Local Government Super achieves carbon neutral certification

28 May 2019
| By Chris Dastoor |
image
image
expand image

Local Government Super (LGS) has achieved Australia’s first carbon neutral property portfolio certification by the Australian Government for all National Australian Built Environment Rating System (NABERS) rated buildings in its direct property portfolio.

It was Australia’s first NABERS rated property portfolio to achieve the certification against the National Carbon Offset Standard for Buildings (the Standard).

The NABERS rated buildings in the LGS direct property portfolio include four commercial offices in Sydney’s CBD, North Sydney and Macquarie Park, as well as two sub-regional shopping centres in Leichhardt and Bateman’s Bay.

The carbon neutral outcomes had been certified by the NSW Government NABERS program, under licence from the Australia Government Department of the Environment and Energy.

To meet requirements, LGS purchased dual credit offset units that combined biodiversity outcomes in Australia with international emissions reduction. The domestic offsets were supplied by Greenfleet, which would result in over 5,000 native trees being planted in Eastern Australia.

The international emissions reductions would be delivered through investment in wind power in India.

Scott Armstrong, LGS head of property, said the achievement reflected their ongoing commitment to industry leadership in sustainable and responsible investing in Australia and globally.

“LGS strives to continually improve the environmental performance of our direct property assets by incorporating environmental practices and social considerations into the day-to-day management of our direct property portfolio,” Armstrong said.

“In doing so, we aim to enhance the overall retirement outcomes for our members.”

This year, LGS had achieved an average NABERS Energy rating of 5.1 stars (6 with the purchase of Greenpower) and an average NABERS Water rating of 3.7 stars.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

11 months ago
Kevin Gorman

Super director remuneration ...

11 months 1 week ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

11 months 1 week ago

Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Co...

1 day 4 hours ago

Demand from institutional investors was the main driver of growth in Australia’s responsible investment (RI) market in 2023, as the industry continued to gain momentum....

1 day 4 hours ago

In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges....

1 day 5 hours ago