ISPT first in Australia to achieve full CAF Portfolio Certification for ethical cleaning standards.
Monday 1 September, Melbourne: ISPT is the first asset owner in Australia to achieve CAF Portfolio Certification. This is the highest level of assurance that cleaning services meet the Cleaning Accountability Framework (CAF) Standard for fair labour practices and responsible procurement.
The milestone builds on ISPT’s role as a launch partner for the CAF Portfolio Certification program in 2024, when it became the first owner to achieve a Gold Portfolio Rating. Full CAF Portfolio Certification confirms that ISPT has met the CAF Standard across all eligible assets in its flagship Core Fund.
Miriam Thompson, CAF Chief Executive Officer, said:
“This is a landmark moment for Australia’s property sector. ISPT has demonstrated that fair labour standards can be embedded at scale. ISPT has set a new benchmark for transparency, responsible procurement and modern slavery risk management that others can follow.”
Nearly 150,000 people work in commercial cleaning across Australia, many under temporary visas and in isolated conditions, making them vulnerable to exploitation. The CAF Certification scheme gives asset owners an independent, measurable way to address these risks, protect cleaners’ rights, and demonstrate year-on-year improvement in labour standards.
Steve Peters, ISPT’s Chief Sustainability Officer and a member of CAF’s Board of Directors, said:
“For many reasons ISPT has supported CAF since its inception in 2013 but primarily because our cleaners are an essential part of the ISPT community. In many cases, they’re also invested in our buildings through their superannuation funds. Achieving full CAF Portfolio Certification reflects our commitment to fair pay, safe conditions and ethical procurement.
We set a clear ‘flag on the hill’ target of 100% CAF Certification across our office and retail portfolios which we are pleased to have achieved. Reinforcing this, labour standards are a clear KPI for our $5.3 billion sustainability-linked loan program – one of the largest for any real estate manager in Australia -, with CAF Certification one of the performance measures, demonstrating ISPT’s approach to embedding responsible investment into every facet of our operations.
Working with CAF gives us a way to tackle labour risks early, before they escalate, and to check in continuously rather than at a single point in time. The worker engagement element is especially powerful. Hearing directly from cleaners, through an independent process, helps us identify and fix issues quickly to ensure cleaners are treated fairly. Full CAF Portfolio Certification gives us confidence that our contractors are supported to deliver high quality services that our tenants value.”
Miriam Thompson added:
“ISPT has shown what leadership looks like: setting a clear target, tying it to financial performance and delivering it at scale. Full CAF Portfolio Certification is a significant achievement, and we look forward to it inspiring other property owners to aim higher and help raise standards across the industry.”
About ISPT
ISPT is one of Australia’s largest unlisted property fund managers, with $20.5 billion in funds under management. With a focus on delivering sustainable, long-term returns, ISPT manages a diverse portfolio of property assets across various sectors, including retail, office, industrial, healthcare and education. The company’s market-leading environmental, social and governance (ESG) approach ensures responsible and sustainable practices across its portfolio. As of December 2024, ISPT is a wholly owned subsidiary of IFM Investors.
About CAF
Established in 2012, the Cleaning Accountability Framework (CAF) is an independent, multi-stakeholder initiative that works across the cleaning supply chain to improve working conditions, champion ethical procurement and introduce best practice. CAF’s Building and Portfolio Certification schemes benchmark assets against the CAF Standard, helping owners to address modern slavery risks and demonstrate leadership in fair labour practices. Click here www.cleaningaccountability.org.au/
CAF publishes a complete list of assets that have met the CAF Standard on its website: www.cleaningaccountability.org.au/wp-content/uploads/2025/08/Core-Fund.pdf
About CAF Portfolio Certification
CAF Portfolio Certification is the highest level of assurance that an asset owner’s cleaning supply chain meets the CAF Standard for fair labour practices and responsible procurement. Owners progress through four clear stages:
- Benchmarking: The portfolio of assets is benchmarked against the CAF Standard and awarded a rating (Gold, Silver, Bronze or Participant). This identifies strengths and areas for improvement.
- Roadmap: CAF develops a tailored ‘Pathway Plan’ with actionable steps to reach full certification.
- Implementation: The owner delivers the required change, which may include CAF’s Portfolio Program Modules: Procurement; Responsible Contracting; Worker Engagement; and Education & Training.
- Certification: The portfolio is re-rated, and if all CAF Standard requirements are met, the portfolio is awarded full CAF Portfolio Certification.
A CAF Rating lasts for 12 months and must be renewed annually. For more information: www.cleaningaccountability.org.au/portfolio-certification.
Download media release here.
Media contacts
Karen Jamal
KJ Communications
0412 179 135