NAB Morning Call

Weekend Edition: CRE – Why Everyone Needs Good NABERS

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Episode notes

Friday 9th May 2025

Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.

The commercial real estate (CRE) market has struggled post-COVID, with working from home and online shopping both taking a chunk out of demand for properties. But the tide is starting to turn, with investment picking up and a stronger focus on building greener premises or adapting older buildings to meet new green regulations. It’s a Herculean task, with CRE contributing 18 percent of direct carbon emissions in Australia.

Nonetheless, we are winning the battle, according to Natasha Mulcahy, the Pacific region director, ESG at the global commercial real estate consulting and investment firm CBRE. And NAB is doing its part. Paul Lennard is NAB’s Executive, Business Lending Products – his team includes a sustainable finance unit which has built a growing portfolio of around $2bn in green finance over three years, including the CRE sector.

Natasha and Paul join Phil this week to talk about the growth in sustainable CRE, who is driving that change and the regulations that make it impossible to ignore.

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