We believe in integrating environmental, social and governance (ESG) practices into all aspects of our operations. Sound and sustainable strategies throughout the whole life-cycle of our investments delivers high risk-adjusted returns to our investors and modern and efficient work spaces for our tenants.
Genesta´s ESG-report 2022 is here
Genesta’s ESG Report for 2022 provides an overview of the sustainability performance of the entire company, including the ESG performance on fund level. The report describes how sustainability matters are managed and the sustainability performance of Genesta as an employer, as well as the achievements of the funds and their properties. It is written in accordance with the Global Reporting Initiative (GRI) Standards 2021 and has received a limited assurance from KPMG. Additionally, the report is aligned with the principles of the UN Global Compact, INREV Sustainability Reporting Recommendations, and the Sustainable Finance Disclosure Regulation (SFDR).
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Sustainability at Genesta
At Genesta, we invest in properties where our expertise improves the sustainable performance of each asset benefiting the environment, our tenants and their employee as well as other stakeholders such as suppliers and the local community. We believe that creating value for society also creates value for our investors.
To act on climate risks, we need to secure the resilience of our assets. Guided by a rigorous approach we are future-proofing our investments, from early acquisition and investment decisions to hands-on asset management. ESG is intertwined in all aspects of the investment management process.
Genesta is committed to upholding the highest standards of business ethics, integrity, and transparency. We have a zero-tolerance policy towards corruption and bribery, and we employ a robust risk management process to detect, measure and mange risks in our operations. We follow the precautionary principle in terms of ecological responsibility, and we regularly conduct Sustainability and Health & Safety (H&S) risk assessments on our properties.
Further information can be found in our ESG Report 2022.
As of 10th March 2021, the EU Sustainable Finance Disclosure Regulation (SFDR) comes into force. The objective of this is to reorient private capital flows towards sustainable investments. As an Alternative Investment Fund Manager (AIFM) Genesta has embraced the requirements the SFDR and the associated EU taxonomy and has commenced to formally implement these two regulations into our fund and investment management practices. Please read our Sustainability Risk Policy which discloses our initial implementation of the SFDR.
Principal Adverse Impacts
The adverse impact of investment decisions on sustainability factors is one of the main categories of the SFDR disclosures, along with the disclosure of sustainability risks and information. Genesta considers principal adverse impacts of its investment decisions on sustainability factors. The present statement is the consolidated statement on principal adverse impacts on sustainability factors for the reference period from 01 January – 31 December 2022.
Please read our Statement on Principal Adverse Impacts on Investment Decisions on Sustainability Factors.
Responsible Business: At Genesta, we aim to deliver strong, sustainable returns through sound investment and responsible management practices. We are committed to upholding our values and adhering to the highest standards of corporate governance and ethical business behavior. Described here we strive to prevent corruption in all its forms and ensure the long-term success of our investments.
Exclusion Policy: The Exclusion Policy for ESG Steering Committee is the exclusion of certain business relationships is the act of limiting companies from doing business with Genesta, its managed funds and its subsidiaries due to business activities that are deemed unethical, harmful to society or in breach of laws or regulations.
The Code of Conduct: Our Code of Conduct builds a framework for our daily business at Genesta. It is our guidebook for putting our values into practice. The Code of Conduct establishes basic principles and guidelines, covering topics relating to legal compliance and disclosure, human rights issues, HR practices, environmental matters, conflict of interest, anti-bribery and gifts, and reporting violation of this.
Genesta’s GNRE Fund II participated in the Global Real Estate Sustainability Benchmark (GRESB) for the seventh time in 2022, covering fund management and performance disclosures for 2021. The results were published during Q3 2022. The fund reached 80 points (out of 100), four stars and a Green Star designation. The GRESB average score was 74 points, and peer group’s average was also 74 points. The fund achieved fifth place out of eleven in its predominant peer group. The fund scored full points in the ESG breakdown with regards to social aspects. The strengths of Genesta’s GNRE Fund II in the GRESB Assessment were leadership, risk management, stakeholder engagement, targets and tenants & community.
GNRE Fund III participated in the Global Real Estate Sustainability Benchmark (GRESB) for the second time in 2022, covering fund management and performance disclosures for 2021. The results were published during Q3 2022. The fund reached 74 points (out of 100), three stars and a Green Star designation. The GRESB average score was also 74 points, and peer group’s average was as well 74 points. The fund achieved sixth place out of eleven in its predominant peer group. The fund scored full points in the ESG breakdown with regards to social aspects and above-average in the governance section. The strengths of Genesta’s GNRE Fund III in the GRESB Assessment were leadership, risk management and stakeholder engagement, reporting, targets and tenants & community, as well as waste.
Our Standard Sustainability Measures
We invest into energy efficiency improvements such as LED lighting, building automation and efficient HVAC systems. In order to minimize our carbon footprint we use green electricity in all our properties.
When feasible, we invest into on-site renewable energy production and offer our tenants a possibility to buy onsite renewable energy.
We aim to certify most of our properties to verify the environmental performance and sustainable management practices.
Our properties are equipped with e-car charging possibility to enable sustainable commuting.
Our properties are equipped with bicycle parking, fixing stand and changing facilities to enable sustainable commuting and healthy lifestyle.
Our properties offer extensive recycling opportunities.
We always renovate our properties with water saving equipment.