This month’s must-knows

30 May 2024

There is always a lot happening at the Green Building Council of Australia. As our team prepares for the launch of Green Star Performance v2 online, creates new resources and responds to the deluge of Green Star submissions, there are four highlights from this month that I want to share…

A budget of big ticks

We gave the federal budget, delivered on 14 May, a round of applause as funding flows to programs that support sustainable finance, circular economy, nature positive and green skills. These are all areas the GBCA has championed for many years. If you missed our media release, read our brief rundown of big ticks we give this budget (and the one cross).

Advancing international alliance

One line item in the budget – $17.3 million for measures to improve transparency and trust in sustainable investments – is especially welcome and follows our March announcement of a new international alliance.

We have brought together the Green Star, BREEAM and LEED rating systems to unlock sustainable finance, and last week announced four new members: the Singapore Green Building Council,  partnering with Green Mark; GRESB; the Climate Bonds Initiative; and the Carbon Risk Real Estate Monitor.

The alliance is now backed by the key players that investors, banks and issuers rely on to demonstrate the sustainable credentials of their portfolios and debt instruments. Next month we will publish the first output from the alliance: a practical guide to green bonds and loans. Watch this space.

Nature roadmap feedback

More than $307 million of federal funding is now being directed to nature positive initiatives that promise to improve our laws and institutions. But in Australia, where half our GDP – or $896 billion – is dependent on nature, we must act swiftly.

The built environment has a critical role to play in supporting the regeneration of nature through direct development and through its supply chain. In March, we launched a discussion paper, A nature roadmap for the built environment to start a new dialogue. On Wednesday we added a companion piece to the conversation, with a discussion paper specifically for the supply chain.

Developed with the support of our Nature Principal Partner GPT, this new discussion paper seeks additional feedback from manufacturers and product suppliers.

Both discussion papers are an opportunity for industry to shape the built environment’s role in supply chains and our response to legislation that will change the way we operate. I encourage you to share your feedback on our discussion paper for the supply chain before 31 July.

Green Building Day

We've been thrilled with the turnout at Green Building Day in Perth and Brisbane. It has been inspiring to see sustainability innovators come together to explore the next frontier of biodiversity, circularity, responsible products, sustainable finance and more. Updates on Green Star rating tools, including what the industry can expect from Green Star Communities v2, have been well received. If you are based in Melbourne, Adelaide or Sydney there’s still time to book your seat in the actual room, or join us virtually on Thursday 20 June.