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 5th 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”.
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.
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Liberty Two Degrees
NOTES TO EDITORS
About Liberty Two Degrees Limited
Liberty Two Degrees (L2D) is a South African precinct-focused, retail-centred REIT, reconstituted and listed as a corporate REIT ON 1 November 2018. L2D’s purpose is to continue to create experiential spaces that benefit generations, with a vision to be the leading South African, precinct-focused, retail-centred REIT. L2D’s purpose and vision guide its strategy and underpin its everyday business activities.
About Liberty Two Degrees’ portfolio
L2D has investments in a quality portfolio of iconic assets, these are:
- Sandton City Complex; Eastgate Complex; and Nelson Mandela Square;
- Sandton Sun Hotel, the InterContinental Sandton Towers and the Garden Court Sandton City;
- Standard Bank Centre offices; and
- Melrose Arch precinct
- Cape Town: Liberty Promenade Shopping Centre;
- KwaZulu-Natal: Liberty Centre Head Office and Umhlanga Ridge Office Park; Liberty Midlands Mall; John Ross Eco-Junction Estate; and
- Bloemfontein: Botshabelo Mall
L2D is focused on continuously improving the quality of its assets, introducing innovative and unique experiences that attract tenants, shoppers and visitors to its malls in order to create sustainable value for stakeholders. L2D aims to create spaces that provide a sense of community and go beyond the ordinary shopping experience.
L2D building blocks
L2D’s aim is to create spaces that enable personal, memorable human engagements and seamless interactions between retailers and consumers, continually driving authentic encounters through community-driven engagements and a strong focus on sustainable and ethical practices. This has been articulated through the L2D strategic building blocks, which help futureproof the assets and truly set them apart in the market and sharpen the focus of L2D’s efforts and business activities. The L2D building blocks are:
- Good Spaces: L2D’s shopping malls are ecosystems that provide trading and experiential environments for some of the world’s most iconic brands as well as brands in high demand. L2D understands the importance of partnering with its stakeholders to accelerate its positive impact on the natural environment. L2D remains bold in driving its net zero commitments, which is evident at a number of its business operations and sites. L2D continues to reduce carbon emissions, water use and waste generation as it moves towards achieving its net zero sustainability target by 2030. Supportive initiatives have been implemented to achieve this goal.
- Smart Spaces: L2D aims to secure and sustain its leading position in the market by remaining at the forefront of innovative design thinking. The creation of smart environments that integrate technology to enhance the customer and retailer experience is a key initiative in this strategic growth area. Through Smart Spaces, L2D aims to accelerate its roadmap to create the seamless interaction between digital and physical retail
- Interactive Spaces: Interactive Spaces is about providing an interchange of ideas and experiences within the L2D malls. The emphasis is on interaction, a fast pace, excitement, experience and stimulus, with a vision to create vibrant and diverse spaces with experience at their heart. Interactive Spaces encourages common ownership, placemaking and enjoyment of the physical environments in which L2D operates.
- Safe Spaces: L2D’s building blocks are all underpinned by Safe Spaces. L2D aims to drive a clearly defined mall strategy that ensures the mall environments hold the highest standard of safety and security for tenants and shoppers. L2D has been affirmed by SAFE Shopping Centres, a Global certification and advisory company, as the first responsible owner in Africa to achieve international certification following a Covid-19 assessment, taking the extra steps to ensure duty of care for tenants and shoppers.