Lendlease multifamily and life science funds recognized by GRESB for superior ESG performance

Firm secures top spots for residential and life science partnerships from world’s most-respected ESG reporting standard, boosting Lendlease’s track record of environmental and social excellence.

 Lendlease, a global integrated real estate group, announced today it has achieved Regional Sector Leader recognition from GRESB for ranking first in the Americas Residential: Multifamily for 2023 for its Lendlease (US) Multifamily – Americas Residential Partnership and attained Global and Regional Sector Leader recognition in the Technology/Life Science category for its Life Science Partnership LL/IVC Lab Office Fund LP.

For the second consecutive year, the Lendlease (US) Multifamily – Americas Residential Partnership achieved the highest overall GRESB Score among the 135 entrants in the Residential Americas category. The partnership also led in scoring for its development portfolio within its peer group of 14 multifamily developers.

Additionally, Lendlease’s US Life Science Partnership secured the first position among 10 candidates in the Technology/Life Science category and attained Global and Regional Sector Leader status. Furthermore, the fund also claimed the top spot among its peer group of seven life science development funds.

“GRESB’s 2023 results once again confirm that Lendlease helps set the global benchmark for sustainable performance in real estate,” said Tony Lombardo, Lendlease Group CEO and Managing Director. “Across the four regions in which we operate – Australia, Asia, Europe and the Americas – at least one of our funds has been named as a global leader in their sector.”

The GRESB assessment evaluated the environmental, social and governance (ESG) performance of two property asset categories – stabilized assets within the joint multifamily portfolio managed by Lendlease and Aware Super, one of Australia’s largest profit-for-member superannuation funds, as well as Lendlease’s joint partnership with global investment firm Ivanhoé Cambridge to develop life science properties, including FORUM, a cutting-edge life sciences lab and office building in Boston.

“I’m incredibly proud of the collective effort undertaken across our entire business to drive sustainability in the built environment and create assets worthy of this recognition from GRESB, which is widely known as the leading ESG benchmark for our industry,” said Claire Johnston, CEO, Lendlease Americas. “As an integrated investment and development firm, we know forward-looking investors prioritize partners with a proven track record of delivering on sustainability goals, and this latest GRESB assessment affirms Lendlease’s leadership in the real estate industry.”

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. This year, the GRESB ESG Benchmark grew to cover more than $8.8 trillion of gross asset value, encompassing 2,084 real estate portfolios, 687 assets and 172 infrastructure funds.

“We are honored to see our collaboration on the Lendlease (US) Multifamily – Americas Residential Partnership received global recognition from GRESB,” said Alek Misev, Head of Property at Aware Super. “It is testament to our belief that to deliver our 1.1 million members the strongest possible risk-adjusted returns, it is critical to stay ahead of sustainability trends and developments including changing preferences of tenants, employees and investors.”

“We have been incorporating ESG considerations into our business activities for over a decade, and our approach in the life science space is no exception,” said Jonathan Pearce, Head of Investments, Office, and Life Sciences, United States at Ivanhoé Cambridge. “This recognition from GRESB for our Life Science Partnership encapsulates the integral role that sustainability plays in our investment strategies and the importance of building relationships with partners, like Lendlease, who share the same drive to accelerate our industry’s transition.”

Overall, Lendlease funds secured 12 Global Sector Leader awards and 14 Regional Sector Leader awards. The results underscore the company’s dedication to achieving positive ESG outcomes across its expanding portfolio of funds and assets under management.

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. To achieve this, Lendlease’s U.S. development pipeline incorporates industry-leading sustainability practices, such as the use of lower-carbon steel and concrete to reduce the embodied carbon of new structures. In furtherance of this goal, Lendlease recently 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.

In addition to its climate-focused goals, Lendlease is targeting the creation of $250 million of social value by 2025. This includes the social value created through the company’s corporate shared value partnerships as well as other programs via the Lendlease Foundation. Lendlease aims for an average social value return on investment of $5 for every $1 the company invests through its partnerships.

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About Lendlease

Lendlease (www.lendlease.com) is a globally integrated real estate group with operations in Australia, Asia, Europe and the United States. We create places where communities thrive. Headquartered in Sydney, Australia and listed on the Australian Securities Exchange (ASX:LLC), Lendlease has approximately 7,600 employees globally. Our core capabilities are reflected in our operating segments of Investments, Development and Construction. The combination of these three segments provides us with a sustainable competitive advantage in delivering innovative integrated solutions for our customers.

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