Growing commitment to net zero carbon buildings

28 May 2019

A major superannuation fund has today joined the ranks of 50 entities globally, including 11 from Australia, in becoming signatories to the World Green Building Council's global Net Zero Carbon Buildings Commitment.

The Green Building Council of Australia (GBCA) welcomed a pledge by Local Government Super to achieve net zero operating carbon emissions across its portfolio by 2030, as well as advocating for all buildings to be net zero by 2050.

GBCA Head of Market Transformation Jorge Chapa said signatory organisations were leading the way in ambitious action to reduce carbon emissions.

“These organisations are showing outstanding leadership in their commitments to decarbonise their portfolios,” he said.

“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 released today shows that globally nearly 390 buildings have now been certified as net zero carbon by participating green building council schemes since 2017.

“This is a transformational achievement and one we are proud to be contributing towards, in partnership with industry, through our Carbon Positive Roadmap.

“As the WorldGBC has highlighted, the buildings sector globally must fully decarbonise if we are to limit global warming in line with the Paris Agreement.” 

Local Government Super’s Head of Property, Scott Armstrong, said, “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.

“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.