Vicinity ranked as top APAC firm in sustainability

Vicinity Centres has been ranked as a regional leader in sustainability by Global Real Estate Sustainability Benchmark in the 2017 Real Estate Assessment.

The retail landlord was also ranked number one in the Asia Pacific Retail sector, second for listed entities within Australia and fourth for retail funds globally by GRESB.

GRESB assesses the sustainability performance of real estate portfolios and assets in public, private and direct sectors worldwide. Its 2017 assessment was completed by 850 property companies, REITs, funds and developers, across 62 countries and with US$3.7 trillion in assets under management.

“We are delighted with this acknowledgement by GRESB, recognising Vicinity’s progress in sustainability,” said Angus McNaughton, CEO and managing director. “At Vicinity, being sustainable extends beyond good risk management and environmental performance. As significant local hubs, our centres have an important role to play in shaping better communities both economically and socially.”

Ruben Langbroek, head of Asia Pacific at GRESB, said Vicinity demonstrated that shopping centres can positively contribute to local communities and smart, sustainable cities across Australia.

“The regional real estate sector again has shown clear commitment and meaningful action to improve its performance on environmental, social and governance aspects,” Langbroek said. “This also underlines that investor interest, supported with accurate performance benchmarking, is empowering the spread and adaptation of best practices in sustainability, such as those shown by Vicinity Centres and the other Regional Sector Leaders across Australia.”