Genesta’s first fund has achieved a Green Star rating by GRESB, the global real estate sustainability & corporate social responsibility (CSR) benchmarking organization. Genesta’s fund was ranked first amongst its peer group of Nordic diversified funds and 18th in the non-listed value add segment with 120 participants.
The Green Star designation is awarded to management companies, listed companies and funds in the property industry that measure, implement, manage and develop within very strict sustainability and CSR measures. Only groups that fully integrate sustainability and CSR into their operations achieve the Green Star designation.
The GRESB survey assess sustainability areas in broad sense from stakeholder engagement, management, policy and disclosure, risk and opportunities, performance indicators to building certification.
”Annual participation in the benchmark is crucial for Genesta’s institutional investors as it provides them with a clear understanding of Genesta’s actions in these areas. The comparability of the benchmark across Europe and the Globe is key to the benchmark’s success.” says David C. Neil, CEO at Genesta.
“We strongly believe in this process and are dedicated to implementing sustainability into all aspects of our business.” say Heidi Launo, Associate responsible for sustainability management at Genesta.
GRESB is an industry-driven organization committed to assessing the sustainability performance of real estate portfolios (public, private and direct) around the globe. The dynamic benchmark is used by institutional investors to engage with their investments with the aim to improve the sustainability performance of their investment portfolio, and the global property sector at large. By participating in GRESB’s annual assessment, companies and fund managers will be able to better manage their portfolios in the face of more volatile energy supply, stricter legislation to combat climate change, increased energy efficiency requirements and changing preferences of corporate tenants.
For more information, visit the GRESB web site: www.gresb.com