The developers and architects are also cognisant of the need to make the tower as sustainable as possible to attract buyers for the apartments. Demand is high to construct towers that offer a focused environmental, social and governance policy.
In a new report by CBRE, “Asia Pacific Sustainable City Ranking”, reveals cities in Australia and Japan are the most resilient to environmental risks.
As the region continues along a path of rapid urbanisation and economic growth, the variability of environmental performance across Asia Pacific markets requires commercial real estate occupiers and investors to tailor their ESG strategies to local market factors rather than adopt a one-size-fits-all approach, according to CBRE.
Brisbane, Canberra, Melbourne, Sydney and Perth are all ranked as Leaders, with Su-Fern Tan, head of ESG, Pacific for CBRE, noting a large rise in the use of sustainability benchmarking tools.
However, Ms Tan said there was still unrealised opportunity in the form of green leases and potential for property owners throughout the Asia Pacific region to “do better” or face costly physical and transition risks
“Given that most nations have 2050 net-zero targets, our supply of renewable energy is currently limited. On the plus side this presents a massive opportunity for utilities to accelerate our transition to a clean energy future,” Ms Tan said.