QIC Office Fund (QOF)

Real Estate Investment Fund

Member of Green Building Council Australia

4 Assets

77,148 sqm total floor area

4,675 tCO2e portfolio carbon emissions

300 employees

QIC Office Fund (QOF) is one of the world’s leading diversified alternate investment firms’ real estate funds. Their investment strategy is to acquire, develop and manage property assets that are projected to provide, or can be positioned to provide, sustainable returns and consistent growth over the longer term. QIC takes holistic approach to sustainability, which focuses on ensuring the resilience and adaptability of the businesses in which they invest , both for today and the future.

1

Commit

Commit to achieving net zero operational carbon emissions for core managed portfolio by 2028, maximising reduction of embodied carbon in new developments and major renovations, compensating for any residual upfront emissions by 2030.

2

Disclose

Annually measure and publicly disclose energy consumption and whole life carbon emissions, as appropriate, through third party assured reporting.

3

Act

Develop and implement a decarbonisation roadmap that includes improving existing asset performance via energy efficiency measures to reduce energy demand (consumption) and sourcing renewable energy. Undertake life cycle assessments for new developments and major renovations where applicable in order to inform actions to achieve maximum reduction of embodied carbon, compensating for any remaining residual upfront embodied emissions. Current progress towards decarbonisation includes a 5.3 star average NABERS Energy rating across the portfolio and a 32% reduction in energy intensity achieved since 2015. The fund is targeting a 5.5 star average NABERS Energy rating by 31st December 2025, with all new development projects to be designed to receive a minimum 5-star Green Star Buildings rating.

4

Verify

Publicly report and verify energy consumption and emissions data, including whole life carbon emissions where appropriate, against targets using relevant third party certification and verification schemes.

5

Advocate

Demonstrate leadership through core business activities and advocate for the wider update of net zero carbon buildings in the industry through engaging clients and supply chain.

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