The Climate Bonds Initiative has launched an emissions performance trajectories which investors can use to assess Australian commercial office buildings’ progress toward global climate change targets.
The performance trajectories are available for Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra, and were assembled from data provided by the government’s Commercial Business Disclosure Program, according to the Climate Bonds Initiative said.
Using the Commercial Business Disclosure Program data for the top 15 per cent of office buildings in their respective market, Climate Bonds Initiative determined the the rate by which these buildings would need to reduce their carbon emissions in order to reach the company's 2050 zero emissions target.
Climate Bonds Initiative chief executive Sean Kidney said the trajectories should “spur green property development in the commercial heart of Australia’s major cities” and assist in the reduction of carbon emissions.
“Bond issuers have a simplified process to evaluate building performance. Investors now have a transparent certification scheme that has continuous improvement in emissions performance of commercial buildings as its goal,” he said.
The Green Building Council of Australia's executive director of market transformation, Jorge Chapa, said the performance trajectories provide a “simple methodology” for building owners to demonstrate that they are acting on climate change.
“These emissions performance trajectories are an important step for our industry, as Australian building owners and investors need confidence that their investment decisions are in line with a pathway towards zero carbon,” he said.