TH Real Estate recognised for 5 star ESG excellence in latest Global Real Estate Sustainability Benchmark results
TH Real Estate has achieved ‘Green Star’ status for 15 of its 16 funds submitted in the latest results of the leading portfolio-level benchmark for ESG performance in real estate: the Global Real Estate Sustainability Benchmark (GRESB).
Six funds achieved the maximum 5-star rating, demonstrating market leadership in delivering ESG excellence.
Exceptional year-on-year improvements were achieved for TH Real Estate’s flagship European Cities platform, having increased its score by 18 points compared to last year. The Cityhold Office Partnership also made significant gains, with an overall score of 92 out of 100, having enhanced its position by 8 points compared to last year, and now placed as fourth out of all 367 non-listed European participants.
The accomplishments extend to North America, with two of TH Real Estate’s large U.S. retail funds achieving an impressive first and second place in their peer group. This most recent success builds on a series of accolades awarded by the U.S. Environmental Protection Agency, having recognised TH Real Estate as a '2018 ENERGY STAR Partner of the Year – Sustained Excellence Award' winner for ongoing commitment to outstanding energy management for responsible practices and reductions in greenhouse gas emissions – awarded to TH Real Estate for 11 years in a row. Earlier this year, TH Real Estate was also awarded its highest score to date from the Principles for Responsible Investment (PRI), the world’s largest proponent of responsible investment, supported by the United Nations.
Abigail Dean, Head of Sustainability at TH Real Estate comments: "This year’s 2018 GRESB results recognise that we continue to be a leader in this index and we are delighted that 12 out of 16 funds who participated outperformed their peer average group and that 15 funds achieved Green Star status. This is viewed as a significant marker of sustainability leadership and a minimum requirement for some of our investors, therefore it is imperative we continue to excel in this area."
The 16 funds which participated in the survey represents almost all 51.5% of assets under management*.
GRESB is an industry body committed to assessing the sustainability performance of real assets, including real estate portfolios, around the globe. GRESB covers $3.6 trillon gross asset value, 79,000 individual assets and 903 entities.
*Accounts for properties owned as at 31 December 2017
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Note: TH Real Estate renamed to Nuveen Real Estate in January 2019.
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