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The Global Real Estate Sustainability Benchmark (GRESB) is the world’s most accredited rating system for the ESG benchmarking and reporting of listed real estate companies, private property funds, and property sector developers and investors.
Founded in 2009, the GRESB is now widely approved and adopted, making it one of the industry’s key tools for the management and structuring of ESG issues. The ultimate aim of the rating is to present participants’ non-financial information in a form enabling comparison by investors, with a method which is consistent across the various regions, investment vehicles and property types, and which is also aligned with the international reporting frameworks (GRI, EPRA, TFCD).
In 2021 the fund COIMA Opportunity Fund II has grown by 13 points and ranked 1° among the GRESB Italian and European development peer groups with a 5 stars rating (95 pt)1 while Porta Nuova Garibaldi, with a growth of 9 points, has ranked 2° among the European Core Funds with a 4 stars rating (83 pt)2.
“We are proud of this important result which confirms our commitment in the integration of environmental, social and good governance aspects and strengthens our positioning both on the Italian and European level among the real estate Investment Funds managers that are most attentive to ESG issues.”
Stefano Corbella – Sustainability Officer
Rating participants are asked to supply a set of information on various topics: policies and governance of non-financial issues at the organisational level; quantitative data on the environmental performances of the assets managed; and the sustainability characteristics of development projects. Additionally, particular importance is also given to the degree of engagement with the main categories of stakeholders – tenants, local community, employees. The outcome is able to provide high quality information for the use of investors and participants in their investment, engagement and decision-making processes, supplying useful support for monitoring and managing the ESG risks and opportunities of investments as well as for preparing to comply with increasingly demanding ESG requirements. Moreover, continuous participation in the rating over time will enable the more efficient assessment of portfolio transition risks, in line with the approach of the Task Force on Climate Disclosure (TCFD).
COIMA is a GRESB member since 2018 and is exponentially committed into integrating ESG practices at all levels within the Group, from investment management to asset management and risk management. In 2020 COIMA continued with the classification of the COIMA Opportunity Fund II and the Porta Nuova Garibaldi Fund, and planned for the registration of the COIMA ESG City Impact Fund with effect from 2022.
This year, GRESB has considered more than now more than 1,500 funds with $5.7 tn in assets and nearly 200,000 underlying properties were evaluated this year.
GRESB results consider the ESG performance of real estate assets worldwide and monitor progress towards global sustainability goals, and this significant achievement in the 2021 rankings reinforces our industry-leading commitment to sustainability.
1 #1 Italy | Office: Corporate: High-Rise Office | Non-listed; #1 GRESB Score within Office / Non-listed / Opportunistic
2 #2 Europe | Diversified - Office/Retail | Core | Tenant Controlled