Precinct-focused and retail-centered real estate investment trust Liberty Two Degrees' (L2D's) entire retail portfolio has now been certified by the Green Building Council of South Africa (GBCSA).
The GBCSA rates existing buildings according to the Green Star Existing Building Performance (EBP) rating tool. Focus is placed on ensuring that buildings’ ongoing operations and management are resource-efficient and environmentally responsible, with long-term sustainability goals embedded in day-to-day operational policies and plans.
The Sandton City Precinct, which includes Sandton City Shopping Centre, Atrium on 5th and the Sandton Office Tower, has been awarded a 6-Star Green Star Rating for EBP by the GBCSA.
This is the first super-regional mall on the African continent to achieve such a prestigious rating, representing world leadership in environmentally sustainable operational efficiencies, states L2D.
Further, Nelson Mandela Square, Eastgate, Liberty Midlands Mall and Liberty Promenade have each achieved a 5-Star rating, while the Botshabelo Mall has achieved a 4-Star rating.
“Our Good Spaces initiatives form part of the building blocks of our environment, social and governance (ESG) strategy and are fundamental to how we do business.
"Achieving Green Star certification is integral to this strategy. We are therefore exceptionally proud of this achievement and are pleased to be recognised by the GBCSA for our efforts to achieve sustainable operational excellence. Coupled with the commitment to our net-zero journey, this is testament to our dedication to creating long-term investment value,” comments L2D COO Jonathan Sinden.
In achieving and maintaining Green Star EBP ratings at all of its properties, L2D is continuously addressing both operational sustainability strategies and outcomes, as well incrementally improving its energy and water performance to maintain high-performing buildings which are in line with the company’s net-zero waste, water and energy 2030 target.
“Innovative initiatives such as carrying out extensive energy audits across our portfolio, coupled with ambitious energy and water targets embedded in our comprehensive policies, have substantively contributed to achieving such high ratings and are an indication of how the company’s net-zero targets will be achieved,” says L2D asset management executive Brian Unsted.
GBCSA CEO Lisa Reynolds has congratulated L2D on the "tremendous green accomplishments" across its portfolio.
"Achieving Green Star Existing EBP at all of the company’s assets shows a true commitment to sustainability. These recently-rated iconic spaces are not only household names within their communities, they attract global attention and are a great showcase of the benefits of greener retail.
"At the GBCSA, we are particularly excited about what has been achieved at the Sandton City precinct. A 6-Star rating is a triumph to be celebrated. EBP ensures that buildings are not only well-built, but are continually functioning as efficient, healthier green spaces. It’s fitting that this world-class destination should achieve a world leadership rating and we hope the tenants and visitors to the precinct feel the benefits of this,” she adds.