As the world reels from a public health crisis, the issue of sustainability is finally gaining the rightful attention. Our commitment to managing the long-term consequences of climate change and sustainable development has become more important than ever.
Identifying and mitigating the impact of climate change on our portfolio remains a priority for Link. We have been part of a United Nations pilot to develop a TCFD reporting methodology for the real estate sector. The preliminary model was developed in September 2019 with input from the investment community and helped real estate businesses identify their long-term climate risks and prioritise mitigation strategies. We have run a preliminary assessment using the TCFD guidelines across the entire portfolio, including our new property in Sydney, and are developing mitigation strategies for those deemed at risk.
By future-proofing our portfolio using TCFD and risk scenario planning, we can communicate to investors, insurers and regulators our arsenal of mitigation strategies and our high level of response preparedness in the event of the physical and transitional impacts of climate change.
For further details, please refer to the report published in November 2019.