Scentre Group recognised as a Global Sector Leader in 2024 GRESB Real Estate Assessment

Scentre Group has been awarded Global Sector Leader, Development in the 2024 GRESB Real Estate Assessment, ranking first amongst its retail peers. This is the fifth consecutive year Scentre Group has been recognised as a Global Sector Leader. The Group received a 5-star rating, once again placing it within the top 20% of the benchmark and a Real Estate Green Star designation across both the Standing Investments and Development benchmarks.

Each year GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics. The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations.

Scentre Group Chief Executive Officer, Elliott Rusanow said the acknowledgement of Global Sector Leader reflects the Group’s enterprise commitment to being a responsible and sustainable business:

“Operating as a responsible and sustainable business underpins our strategy of creating the places and experiences that more people choose to come to, more often for longer. It guides our decision-making and contributes to how we create value.

“The acknowledgement of Global Sector Leader, Development by GRESB, for our fifth consecutive year is recognition of the progress our team has made. It reflects our ongoing commitment to transparency, disclosures and improved performance.”

GRESB Chief Executive Officer, Sebastian Roussotte said:

“Our Sector Leaders this year have demonstrated extraordinary commitment to sustainability, leading by example and driving the industry forward. Their dedication to ESG excellence is truly commendable.”

This year’s GRESB Real Estate Assessment saw a record 2,223 listed and non-listed portfolios participate, generating a benchmark that covers USD 7 trillion of gross asset value (GAV) across 80 markets.

Since 2014, Scentre Group has achieved a 41 per cent reduction in Scope 1 and 2 emissions across its Westfield destinations.

The Group completed four rooftop solar installations in 2023. This more than doubled its total solar generation capacity from 5.9MW to 12.2MW. It also entered into a long-term energy agreement in New South Wales and Victoria, which together with existing agreements in Queensland and New Zealand, will assist in achieving its net zero plan by 2030 (Scope 1 and 2 emissions).