A First For The SA Retail Industry

The Sandton City Precinct is certified by the GBCSA as the first 6-Star Green Star rated super-regional shopping centre in Africa.

With a focus on minimising its environmental footprint,Liberty Two Degrees (L2D), a precinct focused, retail-centred REIT, is pleased to announce that its entire retail portfolio has been certified by the Green Building Council of South Africa (GBCSA). Recognising and awarding environmental leadership, the GBCSA rates existing buildings according to the Green Star Existing Building Performance (EBP) rating tool. Focus is placed on ensuring that buildings’ ongoing operations and management are resource-efficient and environmentally responsible, with long-term sustainability goals embedded in day-to-day operational policies and plans.

The Sandton City Precinct, Africa’s leading mixed-use precinct, which includes Sandton City Shopping Centre, Atrium on 5^th and the Sandton Office Tower, was awarded an outstanding 6-Star Green Star Rating for Existing Building Performance v1 by the GBCSA. This is the first super-regional mall on the African continent to achieve such a prestigious rating, representing world leadership in environmentally sustainable operational efficiencies, driven through L2D.

Jonathan Sinden, Chief Operations Officer of L2D comments, “Our Good Spaces initiatives form part of the building blocks of our ESG strategy and are fundamental to how we do business. Achieving Green Star certification is integral to this strategy, we are therefore exceptionally proud of this achievement and are pleased to be recognised by the GBCSA for our efforts to achieve sustainable operational excellence. Coupled with the commitment to our net zero journey, this is testament to our dedication to creating long-term investment value”.

Through its bold commitments and market leading initiatives that encourage creativity and innovative solutions at its properties, L2D has committed to delivering a sustainable and resilient portfolio that significantly enhances its offering. In achieving and maintaining Green Star EBP ratings at all of its properties, L2D is continuously addressing both operational sustainability strategies and outcomes, as well incrementally improving its energy and water performance to maintain high performing buildings which are in line with the company’s net zero waste, water and energy 2030 target.

“Innovative initiatives such as; carrying out extensive energy audits across our portfolio coupled with ambitious energy and water targets embedded in our comprehensive policies, have substantively contributed to achieving such high ratings and are an indication of  how the company’s net zero targets will be achieved”, says Brian Unsted, Asset Management Executive at L2D heading up sustainability.

Sinden adds “This achievement is exemplary of a driven and focused strategy to ensure that our impact today does not adversely affect tomorrow. There are many noteworthy elements to this certification, one of which is that it is a market first for a retail portfolio to be rated in its entirety”.

L2D and the GBCSA share the common philosophy to strive to be courageous and proactive green building thought-leadership. Recognising L2D as a mover and shaker in green initiatives, Lisa Reynolds, CEO of GBCSA comments “Congratulations to Liberty Two Degrees on the tremendous green accomplishments across their portfolio. Achieving Green Star Existing Building Performance ratings (EBP) at all of the company’s assets shows a true commitment to sustainability. These recently-rated iconic spaces are not only household names within their communities, they attract global attention and are a great showcase of the benefits of greener retail”.

“At the GBCSA, we are particularly excited about what has been achieved at the Sandton City precinct. A 6-Star rating is a triumph to be celebrated. EBP ensures that buildings are not only well-built, but are continually functioning as efficient, healthier green spaces. It’s fitting that this world-class destination should achieve a world leadership rating and we hope the tenants and visitors to the precinct feel the benefits of this”, adds Reynolds.

Green Star rating breakdown and ratings per mall

L2D’s commitment to drive its Good Spaces objectives includes its tenants as a vital contributor to its net zero journey and its best-in-class assets and operational practices. L2D is also cognisant of the role it plays in how businesses interact with stakeholders, local communities and society more broadly. This achievement forms part of L2D’s strategy to address this and play a part in supporting the communities the malls serve.

“We recognise the larger stewardship role that our organisation must play.  We constantly strive to make a positive impact, as a responsible corporate citizen and examine ways in which to engage our communities to achieve meaningful and sustainable outcomes – for us this means – building tomorrow, together,” concludes Sinden.