Port of Melbourne Ranked First in GRESB Infrastructure Asset Assessment

October 17, 2023

Source: Port of Melbourne
Source: Port of Melbourne

Port of Melbourne (PoM) has been ranked first among Australian and international ports in the 2023 Global Real Estate Sustainability Benchmark (GRESB) Infrastructure Asset Assessment.

The Port also received a five-star GRESB rating for the second consecutive year, scoring 99 out of 100.

GRESB’s Infrastructure Asset Assessment is the leading environmental, social and governance benchmark for infrastructure investments across the world.

CEO Saul Cannon said the result was recognition of PoM’s commitment to embed sustainability in the business and PoM’s collaborative approach to working with the port supply chain and other stakeholders to progress sustainability initiatives.

“As a vital freight hub for south-eastern Australia, we have an opportunity to not only take action in our own operations but to lead and facilitate the decarbonisation of the supply chain,” he said. “We have identified both traditional and collaborative areas where we can add value and are adapting our approach to do so – be it emissions reduction, stakeholder engagement, exploring alternative fuels or financing. This result highlights our comprehensive approach and our commitment to sustainability.”

Cannon said the result was the latest of many sustainability milestones and activities at PoM, including:

• Endorsement of a net zero target for Scope 1 & 2 by 2030 which we plan to achieve through sourcing 100% renewable electricity, and the electrification of our vehicle fleet and marine survey vessel

• Completion of a $475 million sustainability linked loan, including a gateway target tied to engagement with port stakeholders to facilitate scope 3 emissions reduction

• Working to embed sustainability into our developments and operations, including through reuse and recycle of materials in our major mode shift project, Port Rail Transformation Project.

Cannon said PoM was working towards a more sustainable port for the benefit of the Australian economy and liveability of Melbourne. “Sustainability is important to support the Port’s efficient 24/7 operations and grow the Port to meet the increasing trade requirements of south-eastern Australia.”

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