Lendlease Global Commercial REIT becomes first S-REIT to achieve net zero target

Amongst efforts done by the REIT include a 12% reduction in electricity consumption.

Lendlease Global Commercial REIT has already achieved its net zero carbon target, becoming the first Singapore REIT to do so, its manager announced in a bourse filing.

"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," Kelvin Chow, CEO of LREIT’s manager, said.

According to LREIT's manager, the target was attained through "various carbon reduction strategies including energy
efficiency initiatives and reducing energy consumption within its Singapore assets."

The manager said LREIT reduced its electricity consumption by 12%.

Meanwhile, the manager said LREIT is also expecting to meet its sustainability performance targets under its S$960 million of
sustainability-linked loans and S$216 million of sustainability-linked derivatives.

"This is expected to generate net interest savings to LREIT’s unitholders," the manager added.