Local, a specialist build-to-rent developer, has today announced its global certification as a B Corp. The Melbourne-based company joins an international movement of more than 7,000 purpose-led certified B Corps worldwide, with over 750 of them based in Australia and Aotearoa New Zealand.
The prestigious recognition is only granted to companies that meet rigorous standards of social and environmental performance, transparency, and accountability. They are one of only seven Australian property companies to achieve the prestigious certification.
Local’s B Corp Certification reflects the company’s strong commitment to social and environmental responsibility. As part of their ambitious Environmental, Social, and Governance (ESG) goals, Local is determined to strengthen communities by constructing high-quality, sustainably designed apartments with a focus on using homes as a power for good. Local’s commitment extends to dedicating a minimum of 10% of all projects to impact housing, where they will work directly with registered housing providers to supply homes for three key groups:
- Young people living with a disability requiring specialist disability accommodation (SDA) who either reside in or are at risk of being placed in aged or residential care facilities due to the absence of suitable housing options.
- Social housing allocated specifically to women over the age of 55 who are homeless or at risk of becoming homeless.
- Affordable housing for key workers, such as nurses, hospitality employees, and teachers, who provide vital contributions to our communities.
Local’s B Corp Certification also highlights their commitment to sustainability, with every site selection, building and landscape design taking climate considerations into account.Local aims for each of its buildings to achieve a sustainability rating system of 5-star Green Star, 4.5 star NABERS and 7.5-star NatHERS (the Nationwide House Energy Rating Scheme) which greatly reduces each apartment’s carbon footprint and significantly enhances livability and well-being for residents.
Their commitment to ESG also extends to business operations with the company achieving Net Zero in operations with a goal to reduce embodied carbon by 40% by 2030. Local has also recently been certified as a Great Place to Work for the second consecutive year in just two years in operation.
Founded in 2021 by Dan McLennan and Matt Berg, in partnership with a joint venture managed by Macquarie Asset Management Real Estate, Local specialises in constructing and managing apartments exclusively for Build-to-Rent (BTR), rather than selling them to owner occupiers and investors. Projects are currently focused in the inner and middle ring suburbs of capital cities around Australia.
Head of Corporate and ESG of Local, Clare Tayt, said Local’s dedication to strengthening communities and making a positive social impact was a key driver behind their pursuit of B Corp Certification.
“We’re immensely proud to attain B Corp Certification at this early stage of Local’s business journey,” Tayt said. “This recognition is a testament to the dedication and hard work of our team over the past two years. It sets a high standard for our future business endeavours as we remain committed to creating a lasting positive impact.
“The B Corp mission aligns seamlessly with our own mission to use business as a force for good. We have a steadfast commitment to allocate a significant portion of our resources toward driving meaningful social change. We’re committed to putting people and the planet at the core of everything we do. B Corp certification is just the beginning.”
Local excelled in the B Impact Assessment, scoring 96.2 out of 200, well above the 80-point minimum required to achieve B Corp status.
With a vision of having at least 5,000 sustainably designed apartments either built or in progress across Australia by 2026, Local is making significant strides toward its goal. The company currently has nearly 900 apartments under construction in Melbourne as part of its commitment to providing high-quality, sustainable housing solutions.
