International-sustainable-investment-assessor GRESB has awarded both global and European excellence labels to EfTEN Real Estate Fund 4’s advancements in sustainability.
According to EfTEN, “for the second consecutive year, EfTEN Real Estate Fund 4 achieved the maximum five-star rating for ESG performance, ranking third among 50 benchmarked funds in Europe.”
“GRESB Sector Leaders help set the pace for the industry,” said Sebastien Roussotte, CEO of GRESB, leading the way towards a more sustainable future. We are both proud of and encouraged by this year’s Sector Leaders for their dedication, leadership, and commitment to ESG principles and sustainability.”
“Sustainable management has become a critical component of real estate investment and can no longer be overlooked in today’s market,” said Merle Purre, Head of ESG at EfTEN Capital. “The GRESB results and our ongoing ESG development reflect our team’s dedication to responsible investment management. Additionally, the Fund’s portfolio is 100% certified by BREEAM, ensuring transparency and providing an objective evaluation of the condition of our assets.”
Purre noted that high sustainability standards significantly impact project financing. “For instance, after a thorough renovation, the nearly 25-year-old Radisson Collection hotel, part of the EfTEN Kinnisvarafond II portfolio, achieved an A-class energy label. This upgrade enabled the building to secure a green loan from SEB Bank.”
According to EfTEN, the GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations. “This year’s Real Estate Assessment saw a record 2,223 listed and non-listed pzortfolios participate,” EfTEN reported, “generating a benchmark that covers USD 7 trillion of gross asset value.”
Image source: Propmission.com