Queensland Investment Corporation (QIC)

Project: Supporting QIC to achieve significant GRESB results

Date: October 2016

QIC's Global Real Estate team manages a more than international portfolio of retail and office assets in Australia and the US valued at AU$18.9 billion (as at June 2017), and has an established platform of fund management, asset management and property functions being actively directed in-house. Seeking to improve their credentials under the Global Real Estate Sustainability Benchmarking (GRESB) reporting scheme, Energetics supported a review of data, sustainability reporting systems and identified improvement opportunities for a portfolio of Australian-based assets. In 2016, QIC’s GRESB score improved by 14 points across all measures and the work that went into reviewing sustainability systems, delivered significant benefits to the business.

Approach

Energetics’ relationship with QIC began in 2010 when we were providing support for the development of their National Greenhouse and Energy Reporting (NGER) scheme submission. However, it was in 2015 that QIC’s push to improve sustainability reporting through the GRESB program led to a broadening of our advisory work.

GRESB is driven by an active group of institutional investors who want evidence of continuous improvement in sustainability management across their portfolios. Even for those Australian property companies who are leading the global GRESB index, investors are seeking improvements in GRESB performance year on year.

In working with QIC to improve their reporting results, Energetics conducted a comprehensive review of systems. We found both gaps and a number of sustainability measures in place that were simply not reported. We also found a range of sustainability initiatives and areas that could support improved GRESB scores and enhance their management systems.

Outcome

As a result of Energetics’ advice and close collaboration with the QIC sustainability team in 2015 QIC’s GRESB score leapt by 14 points – a significant achievement. An energy management system was implemented that met the global ISO14001 standard, and Energetics also supported QIC to align their Environment Social Governance (ESG) reporting to requirements under the Global Reporting Initiative (GRI). Click here to read more about the QIC Global Real Estate 2016 ESG Report.