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Posted: November 26, 2024
Lendlease recognized by GRESB
and office building in Boston Landing, a mixed-used development in Allston-Brighton neighborhood. Credit: Lendlease
New York, NY Lendlease achieved regional sector leader recognition from GRESB for 2024 for its multifamily and life sciences funds, ranking first in multiple categories. This is the third consecutive year Lendlease has attained this recognition for its commitment to environmental and social excellence for the firm’s investment portfolio.
The Lendlease (US) Multifamily - Americas Residential Partnership with Aware Super ranked first in the Americas Residential: Multifamily category among 43 peers for standing investments. GRESB ranked the Lendlease and Aware Super multifamily portfolio first among 11 peers for development. In the Technology/Life Science category, GRESB gave the top spot to Lendlease and Ivanhoé Cambridge’s Life Science Partnership LL/IVC Lab Office Fund LP, among six peers.
“This recognition from GRESB reaffirms Lendlease’s standing as a global leader in sustainable real estate investment,” said Andrew Trickett, managing director, investments, Americas and Europe, Lendlease. “ESG principles guide nearly every business decision we make and, more broadly, align with Lendlease’s longstanding commitment to responsible business practices that protect the environment while creating value for our investors.”
The assessment evaluated the environmental, social and governance (ESG) performance of two property asset categories, multifamily and life sciences. This includes the stabilized assets within the joint multifamily portfolio managed by Lendlease and Aware Super, one of Australia’s largest superannuation funds, as well as Lendlease’s joint partnership with Ivanhoé Cambridge, the real estate group of CDPQ, to develop FORUM, a 350,000 s/f life sciences lab and office building in Boston’s Allston-Brighton neighborhood scheduled to deliver later this year.
The annual assessment by GRESB, a mission-driven, investor-led organization providing ESG data and reporting services, utilizes a standardized, globally recognized framework to assess the ESG performance of property companies, private property funds, developers and direct real estate investors.
As a 1.5°C-aligned company, Lendlease has made the ambitious commitment to target net zero Scope 1 and Scope 2 emissions by 2025 and absolute zero across Scopes 1, 2 and 3 by 2040 as part of its Mission Zero campaign. In furtherance of this goal, Lendlease released the first version of its Scope 3 Emissions Protocol, a pioneering roadmap the firm will use to eliminate Scope 3 emissions from its operations.
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