What is a Green Star rating?
We've recently seen adventure retailer Kathmandu open the first Green Star accredited retail store in Australia, which is to be shortly followed by Collins Street Wharf's new development on the waterfront.
But what exactly is the Green Star initiative?
The Green Star rating system comes from the Green Building Council of Australia.
The Green Star rating tools rewards sustainability outcomes and encourage moving beyond standard practice.
Ratings can be achieved at the planning phase for communities, during the design, construction or fitout phase of buildings, or during the ongoing operational phase.
The ratings are broken down in to six star categories.
The system assesses the buildings, fitouts and communities against a range of environmental impact categories.
It also aims to encourage leadership in environmentally sustainable design and construction, showcase innovation in sustainable building practices and consider occupant health, productivity and operational cost savings.
In June, diversified property group Frasers Property Group (rebranded last year from Australand), who are now controlled by Singapore-listed Frasers Centrepoint, secured the first ever sustainability rating for a portfolio of properties.
Not to be confused with Kathmandu's claim for the first ever retail store, the portfolio applies to a group of 54 commercial and industrial properties.
Australand now has 1.3 million square metres of Green Star-certified space, more than double any other company in Australia.