Ambitious emissions reduction goals for office fund
Property portfolio goes green
The AMP Capital Wholesale Office Fund has committed to ambitious emissions reductions and efficiency targets across its property portfolio to reach net zero emissions and a portfolio-wide average NABERS Base Building Energy Rating of 5.5 stars by 2030.
Net zero 2030
Responsible investors are increasingly looking for demonstrably green assets which deliver investment returns while minimising risk. Our customers also demand high sustainability standards that support their wellbeing, align with their values and minimise operating costs. We pride ourselves on having a holistic sustainability strategy with ambitious long term emissions reduction targets for our real estate assets, which in turn will influence our supply chain and benefit the broader community.Chris NunnHead of Sustainability, Real Estate, AMP Capital
The CEFC invested $100 million in the AMP Capital Wholesale Office Fund (AWOF) to help set a new benchmark for the commercial property sector in Australia.
The CEFC agreement with AMP Capital includes a range of initiatives consistent with encouraging lower emissions and greater energy efficiency, including greater knowledge sharing by AWOF across the property sector and wider access to property energy consumption data. In addition, the investment supports the publication of practical information on the implementation of science-based targets and the sharing of information on regulatory and planning barriers to energy efficiency.
As part of the investment by the CEFC, AWOF is targeting a range of energy efficiency commitments across its portfolio, including the redevelopment of 50 Bridge Street in Sydney, as well as Quay Quarter Tower and the wider Quay Quarter Sydney precinct incorporating the neighbouring Loftus and Young Streets mixed-use development.
Other landmark properties are 200 George Street, Sydney and Melbourne's Collins Place and 700 Bourke Street. The 700 Bourke Street property is only the fourth in Australia to achieve the 6 Star Green Star performance rating from the Green Building Council of Australia, indicating world's best practice operational performance.