LREIT becomes first S-REIT to attain net zero carbon target

Felicia Tan
1-min read

Units in LREIT closed 1 cent lower or 1.21% down at 82 cents on Aug 29.

The manager of Lendlease Global Commercial REIT (LREIT) says the REIT has achieved its net zero carbon target ahead of its original target.

“This was accomplished through various carbon reduction strategies including energy efficiency initiatives and reducing energy consumption within its Singapore assets,” says the manager in a statement on Aug 29.

LREIT is expected to meet its sustainability performance targets under its $960 million of sustainability-linked loans and $216 million of sustainability-linked derivatives. This is expected to generate net interest savings to LREIT’s unitholders.

“Excellence in delivery – through setting goals and achieving them – is one of our greatest strengths. As the first S-REIT to attain net zero carbon status, we are poised to make strides in our decarbonisation journey to achieve Absolute Zero Carbon by 2040. Besides adopting energy efficiency measures, we are actively exploring new ways to reduce our energy consumption,” says Kelvin Chow, CEO of the manager.

Units in LREIT closed 1 cent lower or 1.21% down at 82 cents on Aug 29.

See Also: