CBRE Global Investors Announces Excellent GRESB and PRI Results
10 Sep 2019
Voluntary reporting is a key element of CBRE Global Investors’ approach to ESG. Industry-specific initiatives such as the Principles for Responsible Investment (PRI) and Global Real Estate Sustainability Benchmark (GRESB) give a valuable insight into the business’s ESG performance compared to their peers. This motivates innovation and continually improves performance to demonstrate leadership.
In 2019, CBRE Global Investors participated in the GRESB survey with more portfolios than ever: Two in North America, three in APAC region and fifteen in Europe.
The aggregated EMEA portfolio has achieved five stars rating (87 points, increasing from 77 in 2018), while the global aggregated portfolio received four stars (85 points, increasing from 74 in 2018). Each portfolio has shown a robust year-on-year improvement, continuing the trend for five years running, and significantly increasing the lead on GRESB and Peer average.
The CBRE Global Investors Dutch Office Fund and Retail Property Fund Iberica won double accolades as Regional Sector Leaders and Overall Regional Sector Leaders, achieving the highest score in their peer group (based on the combination of nature of ownership, region and sector) demonstrating outstanding leadership in sustainability.
The CBRE Global Investors Dutch High Street Club is now globally the number one high street retail fund, while the Dutch Office Fund holds first place amongst all European portfolios reporting to GRESB.
A record nine funds are in the top 20% of the entire GRESB universe, achieving the five star status for the fifth quintile, and a further four funds are in the fourth quintile.
Also, this year CBRE Global Investors’ PRI results show continued outperformance, since first joining the initiative in 2009, achieving a leading A+ rating for overall Strategy and Governance.
- Strategy & Governance: A+ (median: A)
- Indirect: A+ (median: B)
- Listed Equity – Incorporation: A+ (median: B)
- Listed Equity – Active Ownership: B (median: B)
- Property: A (median: B)
Aleksandra Njagulj, Global Head of ESG at CBRE Global Investors commented: “PRI and GRESB results are good indicators of the overall quality of company or portfolio’s ESG practices. These are the most comprehensive systems available to the industry to verify sustainability performance in real assets investment and identify areas for improvement. That said, we do not integrate ESG in every stage of an investment lifecycle because of these benchmarks. We do this because sustainability is a fundamental part of our business strategy, and because we seek to deliver world-class investment results. A strong performance in ESG benchmarks is just one of the outcomes.”
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About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $106.7 billion in assets under management* as of June 30, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
Mission-driven and investor-led, GRESB is the environmental, social and governance (ESG) benchmark for real assets. We work in collaboration with the industry to provide standardized and validated ESG data to the capital markets. The 2019 real estate benchmark covers more than 1,000 property companies, real estate investment trusts (REITs), funds, and developers. Our coverage for infrastructure includes 500 infrastructure funds and assets. Combined, GRESB represents over USD 4 trillion in real asset value. More than 100 institutional investors, with over USD 22 trillion AUM, use GRESB data to monitor their investments, engage with their managers, and make decisions that lead to a more sustainable real asset industry.
Learn more at GRESB.com.
About the PRI
The PRI is the world’s leading proponent of responsible investment. It works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. The PRI encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations. For more information about UN PRI and its ESG benchmarking and reporting for real estate, please visit https://www.unpri.org/.