Environment - Cromwell Property Group
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Delivering resilient, revitalised and sustainable asset portfolios that generate value and meet investor and other stakeholder expectations.

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Environmental targets

80% renewable energy by 2025
100% renewable energy by 2030 for operationally controlled assets and spaces
75% waste diverted from landfill by 2030
100% waste diverted from landfill by 2040
Net Zero by 2040
Achieve 42% scope 1, 2, and 3 emissions reduction by 2030 against a 2022 baseline
Reduce water intensity
in line with relevant geography benchmarks
60% waste recycling by 2040
Achieve full TCFD alignment
with the recommendations by 2025

Cromwell is committed to funding low-carbon,
efficient and resilient buildings that
meet our ESG ambitions

Decarbonisation case studies

Electrification project – Sydney Australia

In Australia, where a large proportion of commercial buildings and the Australian energy grid is reliant on natural gas, electrification is a key step in the decarbonisation.

During the year, we commenced an electrification upgrade at our McKell building, a first for the Sydney CBD. The multi-million-dollar project will convert the 24-storey building’s existing commercial gas-fired heating system to an electric heat-recovery reverse cycle heating, ventilation, and air conditioning (HVAC) system.

As NABERS moves to favour buildings that are fully electric, removing natural gas, as the electricity grid shifts to increasingly rely on renewable sources, building upgrades such as the McKell project will not only improve our energy ratings, but also reduce emissions in the longer term.

Predicted impact
We also estimate that future proofing the building through this electrification project will achieve a 5% energy reduction of the total base building electricity consumption.

Low-carbon glass – Nervesa, Italy

Considering environmental factors when selecting suppliers is one of the key ways to reduce the carbon footprint of our business. For CEREIT’s Nervesa 21 refurbishment, our Italian team has been partnering with AGC Glass Europe, that produces Low-Carbon Glass. According to them, glass accounts for 5% to 15% of the embodied CO2 emissions in a building. By using Low-Carbon Glass instead of standard glass, a building’s embodied CO2 emissions are reduced.

Low-carbon glass is manufactured in an optimised process to reduce its carbon footprint. Using recycled glass and low carbon supplies in highly efficient melting furnace reduces the carbon emitted from the production process. AGC Low-Carbon Glass used for 50% of façade of the renovation project.

Predicted impact
Nervesa 21 will have WELL Platinum and LEED Gold certifications. These levels are achieved by the circular practices implemented to reduce carbon emissions. Maintaining the existing structure is enabling potential embodied carbon savings of approximately 1,288 kgCO2e/m2 vs. demolishing and rebuilding.

Landfill diversion during refurbishment

Our Australian property team worked to reach total waste diversion from landfill for a recent refurbishment of 100 Creek Street in Brisbane. The original diversion target was 90%, with a stretch target of 100%.

Key Results
By working hard with contractors and suppliers, 96% of waste was recycled or reused at the site. Although the team looked for solutions for all waste, a portion was unavoidable, such as the packaging on supplied goods.

Sustainable design, construction and performance case studies

The Joan, Amsterdam, The Netherlands

In 2020 Cromwell entered into a partnership with Being to build a state of the art, high quality and sustainable 24,000 sqm office building called ‘The Joan’ in Amsterdam Overamstel.

The Joan was built to BREEAM Excellent and Well Platinum certification standards and consists of a multifunctional and creative ground floor, a restaurant, and lots of natural light and greenery in a sustainable and healthy business climate

The design encompasses arrange of impressive sustainability initiatives including:

  • a climate ceiling;
  • plants present on all floors (‘green lungs’); and
  • a heat recovery system and a grey water system that re-uses
    rainwater for flushing toilets as well as watering the green areas in
    the building.

The adjoining parking garage, ‘The Joan II’ consists of 247 car-parks and feature dedicated bike parking spaces, as well as charging points for electric cars and bicycles.

Soward Way, Greenway, ACT, Australia

The Department of Social Services were existing tenant-customers
at the Cromwell-owned Tuggeranong Office Park, with their lease due to expire in December 2016. Cromwell constructed a new dedicated building for the department in turn retaining their tenancy for a new 15-year lease.

The sustainable design, construction and performance for the commercial office and tenant-customer fitout were set to provide solutions that outperformed original environmental and energy requirements. Key features:

  • Six levels of integrated space incorporate open space and a series
    of tenant-customer circulation stairs and cantilevered balconies to
    promote floor-to-floor connectivity;
  • A soaring 800 sqm glass atrium through the centre of the building
    provides an abundance of natural light to each floor;
  • Sun shades to eliminate glare and control heat loading;
  • Full Integrated Building Services Network; and
  • Cutting-edge audio-visual technology and LED lighting throughout
    are two of the many initiatives employed to deliver greater

Testament to its thoughtful design, the building received a 5-Star Green Star Office Design v3 rating, 5.5-Star Base Building NABERS Energy rating, 4.5-Star Base Building NABERS Water rating and 6-Star Tenancy NABERS Energy rating. The Energy rating has further improved to 6-Stars with the recent installation of solar panels.