We typically spend 90% of our time indoors. Perhaps that’s why many us are somewhat complacent about buildings. We generally assume they are safe places to be. The pandemic changed all that. Suddenly, our attention is on whether our immediate environs can make us sick. We are asking questions about air quality, surface cleanliness, and even elevator capacity.
Buildings consume 40 percent of global energy and create 30 percent of global energy-related greenhouse gas emissions. Being the energy hogs that they are, it was perhaps logical for the early focus of ESG investors to be on energy use reduction. It was also an easy return on investment. Reduce the energy use, reduce the utility bill. That’s good for the planet, and good for profit too. But what about the people?
A healthy workforce is a more profitable one. Healthier workplaces see less employee absenteeism, less sick days, and less employee turnover. Improving workspaces so people are more productive isn’t as easy as changing an incandescent light bulb to LED. But it’s not as hard as we might imagine.
In a significant step towards creating better workplaces, Charter Hall Group (Charter Hall or Group) has become one of the first organisations globally to achieve a WELL Portfolio Score from the International WELL Building Institute (IWBI).
The WELL Portfolio program aligns with leading green building rating systems and recognises projects that balance a commitment to environmental sustainability and human health. In keeping with that, Charter Hall continues to implement energy efficiency and renewable energy solutions across its portfolio, and recently signed the World Green Building Council Net Zero Carbon Buildings Commitment – a leading initiative focused on climate action in the built environment – as it works to achieve Scope 1 and 2 net zero emissions by 2030.
A powerful mechanism to guide organisations to apply the WELL Building Standard (WELL) across all assets in their defined portfolios, the WELL Portfolio program enables organisations to streamline and scale their health strategies.
Charter Hall’s Chief Experience Officer, Ms Natalie Devlin, said “Charter Hall is extremely pleased to achieve this accolade from the IWBI and it marks a major milestone in our leadership in advancing health and wellness in our office portfolio.
“In the current COVID-19 environment people’s wellbeing is more important than ever. We know workplaces play a fundamental role in fostering social engagement, providing safety and comfort, and creating healthy and sustainable communities. This can have a tangible impact on the bottom line. Today’s successful businesses must put sustainability and wellness at the heart of their actions. By balancing these, both people and planet can thrive” said Ms Devlin.
The WELL Building Standard is a vehicle for buildings and organisations to deliver more thoughtful and intentional spaces that enhance human health and well-being by way of 10 WELL Concepts – Air, Water, Nourishment, Lighting, Movement, Thermal Comfort, Sound, Material, Mind and Community.
Charter Hall received a WELL Portfolio Score for three portfolios: Charter Hall workplaces, Charter Hall Office Trust (CHOT) and Charter Hall Prime Office Fund (CPOF). Together, the portfolios consist of 996,294 square metres of real estate.
As an IWBI member company, Charter Hall is part of a network of organisations that are on the leading edge of the movement to improve global health. The alignment of workplaces and buildings to the WELL Portfolio signals the importance placed on the wellbeing of its people and customers.
IWBI President and CEO Ms Rachel Hodgdon, said “By design, the WELL Portfolio program collaborates with organisations that are on the leading edge of the movement to advance health and well-being at scale”.
At JustInvest, ethical investment is a fundamental component of our Financial Planning advice process, not just an afterthought. Our ethical portfolios have been assessed to have less greenwashing, carbon and reputational risk than their equivalent mainstream counterparts, and we offer portfolio construction customised to your ethical criteria. Contact us to find out more.
Note: this is general information and is not advice. It does not take into account your objectives, financial situation or needs. Before you make any decision about whether to acquire a certain product, you should obtain advice and read the relevant product disclosure statement.
Sources: VERT Asset Management; Charter Hall; IWBI
