Stockland makes portfolio commitment to 'Green Star' ratings

The commitment is expected to help the company improve its management of various types of retail buildings in the future

Stockland has made a portfolio commitment to the Green Building Council of Australia’s (GBCA) 'Green Star – Performance' rating tool by submitting 22 of its shopping centres for certification.

The 22 centres, selected from a total retail portfolio of 41 shopping centres throughout Australia, currently have NABERS Energy ratings.

According to the GBCA’s CEO, Romilly Madew, the new accreditation process will enable Stockland to gain fast and cost-effective 'Green Star – Performance' certification for its shopping centre portfolio to meet international reporting requirements, while demonstrating leadership in sustainable building operations.

“Stockland’s leadership sends a signal to the rest of the industry: 'Green Star – Performance' can rate entire portfolios, and it can do so quickly,” Ms Madew said.

The rating tool, launched in 2013, is based on an independent, third-party assessment of a building, enabling property owners to measure their existing buildings’ operational performance, identify opportunities for improvement and realise the many benefits of more sustainable building operations.

John Schroder, group executive and CEO of commercial property at Stockland, said the company places an extremely high emphasis on the environmental performance and sustainable design of its centres.

“This accreditation offers an important portfolio baseline, which enhances our ability to look at ways we can improve our management of various types of retail buildings in the future,” said Mr Schroder.

“We continue to work with our retailers, the community and the GBCA to improve the environmental performance of our shopping centres.

“We truly believe in the ability for sustainability practice to change the retail landscape in Australia and this commitment is an important step in that direction.”

The portfolio approach to certification follows Stockland’s decision to launch Australia’s first green bond in October 2014, with proceeds to be invested in green building projects that achieve a minimum 4 Star 'Green Star' rating.

Stockland currently has the highest number of 'Green Star' rated shopping centres in Australia, and completed the first Green Star-rated retirement living village, Affinity, in Perth.

In March 2015, Stockland achieved a 6 Star 'Green Star – Communities' rating for Caloundra South on the Sunshine Coast, which is the largest residential master planned community project ever undertaken under single ownership in Australia.