TKP Investments tops Global Real Estate Sustainability Benchmark
For the second consecutive year, the TKPI European Real Estate Fund (TREF) has obtained the maximum score of five stars in the Global Real Estate Sustainability Benchmark (GRESB) Assessment, placing the fund in the top 20 percentile for ESG integration in real assets worldwide.
GRESB is the global standard for ESG benchmarking and reporting for listed property companies, private property funds, developers and investors that invest directly in real estate. The Assessment evaluates performance against seven sustainability aspects and contains approximately 50 indicators, including energy consumption, GHG emissions, water consumption and waste.
TREF’s GRESB score was 87 percent in 2019 – representing a 3% increase for the fund from the year before. In comparison, the peer group of non-listed European real estate funds obtained an average score of 71%.
René Rijk, Senior Portfolio Manager, Alternative Investments: “TREF’s outperformance on the GRESB assessment is a testament to the full integration of ESG criteria in our fund selection and our active engagement with fund managers. For example, we achieved major improvements in energy consumption coverage in the portfolio via proper implementation and measurement. This is an important precedent in order to achieve real reductions in energy consumption, and consequently, a contribution towards a more sustainable world.”