The Commonwealth Financial institution has supported Cbus Property to enter the sustainable finance market by serving as joint sustainability coordinator and sole financier on the property investor’s inexperienced growth mortgage.

Cbus Property’s inexperienced growth mortgage helps the development of a next-generation 21-storey industrial workplace tower in Adelaide’s CBD, which targets a 5.5 star NABERS Power score and a 6 Star Inexperienced Star design score, and is designed to be net-zero carbon in operation.

EY mentioned that the transaction aligns with the Asia Pacific Mortgage Market Affiliation’s Inexperienced Mortgage Ideas.

“We’re extremely proud to assist Cbus Property with considered one of its first sustainable finance issuances, and one which recognises a brand new growth that’s concentrating on a few of the highest sustainability requirements within the industrial property sector,” mentioned Charles Davis, CBA’s managing director of sustainable finance and ESG. “Business property constructed right now will serve Australians for many years to return, so it’s crucial to embed the best sustainability, vitality effectivity and inexperienced parts within the design to make sure this infrastructure helps the transition to a net-zero economic system of the long run.”

Adrian Pozzo, Cbus Property’s CEO, mentioned the profitable execution of the inexperienced growth mortgage in accordance with the enterprise’ new sustainable finance framework bolstered its industry-leading sustainability program, together with managing the highest-rated NABERS Power workplace portfolios in Australia in 2020 and 2021, and rating within the high 1% within the World Actual Property Sustainability Benchmark (GRESB) in 2021.

“Cbus Property will drive the utilisation of this framework in our upcoming developments and discover alternatives to underpin our present portfolio, whereas delivering on our dedication to attain our sustainability targets and develop accountable investments for our members,” Pozzo mentioned.

The Worldwide Power Company mentioned property and constructing development accounts for greater than a 3rd of worldwide vitality consumption and presents one of many largest alternatives for low-cost carbon abatement.