Local Government Super, a leading superannuation fund, is the latest organisation to join the list of signatories to the World Green Building Council's global Net Zero Carbon Buildings Commitment.
Fifty entities worldwide including 11 from Australia have taken the pledge to achieve net zero operating carbon emissions across their portfolio by 2030, as well as advocate for all buildings to be net zero by 2050.
The Green Building Council of Australia (GBCA) head of market transformation Jorge Chapa says the signatory organisations were showing outstanding leadership in their commitments to decarbonise their portfolios.
“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,” he says.
According to Chapa, the World Green Building Council’s Advancing Net Zero Status Report 2019 reveals that globally nearly 390 buildings have now been certified as net zero carbon by participating green building council schemes since 2017.
He says the building sector globally must fully decarbonise to meet the Paris Agreement goals on global warming.
Reiterating their commitment to a responsible and sustainable investment strategy, Local Government Super’s head of property Scott Armstrong says, “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.”
Local Government Super joins 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 among the full list of signatories to the WorldGBC Commitment launched in September last year.
The growing momentum for decarbonisation across Australia’s property sector is also supported by the ongoing efforts of the GBCA’s National Strategic Partners, Frasers Property, Lendlease and Stockland together with those of GBCA’s Carbon Positive Partners, Integral Group, Dexus, Liberty Group, Commonwealth Bank, Interface and the GPT Group.