Super fund shows true colour

THE Local Government Superannuation Scheme will introduce a major sustainability initiative to fully green-sourced energy for all its directly held properties.

The decision by the LGSS Board requires implementation of 100% green energy from

July 1, 2007, at all nine of LGSS’s property assets, which are together valued at more than $500 million.

The LGSS direct property portfolio consists of two office buildings in North Sydney and office buildings in St Leonards, Sydney CBD and Macquarie Park. The scheme also owns industrial estates at Frenchs Forest and Macquarie Park, plus shopping centres at Leichhardt and Wagga Wagga.

LGSS’ chair Brian Harris said replacing traditional energy sources with 100% green energy was driven by the scheme’s commitment to maximising sustainability through its investments.

“LGSS is leading other super funds and property owners by example. We are declaring our position as part of the debate on climate change. Therefore, we are taking positive actions to reduce our greenhouse gas emissions to a carbon neutral stance across all our activities.

“Green energy will be supplied through existing electricity suppliers and through the purchase of renewable energy certificates from Energy Australia, Climate Friendly and AGL,” Harris said. “In the longer term we hope to see a co-operative environment being developed with all our tenants to participate in sustainable initiatives and further the substantial advances we have already made.”

Australian Property Journal