- Green Star ratings will now be recognised by the Climate Bonds Initiative
- The built environment could be key to meeting climate targets
Green Star has secured recognition from the Climate Bonds Initiative (CBI) with two for the Green Building Council of Australia’s (GBCA) rating tools that have been certified as compliant with green bonds certification.
To hold a CBI certification profits of a bond must fund new building projects which deliver very low carbon emissions.
Green Star Buildings and Green Star Homes are certification systems that have both been identified as driving the outcomes desired by CBI.
Just last month Prime Minister Scott Morrison announced a commitment to net zero emissions by 2050. The Property Council of Australia’s has highlighted the vitality of the property industry for achieving this target.
This is a sentiment echoed by CBI CEO Sean Kidney.
“Reducing emissions from the built environment is a critical part of the transition to net zero.
CBI CEO Sean Kidney
The built environment accounts for 23% of Australia’s emissions and is close to
40% of the global carbon footprint.
“This best practice recognition of Green Star Buildings and Green Star Homes will make it easier for developers to attract new capital and for investors to identify and back climate friendly opportunities,” Mr Kidney said.
“As governments and investors respond to climate change and the outcomes of COP26, demand for green finance is growing rapidly,” he said.
GBCA CEO Davina Rooney explains that the partnership means tying finance to green stat and therefore to efficient, fossil-free buildings.
“The GBCA and CBI established a partnership in 2015 and have been working steadily
towards this goal for several years.
“We are proud that this partnership can strengthen the active green bonds market and provide clear pathways for the next wave of capital wanting to invest in climate-ready buildings,” Ms Rooney explained.
