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PRI reporting framework 2018

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Property monitoring and management

PR 09. Proportion of assets with ESG targets that were set and monitored

New selection options have been added to this indicator. Please review your prefilled responses carefully.

09.1. Indicate the proportion of property assets for which your organisation, and/or property managers, set and monitored ESG targets (KPIs or similar) during the reporting year.

(in terms of number of property assets)

09.2. Indicate which ESG targets your organisation and/or property managers typically set and monitor

Progress Achieved
          Base building (excluding tenant) electricity consumption intensity. All LLIM assets
          Whole building water consumption intensity. All LLIM assets
          Primary waste recycling rate (whole portfolio). All LLIM assets
          11% reduction (70.11 kWh/m2/yr at end 2017 vs. 79.21 kWh/m2/yr at end calendar 2014 baseline)
          8% reduction (0.78 KL/m2/yr at end 2017 vs. 0.85 KL/m2/yr at end calendar 2014 baseline).
          5% reduction in recycling (61% at end 2017 vs. 66% at end calendar 2014 baseline)
Progress Achieved
          Tenant satisfaction surveys issued
          Tenant satisfaction survey response rate
          Number of community engagement activities
          Surveys are issued to most tenants.
          The typical response rate varies significantly between asset sectors (eg. from 20-40% for shopping centres, and 60-80% for office building tenants).
          Extensive community engagement across retail and commercial assets.
Progress Achieved
          Australian green leases executed in 2017 (as percentage of leasing activity during reporting period)
          Asset and portfolio level certification targets (GRESB, Green Mark, Green Star (all types), GBI, NABERS, LEED, BREEAM, WELL).
          Assets with a climate resilience and adaptation assessment completed
          100% of tenants with leases entered in calendar 2017 have green lease provisions
          - GRESB target_Australia core funds, top 5
- NABERS office_4.9 Star  Energy, 4.1 Star Water 
- NABERS retail_4.1 Star Energy, 3.6 Star Water
          85% by number of assets (Australia Office, Retail and Industrial)

09.3. Additional information. [Optional]

PR 10. Certification schemes, ratings and benchmarks

10.1. Indicate whether your property assets are assessed against certification schemes, ratings and/or benchmarks

10.2. List the certification schemes, ratings and/or benchmarks your property assets are assessed against and what proportion of your property assets they apply to.

          NABERS Energy and Water (Australia)
Proportion of property assets these apply to

(in terms of number of property assets)

          Green Star (D&AB, Performance)
Proportion of property assets these apply to

(in terms of number of property assets)

          Green Mark (Singapore) & GBI (Malaysia)
Proportion of property assets these apply to

(in terms of number of property assets)

10.3. Indicate if your organisation uses property specific reporting standards to disclose information related to your property investments’ ESG performance.

          GRESB and DJSI

10.4. Additional information.

The International Towers Sydney (ITS) Tower Two at Lendlease's Barangaroo South development achieved a 6 Star Green Star Design & As-Built certification in 2017. NABERS Energy and Water ratings were undertaken for Tower Two of ITS in 2017 and other assets at ITS will be rated as they meet the eligibility criteria of the NABERS rating program in 2018 and 2019.

In March 2018, International Towers Sydney (ITS) Towers One, Two and Three were the first in the world to ever be awarded WELL Certification for Core & Shell at the Platinum level, the highest certification available from International WELL Building Institute under its WELL Building Standard (WELL). In addition, Lendlease’s global headquarters, Tower Three International Towers, has also achieved a Platinum rating for its office fitout. This is the first WELL New & Existing Interiors Project Type to be awarded WELL Certification at the Platinum level in Australia, and the largest globally.

APPF Commercial achieved a 6 Star Green Star Performance portfolio certification for 10 of its assets, becoming the first portfolio of buildings in Australia to achieve this outcome. Green Star Performance is an Australian-based rating framework developed by the Green Building Council of Australia that assesses the operational performance of buildings across nine impact categories. Lendlease's Australian shopping centre funds (APPF Retail, Lendlease Sub-regional Retail Fund) maintained their Green Star Performance portfolio certifications.

NABERS and Green Star Performance certifications are undertaken annually to maintain continued certifications.

Lendlease's focus on Green Mark in Singapore: Parkway Parade, 313@Somerset and JEM maintained their Platinum certifications. Setia City Mall in Malaysia maintained its Silver Green Building Index certification.

In addition to the local rating schemes noted above, it is important to note that all LLIM's internally managed property funds participate in the GRESB Real Estate assessment on an annual basis. In 2017, several funds in Lendlease's Investment Management business were recognised as global leaders in responsible property investment by GRESB. Australian Prime Property Fund Commercial (APPF Commercial) was ranked first of all 823 global GRESB Real Estate Assessment respondents (850 when including the 27 Developer Assessment respondents).

Lendlease International Towers Sydney Trust (LLITST) and Lendlease One International Towers Sydney Trust (LLOITST) were ranked equal first from 27 global respondents in the GRESB Developer Assessment category.

APPF Industrial was ranked first in the Oceania private unlisted industrial fund category.

Australian Prime Property Fund Retail (APPF Retail) was ranked second in the Oceania private retail fund category with the Lendlease Sub-Regional Retail Fund (LLSRF) ranked third.

Lendlease's Asia Retail Investment Fund's 1 and 3 (ARIF 1, ARIF 3) achieved a first and third GRESB Assessment rank respectively for the Asia region.