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The strategic significance of environmental sustainability by Australian‐listed property trusts

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  • Graeme Newell

Abstract

Purpose - Environmental sustainability has taken on increased importance in recent years with property companies. The purpose of this paper is to assess the strategies used by listed property trusts (LPTs) in Australia in delivering excellence and international best practice in environmental sustainability for commercial property. Design/methodology/approach - Using content analysis, the annual reports, corporate responsibility and sustainability reports, and carbon disclosure reports for all LPTs in Australia are assessed. These public domain documents are used to identify the corporate strategies used by LPTs for implementing international best practice in environmental sustainability for the LPT commercial property portfolios. Findings - The paper finds that Australian LPTs are seen to be strategically implementing a wide range of procedures regarding environmental sustainability. These contributions represent international best practice in environmental sustainability procedures, and include strategies at the corporate, portfolio and individual commercial property levels. These results confirm the strong leadership role of Australian LPTs in implementing international best practice in environmental sustainability in commercial property. Originality/value - Previous research into sustainable commercial property has largely focused on the valuation implications with sustainability and the various sustainability rating tools. This paper rigorously assesses the strategic issues concerning implementing international best practice in environmentally sustainable commercial property; particularly highlighting the strong leadership role of LPTs in Australia in implementing these international best practices. Given the increasing significance of environmental sustainability and commercial property, this research enables more informed and practical investment decision making by property companies regarding the implementation of environmental sustainability procedures for their commercial property portfolios which are seen to be international best practice.

Suggested Citation

  • Graeme Newell, 2008. "The strategic significance of environmental sustainability by Australian‐listed property trusts," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 26(6), pages 522-540, September.
    • Handle: RePEc:eme:jpifpp:v:26:y:2008:i:6:p:522-540
    DOI: 10.1108/14635780810908370
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    Citations

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    Cited by:

    1. Steffen Westermann & Scott J. Niblock & Michael A. Kortt, 2018. "A Review of Corporate Social Responsibility and Real Estate Investment Trust Studies: An Australian Perspective," Economic Papers, The Economic Society of Australia, vol. 37(1), pages 92-110, March.
    2. Marcelo Cajias & Franz Fuerst & Pat McAllister & Anupam Nanda, 2011. "Is ESG Commitment Linked to Investment Performance in the Real Estate Sector?," Real Estate & Planning Working Papers rep-wp2011-03, Henley Business School, University of Reading.
    3. Isaac Doku & Sonal Agarwal, 2016. "The Perception of Investors on Real Estate Sustainability in Ghana," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 6(4), pages 261-273, April.
    4. Fabrizio Battisti & Maria Rosaria Guarini & Anthea Chiovitti, 2017. "The Assessment of Real Estate Initiatives to Be Included in the Socially-Responsible Funds," Sustainability, MDPI, vol. 9(6), pages 1-19, June.
    5. Pellegrini-Masini, Giuseppe & Leishman, Chris, 2011. "The role of corporate reputation and employees' values in the uptake of energy efficiency in office buildings," Energy Policy, Elsevier, vol. 39(9), pages 5409-5419, September.
    6. Janda, Kathryn B., 2014. "Building communities and social potential: Between and beyond organizations and individuals in commercial properties," Energy Policy, Elsevier, vol. 67(C), pages 48-55.
    7. Cook, Stephen & Sharma, Ashok K & Gurung, Thulo Ram, 2014. "Evaluation of alternative water sources for commercial buildings: A case study in Brisbane, Australia," Resources, Conservation & Recycling, Elsevier, vol. 89(C), pages 86-93.
    8. Peter Jones & Daphne Comfort & David Hillier, 2016. "Interpretations of the Concept of Sustainability Amongst the UK’s Leading Food and Drink Wholesalers," Tržište/Market, Faculty of Economics and Business, University of Zagreb, vol. 28(2), pages 213-229.
    9. Graeme Newell, 2021. "Future research opportunities for Asian real estate," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 25(2), pages 272-290, April.
    10. José Luis Ruiz-Real & Juan Uribe-Toril & Juan Carlos Gázquez-Abad & Jaime De Pablo Valenciano, 2018. "Sustainability and Retail: Analysis of Global Research," Sustainability, MDPI, vol. 11(1), pages 1-18, December.

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