Looking at the 2016 GRESB results, Australia and New Zealand again are leading the pack in terms of outperforming the other regions on environmental, social, and governance (ESG) aspects. Besides strong government support, this is a direct result of a unique approach by the region’s property market. On one hand, the market has shown a long-term commitment to sustainability and pervasive spirit of collaboration and knowledge sharing. Australian and New Zealand property companies and funds are unusually open to exchanging experiences and insights. Competitors frequently work together to address material issues and create new guidelines and standards. For instance, Sydney’s Better Buildings Partnership recently released an updated green lease standard designed to help tenants and landlords deliver stronger sustainability performance. On the other hand, companies and funds in the region are extremely competitive, as the sector regards superior ESG performance as a proxy for quality. For example, the Property Council of Australia’s Guide to Office Building Quality, dictates that Premium and A-grade building stock are required to have 4 star and 3.5 star NABERS Energy ratings respectively. In addition, strong overall ESG performance is also considered to be an indicator of leading management quality. And there can be only one regional GRESB Sector Leader.