Embedding ESG across our business.
Managing opportunity and risk by integrating environmental and social value in our decisions. Demonstrating accountability and transparency.
ESG performance and benchmarks
The DJSI Australia is composed of sustainability leaders as identified by S&P Global through the Corporate Sustainability Assessment (CSA). The index represents the top 30% of companies in the S&P/ASX 200 based on long-term economic, environmental, and social criteria. For further information, refer to the DJSI Australia website.
Cromwell has been included on the Dow Jones Sustainability Australia Index for the first time in 2022, one of only eight property companies in Australia to achieve this.
CDP is a global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. It is fully aligned to the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). Over 18,700 companies and investors representing US$130tn in assets report through CDP on climate change, water security and forests.
In 2022 Cromwell achieved a B score, outperforming our sector average, as well as the Oceania and the global averages.
The GRESB Real Estate Assessment is an investor-driven global ESG benchmark and reporting framework to validate, score and benchmark ESG performance data. Cromwell has improved or maintained its GRESB scores for its key funds each year since first undertaking the assessment in 2017.
Our 2023 results are listed below.
The NABERS Sustainable Portfolios Index (SPI) showcases leading property portfolios across Australia according to their NABERS ratings and percentage of portfolio rated. The SPI is globally unique in that it provides a public, whole portfolio view of actual performance in terms of emissions and water usage, and it tracks progress over time. For more information on NABERS: https://www.nabers.gov.au/portfolio
Cromwell Direct Property Fund results
A rating of 5.5 in energy performance, ranking 3rd best office portfolio overall in Australia and the highest ranked geographically diversified office property fund in Australia.
A rating of 4.7 in water performance, ranking equal 8th in Australia.
Cromwell Diversified Property Trust results
A rating of 5.4 in energy performance, ranking 4th best office portfolio
overall in Australia.
A rating of 4.8 in water performance, ranking equal 7th in Australia.
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Corporate policy, frameworks and statements
Below are ESG-related policies, frameworks and statements. Please visit our Corporate Governance page for corporate governance policies and reports
The information in this section of the website is provided for the use of licensed financial advisers only. In no circumstances is it to be used by a potential investor for the purposes of making a decision about a financial product or class of products. Any advice is not personal advice and has been prepared without taking into account investors objectives, financial situation or needs.
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Cromwell acknowledges the role and responsibility it has in generating awareness and implementing steps to uphold human rights and minimise the risk of modern slavery practises in its operations and supply chains.
In previous years, we prepared and lodged two separate statements for our Australian and European businesses. In FY23 we have produced one Group statement, which describes our approach to assessing and addressing the risks of modern slavery across our entire platform.
Sustainable Finance Framework
Cromwell Property Group has developed its Sustainable Finance Framework to support and provide transparency to Cromwell’s commitment to fund low carbon, efficient and resilient buildings that meet the ESG ambitions of Cromwell and its suppliers and customers through the use of sustainable debt instruments.