Cromwell’s latest ESG report was released in late October – the document outlines the significant progress the business has made towards our long-term ESG targets in FY24, including sizeable reductions in Australian scope 1, 2, and 3 emissions. Encouragingly, the results have been praised by tenants throughout our Australian office and fund portfolios.

Cromwell Head of Property Operations, Tessa Morrison, said ongoing delivery of ESG initiatives was consistently being undertaken in close partnership with building users to deliver tangible positive impacts.

“We’ve seen a massive shift towards an ESG focus by tenants in the past 18 months – it’s always been strategically important to us as a business, but it is increasingly becoming a key consideration for occupiers in their decision making as well,” said Ms. Morrison.

“A large part of Cromwell’s ESG approach is centred on ‘future proofing’ our assets – making sure we can meet the current and future needs of occupiers. By installing solar energy infrastructure and making the shift to GreenPower in our buildings, for instance, we’re taking steps to secure the long-term future of our assets and simultaneously aligning our approach with our occupiers’ ESG needs.

“Larger tenants, in particular, are telling us that they need to have their net zero strategy in place; they’ve got their own targets and, because of their footprint, they need to carefully consider the office space they occupy.

“This means that if we can’t support tenants’ needs, they can’t meet their ESG objectives, but by meeting tenant ESG demands – through the implementation of environmental, social, and governance policies to produce tangible results – we’re working to maximise rental yield, reduce waste, and retain tenants at the same time.”