Frasers Property Australia has been named the overall Global Sector Leader among developers in the GRESB Developer Assessment rankings. The company achieved a score of 96 out of 100, compared to the Peer Average score of 78, and was ranked first of 41 developers. The global rating GRESB provides environmental, social and governance benchmarks for real estate and infrastructure portfolios and assets worldwide.

Earlier this year, the group received a 6 Star Green Star Design and As-Built v1.1 (Design Review) rating for the Burwood Brickworks project from the Green Building Council of Australia, representing World Leadership solidifying Fraser Property’s aim to create the world’s most sustainable retail development.

Burwood Brickworks, aiming to be the world’s most sustainable shopping centre

Frasers Property Australia’s Global Sector Leadership in GRESB’s Real Estate Assessment rankings reflects the performance of its investment property portfolio, comprising office, industrial and retail assets, with a gross asset value of A$1,696 million (as at 31 December 2018).

Frasers Property Australia’s top ranking in the Developer Assessment rankings reflects its development activities in 2018, across residential, commercial, industrial and retail asset classes. The results are based on Frasers Property Australia’s performance over the 2018 calendar year, a year in which Frasers Property grew its green energy business, Real Utilities.

PFD Food Services, Chullora Technology Park, NSW

Also in 2018, Frasers Property Australia joined the global Net Zero Carbon Buildings Commitment, meaning every new building it creates must operate at net zero carbon from 2030, and all its existing buildings must operate at net zero carbon by 2050.

However, Frasers Property Australia has set itself bolder ambitions. Like its peers such as Vicinity Centres, the company plans to be zero carbon in development and operation by 2028.

Lisa McCutchion, General Manager – Innovation Communication & Sustainability, Frasers Property Australia, says the GRESB ranking validates its approach to achieving these ambitious targets. “We are rightly proud of these exceptional results, which reflect investments in sustainability which create value for our business, our clients and our tenants. But we’re not resting on our laurels. Our ambition to be zero carbon in development and operation by 2028 requires ongoing commitment, innovation and powerful partnerships.”

The Eastern Creek ED.Square development which is underway has sustainability at its core

“The property industry has a vital role to play in increasing the pace of change needed for our nation to meet its climate change obligations. As a leader in the industry, we are mindful of our responsibility and we are facing up to the challenge”, she said

Earlier this year, Frasers Property Australia received approval from the Science-Based Targets partnership for its greenhouse gas emission reduction targets. Under the approved targets, Frasers Property Australia has committed to reduce its scope 1 and 2 greenhouse gas emissions by 50% per square metre, and its scope 3 greenhouse gas emissions by 25% per square metre, by 20282.

Scope 1 and 2 emissions refer to greenhouse gas emissions which are directly owned or controlled by Frasers Property Australia, including the operation of assets and the generation of purchased electricity. Scope 3 emissions refer to those that occur in the value chain, including through a customer’s use of the asset, such as a tenant or purchaser.