regional Sector Leader 4. Regional Non-Listed Sector Leader |
| ISPT Core Fund | ISPT | Diversified – Office/Industrial | 1. Global Sector Leader 2. Global Non-Listed Sector Leader |
| Keyton Trust (formerly Lendlease Retirement Living Trust) | Keyton | Residential | 1. Global Sector Leader 2. Global Non-Listed Sector Leader 3. Regional Sector Leader 4. Regional Non-Listed Sector Leader |
| Scentre Group | Scentre Group | Retail | 1. Global Sector Leader 2. Global Listed Sector Leader |
More on infrastructure
With the launch of GRESB’s new infrastructure development asset assessment, the benchmark now covers 167 funds and 720 assets this year. Growth of assets and funds using this tool, however, remains slow, with only around 100 funds and assets participating in the benchmarking.
Notable, however, was that in both the regional sector and Oceania, transport represents the biggest number of participants in the rating, followed by renewable power companies.
There were more social infrastructure participants than those in data infrastructure in Oceania. However, data infrastructure is the third largest across the globe.
Meanwhile, the team in Oceania is changing
GRESB Oceania’s third quarterly report also contained a personal note from Ruben Langbroek, GRESB’s head of Asia Pacific, who said he will depart from his role later this year ahead of a move to Spain. In part, it said:
To say it’s been a hectic quarter at GRESB would be the understatement of the year. With the GRESB reporting deadline arriving like an express train at the start of the quarter, followed by the release of the preliminary benchmark results in September, it’s been a non-stop trip. It certainly hasn’t always been a smooth ride, but at this point, we’re basically seasoned stunt drivers navigating the obstacle course with a coffee (and, at times, something much stronger) in our hands.
We want to acknowledge the turbulence some of our participant members and partners faced along the way, and we’re incredibly grateful for your patience and understanding. It’s been a bit like flying by the seat of our pants through some unpredictable weather, but we’ve managed to land safely, thanks to everyone’s continued engagement and support.
Looking ahead, the final quarter is set to be a fast and furious journey with numerous GRESB results events happening across the region. This year’s events are extra special as we’re celebrating GRESB’s 15th anniversary. Who says you can’t enjoy the ride while driving positive change?
And that’s not all. After 11.5 wild years at GRESB, this train is making its final stop for me as head of Asia Pacific. I’ll be relocating to Spain with my wife and kids, where we can finally drive on the right side of the road again.
Lastly, I’d like to use this opportunity to express my deepest Dutch gratitude to everyone who has been part of this incredible journey. As Kermit the Frog once said, “It’s not easy being green.”
Similarly, navigating the roads, rails and skies of Asia Pacific to promote sustainable real assets could be bumpy at times. But your commitment to driving positive change and sharing best practices has truly moved the industry forward, which has been (and remains) critical. As we say in Dutch: “Waar een wil is, is een weg.” (Where there is a will, there’s a way, according to Google Translate)